Brokerages Set Yelp Inc. (NYSE:YELP) Price Target at $37.33

Shares of Yelp Inc. (NYSE:YELP) have received an average rating of “Reduce” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $37.33.

YELP has been the topic of a number of recent research reports. StockNews.com downgraded Yelp from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Morgan Stanley lifted their price objective on shares of Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Bank of America started coverage on shares of Yelp in a research note on Monday, September 16th. They issued an “underperform” rating and a $30.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, August 12th. 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 report on Monday, October 14th.

Yelp Stock Down 0.8 %

Shares of Yelp stock opened at $33.64 on Monday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 0.79 and a beta of 1.33. Yelp has a twelve month low of $32.56 and a twelve month high of $48.99. The business has a 50-day moving average price of $34.22 and a 200-day moving average price of $36.11.

Yelp (NYSE:YELP) last issued its quarterly earnings data on Thursday, August 8th. The local business review company reported $0.54 earnings per share (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 business had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $352.98 million. During the same period in the prior year, the firm earned $0.21 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities analysts expect that Yelp will post 1.65 EPS for the current fiscal year.

Insider Transactions at Yelp

In other Yelp news, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction on Monday, August 5th. The stock was sold at an average price of $33.25, for a total transaction of $232,750.00. Following the completion of the sale, the chief operating officer now directly owns 281,842 shares of the company’s stock, valued at $9,371,246.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CTO Sam Eaton sold 10,776 shares of the business’s 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 completion of the transaction, the chief technology officer now owns 145,171 shares of the company’s stock, valued at $5,080,985. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Joseph R. Nachman sold 7,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $33.25, for a total value of $232,750.00. Following the sale, the chief operating officer now owns 281,842 shares of the company’s stock, valued at approximately $9,371,246.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,776 shares of company stock valued at $848,050. 7.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Yelp

Hedge funds have recently made changes to their positions in the stock. Wealthstar Advisors LLC lifted its position in Yelp by 40.8% during the first quarter. Wealthstar Advisors LLC now owns 9,062 shares of the local business review company’s stock valued at $357,000 after acquiring an additional 2,625 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Yelp by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 396,096 shares of the local business review company’s stock worth $15,606,000 after purchasing an additional 13,496 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Yelp by 0.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,231 shares of the local business review company’s stock worth $3,398,000 after buying an additional 288 shares during the last quarter. BNP Paribas Financial Markets increased its position in Yelp by 9.0% during the 1st quarter. BNP Paribas Financial Markets now owns 63,126 shares of the local business review company’s stock valued at $2,487,000 after buying an additional 5,234 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in Yelp in the first quarter valued at about $449,000. 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.