Yelp (NYSE:YELP) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Yelp (NYSE:YELPGet Rating) announced its quarterly earnings results on Thursday. The local business review company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.01 by $0.10, Briefing.com reports. Yelp had a return on equity of 5.82% and a net margin of 4.14%. The business had revenue of $298.90 million for the quarter, compared to analyst estimates of $284.30 million. During the same quarter in the previous year, the firm earned $0.05 EPS. Yelp’s quarterly revenue was up 16.2% on a year-over-year basis. Yelp updated its FY 2022 guidance to EPS.

Yelp Price Performance

Shares of YELP stock traded up $5.94 on Friday, reaching $38.26. 3,184,608 shares of the stock were exchanged, compared to its average volume of 812,710. The stock has a market cap of $2.72 billion, a PE ratio of 67.12 and a beta of 1.59. Yelp has a one year low of $26.28 and a one year high of $43.28. The stock has a 50 day moving average price of $29.48 and a 200 day moving average price of $31.93.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on YELP. The Goldman Sachs Group downgraded Yelp from a “buy” rating to a “neutral” rating and cut their price objective for the company from $49.00 to $33.00 in a research report on Friday, July 15th. Wells Fargo & Company cut their price objective on Yelp from $40.00 to $35.00 in a research report on Monday, May 9th. Evercore ISI lifted their price objective on Yelp from $35.00 to $41.00 and gave the company an “in-line” rating in a research report on Friday. StockNews.com downgraded Yelp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 14th. Finally, BMO Capital Markets cut their price objective on Yelp from $42.00 to $37.00 in a research report on Tuesday, May 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.75.

Insider Buying and Selling

In related news, CFO David A. Schwarzbach sold 2,000 shares of Yelp stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $29.70, for a total transaction of $59,400.00. Following the completion of the sale, the chief financial officer now directly owns 207,220 shares of the company’s stock, valued at $6,154,434. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Yelp news, COO Joseph R. Nachman sold 6,000 shares of the business’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $31.14, for a total value of $186,840.00. Following the completion of the transaction, the chief operating officer now directly owns 314,913 shares of the company’s stock, valued at $9,806,390.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David A. Schwarzbach sold 2,000 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $29.70, for a total value of $59,400.00. Following the completion of the transaction, the chief financial officer now directly owns 207,220 shares of the company’s stock, valued at $6,154,434. The disclosure for this sale can be found here. Insiders sold a total of 34,605 shares of company stock valued at $1,021,250 over the last three months. Company insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in YELP. Captrust Financial Advisors boosted its position in shares of Yelp by 16.2% during the first quarter. Captrust Financial Advisors now owns 4,033 shares of the local business review company’s stock worth $138,000 after buying an additional 563 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Yelp by 33.5% during the first quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the local business review company’s stock worth $169,000 after buying an additional 1,241 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of Yelp during the first quarter worth about $226,000. Lazard Asset Management LLC boosted its position in shares of Yelp by 21.7% during the first quarter. Lazard Asset Management LLC now owns 12,579 shares of the local business review company’s stock worth $429,000 after buying an additional 2,246 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Yelp by 7.0% during the first quarter. First Trust Advisors LP now owns 16,784 shares of the local business review company’s stock worth $573,000 after buying an additional 1,091 shares during the period. 88.33% of the stock is owned by institutional investors and hedge funds.

Yelp Company Profile

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Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.

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Earnings History for Yelp (NYSE:YELP)

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