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

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

Several research firms have recently issued reports on YELP. JPMorgan Chase & Co. lowered their price objective on Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. The Goldman Sachs Group cut Yelp from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $46.00 to $38.00 in a research note on Monday, October 14th. Robert W. Baird dropped their price target on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. 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 objective for the company. Finally, StockNews.com raised shares of Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th.

Insider Transactions at Yelp

In other news, COO Joseph R. Nachman sold 7,000 shares of the company’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 completion of the sale, the chief operating officer now directly owns 255,558 shares of the company’s stock, valued at approximately $8,694,083.16. This represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Sam Eaton sold 10,776 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $35.00, for a total transaction of $377,160.00. Following the sale, the chief technology officer now owns 145,171 shares of the company’s stock, valued at $5,080,985. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,630 shares of company stock worth $1,105,937. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quest Partners LLC boosted its holdings in shares of Yelp by 132.7% in the second quarter. Quest Partners LLC now owns 27,094 shares of the local business review company’s stock valued at $1,001,000 after acquiring an additional 15,451 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in Yelp in the 1st quarter valued at approximately $594,000. CANADA LIFE ASSURANCE Co increased its position in Yelp by 7.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 61,150 shares of the local business review company’s stock worth $2,409,000 after purchasing an additional 4,306 shares during the period. Ceera Investments LLC raised its stake in shares of Yelp by 13.6% during the 2nd quarter. Ceera Investments LLC now owns 173,597 shares of the local business review company’s stock worth $6,414,000 after buying an additional 20,780 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Yelp by 11.0% in the 2nd quarter. Algert Global LLC now owns 189,864 shares of the local business review company’s stock valued at $7,015,000 after buying an additional 18,786 shares during the period. 90.11% of the stock is currently owned by hedge funds and other institutional investors.

Yelp Trading Down 1.3 %

Yelp stock opened at $35.95 on Friday. The stock has a market cap of $2.41 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 0.66 and a beta of 1.33. The company has a fifty day simple moving average of $34.58 and a 200-day simple moving average of $35.58. Yelp has a 12-month low of $32.56 and a 12-month 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.