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SAN FRANCISCO—Craig Saldanha, Chief Product Officer at Yelp Inc. (NYSE:YELP), recently sold 1,000 shares of the company’s common stock, according to a recent filing with the Securities and Exchange Commission. The company, currently valued at $2.33 billion, maintains excellent financial health according to InvestingPro analysis, with impressive gross profit margins of 91%. The shares were sold on February 24 at a price of $35.75 each, totaling $35,750. This transaction was conducted under a 10b5-1 trading plan, which Saldanha adopted on August 30, 2024.
In a separate transaction on February 20, Saldanha had 4,126 shares withheld to satisfy tax obligations related to the vesting of restricted stock units (RSUs). These shares were valued at $36.59 each, amounting to a total of $150,970.
Following these transactions, Saldanha holds 211,558 shares of Yelp common stock directly. Yelp Inc., headquartered in San Francisco, is known for its platform that connects people with local businesses. According to InvestingPro’s Fair Value analysis, the stock currently appears undervalued, with 8 additional key insights available to subscribers.
In other recent news, Yelp reported better-than-expected fourth-quarter results, with adjusted earnings per share of $0.62, surpassing the analyst estimate of $0.53. The company also exceeded revenue expectations, bringing in $361.95 million against a consensus estimate of $351.61 million. For the full year 2024, Yelp achieved a record net revenue of $1.41 billion, marking a 6% year-over-year increase. This growth was driven by an 11% rise in advertising revenue from service categories, despite a 3% decline in restaurant, retail, and other categories. Yelp’s net income for 2024 increased by 34% year-over-year to $133 million, with an adjusted EBITDA growth of 8% to $358 million. Looking ahead, Yelp projects net revenue for 2025 between $1.47 billion and $1.485 billion, aligning with analyst consensus. In a related development, Craig-Hallum raised Yelp’s stock price target to $48, maintaining a Buy rating due to optimism about the company’s growth in the Home Services sector. The analyst noted Yelp’s effective use of artificial intelligence and lead generation, anticipating continued growth despite macroeconomic pressures.
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