Yelp (NYSE:YELP) Rating Increased to Hold at Evercore ISI

Evercore ISI upgraded shares of Yelp (NYSE:YELP) to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other analysts have also weighed in on YELP. Morgan Stanley upped their target price on Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a research note on Monday. Wolfe Research began coverage on shares of Yelp in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Bank of America began coverage on shares of Yelp in a research report on Monday, September 16th. They issued an “underperform” rating and a $30.00 price objective on the stock. Finally, The Goldman Sachs Group lowered shares of Yelp from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $46.00 to $38.00 in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.00.

Yelp Stock Performance

Shares of NYSE:YELP opened at $38.21 on Monday. The firm has a market cap of $2.56 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 0.70 and a beta of 1.33. The firm’s 50 day simple moving average is $34.44 and its 200-day simple moving average is $35.67. Yelp has a one year low of $32.56 and a one year high of $48.99.

Insider Activity

In other news, CTO Sam Eaton sold 10,776 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $35.00, for a total transaction of $377,160.00. Following the sale, the chief technology officer now directly owns 145,171 shares of the company’s stock, valued at $5,080,985. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $34.02, for a total value of $238,140.00. Following the sale, the chief operating officer now directly owns 255,558 shares in the company, valued at approximately $8,694,083.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Sam Eaton sold 10,776 shares of the 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 transaction, the chief technology officer now directly owns 145,171 shares of the company’s stock, valued at $5,080,985. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Yelp

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC grew its holdings in Yelp by 24.7% in the 2nd quarter. CWM LLC now owns 1,903 shares of the local business review company’s stock valued at $70,000 after buying an additional 377 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Yelp by 54.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock valued at $40,000 after purchasing an additional 405 shares during the period. Fifth Third Bancorp increased its position in Yelp by 262.8% during the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock worth $25,000 after purchasing an additional 481 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 buying an additional 524 shares during the last quarter. Finally, Signaturefd LLC raised its position in Yelp by 98.5% in the third 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 during the period. 90.11% of the stock is owned by hedge funds and other institutional investors.

About Yelp

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.