Yelp (NYSE:YELP) Price Target Raised to $35.00

Yelp (NYSE:YELP) had its target price lifted by Morgan Stanley from $34.00 to $35.00 in a research note released on Monday morning,Benzinga reports. They currently have an underweight rating on the local business review company’s stock.

YELP has been the subject of several other reports. Evercore ISI raised Yelp to a “hold” rating in a research report on Monday, November 11th. Robert W. Baird lowered their target price on Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 8th. The Goldman Sachs Group cut Yelp from a “buy” rating to a “neutral” rating and cut their price target for the stock from $46.00 to $38.00 in a report on Monday, October 14th. 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 price objective for the company. Finally, StockNews.com raised shares of Yelp from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Yelp presently has a consensus rating of “Hold” and a consensus price target of $37.17.

Yelp Stock Up 2.9 %

Shares of NYSE YELP opened at $39.97 on Monday. The company has a market capitalization of $2.63 billion, a PE ratio of 23.93, a P/E/G ratio of 0.71 and a beta of 1.34. Yelp has a twelve month low of $32.56 and a twelve month high of $45.91. The firm has a fifty day simple moving average of $38.31 and a 200 day simple moving average of $36.01.

Insiders Place Their Bets

In related news, CFO David A. Schwarzbach sold 10,000 shares of Yelp stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $38.29, for a total transaction of $382,900.00. Following the transaction, the chief financial officer now owns 211,988 shares of the company’s stock, valued at $8,117,020.52. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Carmen Amara sold 12,854 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.17, for a total value of $490,637.18. Following the sale, the insider now owns 88,813 shares of the company’s stock, valued at $3,389,992.21. This trade represents a 12.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,865 shares of company stock worth $1,734,268. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Yelp

Hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of Yelp during the second quarter valued at about $25,000. GAMMA Investing LLC increased its stake in Yelp by 115.9% in the 3rd quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock valued at $34,000 after buying an additional 524 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of 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 buying an additional 405 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Yelp by 98.5% in the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock worth $41,000 after buying an additional 583 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Yelp by 153.4% in the second quarter. Quarry LP now owns 1,323 shares of the local business review company’s stock valued at $49,000 after acquiring an additional 801 shares in the last quarter. 90.11% of the stock is 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.