Yelp Inc. (NYSE:YELP) Given Average Rating of “Reduce” by Analysts

Shares of Yelp Inc. (NYSE:YELP) have earned an average rating of “Reduce” from the seven analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $37.20.

YELP has been the subject of several analyst reports. Morgan Stanley increased their target price on shares of Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their target price on Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. StockNews.com downgraded Yelp from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Wolfe Research started coverage on Yelp in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Bank of America initiated coverage on Yelp in a research note on Monday, September 16th. They issued an “underperform” rating and a $30.00 price objective for the company.

Yelp Price Performance

YELP opened at $35.07 on Thursday. Yelp has a fifty-two week low of $32.56 and a fifty-two week high of $48.99. The firm has a market capitalization of $2.37 billion, a PE ratio of 22.34, a P/E/G ratio of 0.82 and a beta of 1.33. The company’s 50-day moving average is $34.45 and its 200 day moving average is $36.73.

Yelp (NYSE:YELP) last issued its quarterly earnings data on Thursday, August 8th. The local business review company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. Yelp had a return on equity of 18.71% and a net margin of 10.01%. The firm had revenue of $357.00 million during the quarter, compared to the consensus estimate of $352.98 million. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, analysts expect that Yelp will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Sam Eaton sold 10,776 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $35.00, for a total transaction of $377,160.00. Following the transaction, the chief technology officer now owns 145,171 shares of the company’s stock, valued at approximately $5,080,985. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $33.25, for a total value of $232,750.00. Following the completion of the transaction, the chief operating officer now directly owns 281,842 shares of the company’s stock, valued at approximately $9,371,246.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Sam Eaton sold 10,776 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $5,080,985. The disclosure for this sale can be found here. Insiders sold 24,776 shares of company stock valued at $863,590 over the last ninety days. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Yelp

Several hedge funds have recently made changes to their positions in YELP. Mirae Asset Global Investments Co. Ltd. grew its stake in Yelp by 0.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,231 shares of the local business review company’s stock valued at $3,398,000 after acquiring an additional 288 shares in the last quarter. CWM LLC grew its position in shares of Yelp by 24.7% during the 2nd quarter. CWM LLC now owns 1,903 shares of the local business review company’s stock valued at $70,000 after purchasing an additional 377 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Yelp by 38.7% in the fourth quarter. Parallel Advisors LLC now owns 1,497 shares of the local business review company’s stock worth $71,000 after purchasing an additional 418 shares during the period. Fifth Third Bancorp raised its position in shares of Yelp by 262.8% in the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock worth $25,000 after buying an additional 481 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC boosted its stake in Yelp by 33.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,036 shares of the local business review company’s stock valued at $80,000 after buying an additional 515 shares during the period. 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.