Brokerages Set Yelp Inc. (NYSE:YELP) Price Target at $37.00

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

Several equities research analysts have commented on YELP shares. Bank of America started coverage on shares of Yelp in a research report on Monday, September 16th. They set an “underperform” rating and a $30.00 price target on the stock. StockNews.com raised Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Evercore ISI raised Yelp to a “hold” rating in a research report on Monday, November 11th. Robert W. Baird cut their price objective on Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, The Goldman Sachs Group downgraded shares of Yelp from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $46.00 to $38.00 in a report on Monday, October 14th.

Insider Buying and Selling at Yelp

In other Yelp news, CTO Sam Eaton sold 10,744 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $35.12, for a total value 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. This represents a 8.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carmen Amara sold 12,854 shares of the business’s stock in a transaction that occurred 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 approximately $3,389,992.21. This represents a 12.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,865 shares of company stock valued at $1,734,268 in the last quarter. 7.40% of the stock is currently owned by insiders.

Institutional Trading of Yelp

Several institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in Yelp during the 2nd quarter worth $25,000. GAMMA Investing LLC grew its stake in shares of Yelp by 115.9% in the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock valued at $34,000 after acquiring an additional 524 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Yelp by 54.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock worth $40,000 after acquiring an additional 405 shares during the period. Signaturefd LLC raised its stake in 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 purchasing an additional 583 shares in the last quarter. Finally, Quarry LP boosted its holdings in Yelp by 153.4% in the 2nd quarter. Quarry LP now owns 1,323 shares of the local business review company’s stock valued at $49,000 after purchasing an additional 801 shares during the period. 90.11% of the stock is currently owned by institutional investors.

Yelp Stock Down 0.9 %

Shares of YELP stock opened at $38.99 on Friday. Yelp has a 12 month low of $32.56 and a 12 month high of $45.91. The company’s fifty day simple moving average is $37.89 and its 200-day simple moving average is $35.93. The firm has a market cap of $2.57 billion, a PE ratio of 23.35, a P/E/G ratio of 0.71 and a beta of 1.34.

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.