Yelp shares plunge after Q2 earnings

Yelp (NYSE:YELP) last issued its quarterly earnings data on Wednesday, April 29th. The business has a market cap of $2.52 billion and a P/E ratio of 68.98.!

Vetr upgraded shares of Yelp (NYSE:YELP.COM) from a hold rating to a buy rating in a research report released on Monday morning, Analyst Ratings.Net reports.

Those words did little to assuage investors as Yelp’s stock plummeted $5.31, or almost 16 percent, to $28.20 in extended trading.

Yelp expect Q3 revenue to be in the range of $139 million to $142 million.

The developments announced Tuesday raised more doubts about Yelp’s ability to survive on its own, although CEO Jeremy Stoppelman told analysts in a conference company that he “is building the company to operate independently over the long-term”. That contrasted with a profit of $2.7 million, or 4 cents per share, at the same time past year.

Shares of Yelp Inc.

The company said its second-quarter earnings excluding items declined 0.7%, while revenue grew 51% to $133.9 million. Zacks Research now has a stock rating of 2.36 on the equity. Finally, analysts at Northland Securities lowered their price target on shares of Yelp from $35.00 to $29.50 and set a “sell” rating on the stock in a research note on Monday, July 13th. This is the consensus mean from the analysts who have issued ratings on the stock within the past year. This is the one year price target given by sell-side analysts covering the equity. The stock presently has an average rating of “Buy” and an average price target of $61.14.

The company shares have dropped -50.15% from its 1 Year high price. The trade was revealed in a record filed with the SEC, which will be available at this hyperlink. (NYSE:YELP) is $86.8799 and the 52-week low is $33.35. The disclosure for this sale can be found here.

“Our core local advertising business remains strong, and we are investing in Yelp’s future”, added Rob Krolik, Yelp’s chief financial officer. Its users have contributed a total of approximately 36.0 million cumulative reviews of nearly every type of local business, from restaurants, boutiques and salons to dentists, mechanics and plumbers. The Company’s products include Free Online Business Account, Enhanced Listing, Search and Other Ads, and Call to Action. As of September 30, 2014, the Company was lively in 6-1 Yelp marketplaces in the USA and 66 Yelp markets internationally.