Yelp, Inc. (NYSE:YELP) was downgraded from Positive to Neutral by Goldman Sachs, with a current stock price of $34.26.
The company has exceeded earnings expectations in the last two quarters, with a notable earnings surprise of nearly 135% in the most recent quarter.
Despite the downgrade, Yelp’s stock saw a slight increase of 0.7351%, indicating mixed market sentiment.
Yelp, Inc. (NYSE:YELP) is a well-known online platform that connects people with local businesses, offering user-generated reviews and recommendations. The company competes with other review platforms like TripAdvisor and Google Reviews. Despite its strong market presence, Yelp’s stock has recently been downgraded by Goldman Sachs from Positive to Neutral, with the stock price at $34.26 at the time of the announcement.
Yelp has shown a strong ability to exceed earnings expectations, which is a positive indicator for investors. In the last two quarters, Yelp has surpassed earnings estimates by an average of 267%. For instance, in the most recent quarter, Yelp was expected to report earnings of $0.23 per share but delivered $0.54 per share, a surprise of nearly 135%. This consistent performance has led to upward revisions in earnings estimates.
Despite the downgrade, Yelp’s stock has seen a slight increase of 0.7351%, with a change of $0.25, trading between $34.02 and $34.42 today. Over the past year, the stock has fluctuated between a high of $48.99 and a low of $32.56. This volatility reflects the market’s mixed sentiment towards Yelp, balancing its strong earnings performance with the recent downgrade.
Yelp’s market capitalization stands at approximately $2.29 billion, indicating its significant presence in the market. The trading volume of 317,783 shares suggests active investor interest. As Yelp continues to exceed earnings expectations, it remains to be seen how the stock will perform in the face of the recent downgrade by Goldman Sachs.