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

Yelp Inc. (NYSE:YELP) has been given a consensus recommendation of “Reduce” by the nine research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $37.00.

Several equities research analysts have issued reports on the stock. Robert W. Baird cut their price objective on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Evercore ISI raised Yelp to a “hold” rating in a report on Monday, November 11th. StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Bank of America assumed coverage on shares of Yelp in a research report on Monday, September 16th. They issued an “underperform” rating and a $30.00 price target for the company. Finally, JPMorgan Chase & Co. cut their target price on Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, August 12th.

Insider Buying and Selling at Yelp

In other news, insider Carmen Amara sold 12,854 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $38.17, for a total transaction of $490,637.18. Following the completion of the transaction, the insider now owns 88,813 shares of the company’s stock, valued at approximately $3,389,992.21. This trade represents a 12.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph R. Nachman sold 7,000 shares of the stock in a transaction on Friday, October 4th. The shares were 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 $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 30,598 shares of company stock worth $1,106,106 over the last quarter. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Yelp

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its stake in Yelp by 207.2% in the first quarter. SG Americas Securities LLC now owns 12,804 shares of the local business review company’s stock valued at $504,000 after purchasing an additional 8,636 shares in the last quarter. Headlands Technologies LLC acquired a new position in Yelp during the 1st quarter worth approximately $70,000. ProShare Advisors LLC boosted its holdings in Yelp by 7.3% in the first quarter. ProShare Advisors LLC now owns 13,467 shares of the local business review company’s stock worth $531,000 after acquiring an additional 921 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Yelp by 13.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 39,065 shares of the local business review company’s stock valued at $1,539,000 after acquiring an additional 4,528 shares during the period. Finally, Councilmark Asset Management LLC bought a new stake in shares of Yelp during the first quarter valued at approximately $363,000. Institutional investors own 90.11% of the company’s stock.

Yelp Price Performance

Shares of YELP opened at $35.58 on Friday. The company’s 50-day moving average is $34.78 and its 200-day moving average is $35.52. The firm has a market capitalization of $2.34 billion, a PE ratio of 21.31, a PEG ratio of 0.66 and a beta of 1.33. Yelp has a fifty-two week low of $32.56 and a fifty-two week high of $48.99.

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.