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

Yelp Inc. (NYSE:YELP) has been assigned an average rating of “Reduce” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $37.00.

Several research analysts have issued reports on the company. Evercore ISI upgraded Yelp to a “hold” rating in a research note on Monday, November 11th. 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 reduced their price target 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. The Goldman Sachs Group lowered shares of Yelp from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $46.00 to $38.00 in a report on Monday, October 14th. Finally, Bank of America assumed coverage on shares of Yelp in a research note on Monday, September 16th. They issued an “underperform” rating and a $30.00 target price for the company.

Yelp Trading Up 0.3 %

YELP stock opened at $39.83 on Tuesday. The firm has a market cap of $2.62 billion, a P/E ratio of 23.85, a P/E/G ratio of 0.71 and a beta of 1.35. Yelp has a 1-year low of $32.56 and a 1-year high of $48.99. The business’s 50 day moving average is $36.28 and its 200-day moving average is $35.62.

Insider Activity

In other news, CTO Sam Eaton sold 10,744 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.12, for a total transaction of $377,329.28. Following the transaction, the chief technology officer now owns 122,480 shares of the company’s stock, valued at $4,301,497.60. This represents a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the chief operating officer now owns 255,558 shares of the company’s stock, valued at approximately $8,694,083.16. The trade was a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,865 shares of company stock valued at $1,537,218 over the last three months. 7.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Yelp

Institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. boosted its stake in Yelp by 1.8% in 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 during the last quarter. State Street Corp lifted its stake in shares of Yelp by 0.9% in the 3rd 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 period. Geode Capital Management LLC lifted its stake in shares of Yelp by 3.8% in the 3rd 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 period. Dimensional Fund Advisors LP boosted its position in shares of Yelp by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,693,819 shares of the local business review company’s stock worth $62,587,000 after purchasing an additional 33,046 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $41,205,000 after purchasing an additional 56,618 shares during the period. 90.11% of the stock is owned by 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.