Yelp Inc (NYSE:YELP), the company that connects consumers with great local businesses, today announced the election of current board member, Diane Irvine, to the position of non-executive board chairperson, effective immediately. Irvine takes over from Max Levchin, who recently stepped down from Yelp’s and other boards to dedicate more time to the company he founded and leads.
“Diane has made significant contributions to Yelp since she joined the board in 2011,” said Jeremy Stoppelman, co-founder and chief executive officer. “She has played an important role as our Audit Committee chairperson, providing insight and leadership that is valuable to Yelp, our employees and shareholders,” he continued. “Diane brings an ideal blend of finance, technology and international business expertise – as well as a deep love of Yelp – to her new role.”
“I am honored to be named chairperson of Yelp’s board,” said Diane Irvine. “I’m proud to be part of a company that is building a great business and consumer experience through its best-in-class mobile platform. I am excited about the innovation and culture that powers Yelp, and look forward to continuing my work with the leadership team and the other members of the board.”
Diane is also a board member of XO Group Inc., a consumer internet and media company, and of Rightside Group, Ltd., a leading provider of domain name services. She previously served as an executive of Blue Nile, Inc., the leading online retailer of diamonds and fine jewelry, from 1999-2011, having joined Blue Nile as chief financial officer and later serving as chief executive officer, president and a director on the board. Diane has also served as chief financial officer of Plum Creek Timber Company, a timberland management and wood products company, and was a tax partner at international accounting firm, Coopers & Lybrand LLP.
Diane previously served on the boards of directors of Davidson Companies, a leading regional financial services firm; Ticketmaster; and CafePress Inc. She holds a B.S. in Accounting from Illinois State University and a M.S. in Taxation from Golden Gate University. (Original Source)
Shares of Yelp closed last Friday at $22.17. YELP has a 1-year high of $73.41 and a 1-year low of $20.50. The stock’s 50-day moving average is $24.34 and its 200-day moving average is $38.30.
On the ratings front, Yelp has been the subject of a number of recent research reports. In a report issued on September 25, Suntrust Robinson Humphrey analyst Robert Peck maintained a Buy rating on YELP, with a price target of $32, which represents a potential upside of 44.3% from where the stock is currently trading. Separately, on September 24, Northland Securities’ Darren Aftahi reiterated a Sell rating on the stock and has a price target of $17.75.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Robert Peck and Darren Aftahi have a total average return of 7.1% and 0.2% respectively. Peck has a success rate of 53.2% and is ranked #493 out of 3759 analysts, while Aftahi has a success rate of 50.8% and is ranked #2272.
Overall, 2 research analysts have rated the stock with a Sell rating, 14 research analysts have assigned a Hold rating and 8 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $34.50 which is 55.6% above where the stock closed last Friday.
Yelp Inc operates local search website that connects people with local businesses. The Company provides local advertising, brand advertising, and other services.