Yelp Inc. (NYSE:YELP) Receives $37.00 Consensus Target Price from Analysts

Shares of Yelp Inc. (NYSE:YELP) have been assigned a consensus recommendation of “Reduce” from the nine ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $37.00.

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Robert W. Baird cut their price target on Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Morgan Stanley boosted their price objective on Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group downgraded Yelp from a “buy” rating to a “neutral” rating and cut their target price for the stock from $46.00 to $38.00 in a research note on Monday, October 14th. Finally, Evercore ISI raised shares of Yelp to a “hold” rating in a research report on Monday, November 11th.

Yelp Stock Performance

Shares of YELP opened at $35.95 on Friday. The stock has a 50 day moving average price of $34.58 and a 200 day moving average price of $35.58. Yelp has a one year low of $32.56 and a one year high of $48.99. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 0.66 and a beta of 1.33.

Insider Buying and Selling

In related news, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $34.02, for a total value of $238,140.00. Following the completion of the sale, the chief operating officer now owns 255,558 shares in the company, valued at approximately $8,694,083.16. This trade represents a 2.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Sam Eaton sold 10,776 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $35.00, for a total value of $377,160.00. Following the completion of the sale, the chief technology officer now directly owns 145,171 shares in the company, valued at approximately $5,080,985. The trade was a 6.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,630 shares of company stock valued at $1,105,937. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Yelp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp boosted its position in Yelp by 262.8% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock valued at $25,000 after buying an additional 481 shares during the period. Meeder Asset Management Inc. purchased a new position in Yelp in the second quarter valued at $25,000. GAMMA Investing LLC grew its stake in Yelp by 115.9% during the 3rd quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after purchasing an additional 524 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Yelp by 54.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock worth $40,000 after purchasing an additional 405 shares during the period. Finally, Signaturefd LLC raised its position in Yelp by 98.5% in the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock valued at $41,000 after purchasing an additional 583 shares in the last quarter. 90.11% of the stock is currently owned by hedge funds and other institutional investors.

Yelp Company Profile

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.