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Craig Saldanha, Chief Product Officer at Yelp Inc. (NYSE:YELP), recently sold a portion of his holdings in the company. The sale comes at a time when Yelp demonstrates strong financial health, with an impressive 91.24% gross profit margin and a "GREAT" financial health score according to InvestingPro analysis. According to a regulatory filing, Saldanha sold 1,000 shares of Yelp’s common stock on March 24 at a price of $36.34 per share. This transaction, carried out under a pre-established 10b5-1 trading plan, totaled $36,340. Following this sale, Saldanha retains ownership of 223,512 shares in the company. The stock currently trades below its Fair Value, with management actively buying back shares and maintaining a strong balance sheet with more cash than debt. Discover more insights about YELP and 1,400+ other stocks through comprehensive Pro Research Reports on InvestingPro.
In other recent news, Yelp Inc. reported impressive fourth-quarter earnings, surpassing analyst expectations with an adjusted earnings per share of $0.62, compared to the projected $0.53. The company’s revenue for the quarter reached $361.95 million, exceeding the consensus estimate of $351.61 million. For the full year 2024, Yelp achieved a record net revenue of $1.41 billion, marking a 6% increase year-over-year. Advertising revenue from services categories saw an 11% increase, offsetting a 3% decline in the restaurant, retail, and other categories. Yelp’s net income for 2024 rose 34% to $133 million, with an adjusted EBITDA growth of 8% to $358 million. Looking forward, Yelp projects its 2025 net revenue to be between $1.47 billion and $1.485 billion, aligning with analyst consensus. Craig-Hallum recently raised Yelp’s stock price target to $48, up from $44, maintaining a Buy rating due to optimism about Yelp’s growth, particularly in its Home Services sector. The company’s investments in artificial intelligence and lead generation have been positively impacting its performance, despite macroeconomic pressures. Yelp’s guidance indicates potential for mid-single-digit revenue growth and double-digit earnings growth in the coming years.
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