Analysts Set Yelp Inc. (NYSE:YELP) PT at $37.00

Shares of Yelp Inc. (NYSE:YELP) have been given a consensus recommendation of “Reduce” by the nine research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $37.00.

A number of brokerages recently weighed in on YELP. Robert W. Baird lowered their price objective on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Bank of America began coverage on shares of Yelp in a research report on Monday, September 16th. They set an “underperform” rating and a $30.00 price objective 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. Evercore ISI upgraded shares of Yelp to a “hold” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group downgraded shares of Yelp from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $46.00 to $38.00 in a research report on Monday, October 14th.

Insider Transactions at Yelp

In other news, insider Craig Saldanha sold 1,000 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $38.05, for a total value of $38,050.00. Following the completion of the sale, the insider now directly owns 184,558 shares of the company’s stock, valued at $7,022,431.90. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Sam Eaton sold 10,744 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $35.12, for a total transaction of $377,329.28. Following the transaction, the chief technology officer now directly owns 122,480 shares of the company’s stock, valued at $4,301,497.60. The trade was a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,865 shares of company stock valued at $1,734,268 over the last three months. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Yelp

Several institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its stake in Yelp by 1.8% during the third quarter. Pacer Advisors Inc. now owns 2,743,899 shares of the local business review company’s stock valued at $96,256,000 after acquiring an additional 48,363 shares in the last quarter. State Street Corp lifted its position in Yelp by 0.9% during the third quarter. State Street Corp now owns 2,553,227 shares of the local business review company’s stock valued at $89,567,000 after purchasing an additional 23,719 shares during the last quarter. Geode Capital Management LLC lifted its position in Yelp by 3.8% during the third quarter. Geode Capital Management LLC now owns 1,759,229 shares of the local business review company’s stock valued at $61,724,000 after purchasing an additional 64,381 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Yelp by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,693,819 shares of the local business review company’s stock valued at $62,587,000 after purchasing an additional 33,046 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Yelp by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,174,607 shares of the local business review company’s stock valued at $41,205,000 after purchasing an additional 56,618 shares during the last quarter. 90.11% of the stock is owned by hedge funds and other institutional investors.

Yelp Stock Performance

Shares of NYSE YELP opened at $38.49 on Friday. The firm’s 50 day moving average price is $37.99 and its 200-day moving average price is $35.95. The company has a market cap of $2.53 billion, a PE ratio of 23.05, a P/E/G ratio of 0.71 and a beta of 1.34. Yelp has a 52-week low of $32.56 and a 52-week high of $45.91.

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.