Robert W. Baird Lowers Yelp (NYSE:YELP) Price Target to $37.00

Yelp (NYSE:YELP) had its target price reduced by Robert W. Baird from $39.00 to $37.00 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the local business review company’s stock.

A number of other brokerages also recently commented on YELP. The Goldman Sachs Group downgraded Yelp from a “buy” rating to a “neutral” rating and decreased their target price for the company from $46.00 to $38.00 in a research note on Monday, October 14th. Wolfe Research began coverage on Yelp in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Bank of America started coverage on Yelp in a research report on Monday, September 16th. They issued an “underperform” rating and a $30.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Morgan Stanley lifted their price objective on shares of Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, five 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, the stock has a consensus rating of “Hold” and an average price target of $37.00.

Yelp Stock Performance

Yelp stock opened at $37.56 on Friday. Yelp has a 1 year low of $32.56 and a 1 year high of $48.99. The firm’s 50-day moving average is $34.35 and its 200-day moving average is $35.68. The company has a market cap of $2.51 billion, a P/E ratio of 22.49, a PEG ratio of 0.83 and a beta of 1.33.

Insider Buying and Selling

In other news, CTO Sam Eaton sold 10,776 shares of the 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 directly owns 145,171 shares in the company, valued at $5,080,985. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Yelp news, COO Joseph R. Nachman sold 7,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $34.02, for a total value of $238,140.00. Following the sale, the chief operating officer now directly owns 255,558 shares in the company, valued at approximately $8,694,083.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Sam Eaton sold 10,776 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $35.00, for a total transaction of $377,160.00. Following the transaction, the chief technology officer now owns 145,171 shares of the company’s stock, valued at approximately $5,080,985. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.

Institutional Trading of Yelp

A number of hedge funds and other institutional investors have recently made changes to their positions in YELP. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Yelp by 0.3% in 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 acquiring an additional 288 shares during the last quarter. BNP Paribas Financial Markets raised its holdings 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 worth $2,487,000 after buying an additional 5,234 shares during the period. Daiwa Securities Group Inc. lifted its stake in Yelp by 633.3% during the first quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the local business review company’s stock valued at $260,000 after buying an additional 5,700 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of Yelp by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 59,927 shares of the local business review company’s stock worth $2,361,000 after buying an additional 776 shares during the period. Finally, Duality Advisers LP acquired a new position in shares of Yelp in the first quarter worth about $235,000. 90.11% of the stock is currently 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.