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

Shares of Yelp Inc. (NYSE:YELP) have earned an average rating of “Reduce” from the nine brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $37.00.

A number of research firms recently issued reports on YELP. StockNews.com raised Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Bank of America began coverage on Yelp in a report on Monday, September 16th. They set an “underperform” rating and a $30.00 price target for the company. The Goldman Sachs Group downgraded Yelp from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $46.00 to $38.00 in a report on Monday, October 14th. Robert W. Baird reduced their target price on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, Evercore ISI upgraded shares of Yelp to a “hold” rating in a report on Monday, November 11th.

Insider Activity

In other Yelp news, insider Craig Saldanha sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $38.05, for a total value of $38,050.00. Following the completion of the transaction, the insider now owns 184,558 shares of the company’s stock, valued at $7,022,431.90. This represents a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Carmen Amara sold 12,854 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.17, for a total transaction of $490,637.18. Following the transaction, the insider now directly owns 88,813 shares of the company’s stock, valued at $3,389,992.21. The trade was a 12.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,865 shares of company stock valued at $1,734,268. 7.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Yelp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in Yelp by 1.8% in the third quarter. Pacer Advisors Inc. now owns 2,743,899 shares of the local business review company’s stock valued at $96,256,000 after acquiring an additional 48,363 shares during the last quarter. State Street Corp increased its holdings in shares of Yelp by 0.9% in the third quarter. State Street Corp now owns 2,553,227 shares of the local business review company’s stock worth $89,567,000 after acquiring an additional 23,719 shares in the last quarter. Geode Capital Management LLC increased its stake in Yelp by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,759,229 shares of the local business review company’s stock worth $61,724,000 after purchasing an additional 64,381 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Yelp by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,693,819 shares of the local business review company’s stock worth $62,587,000 after acquiring an additional 33,046 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Yelp by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,174,607 shares of the local business review company’s stock worth $41,205,000 after purchasing an additional 56,618 shares in the last quarter. 90.11% of the stock is currently owned by institutional investors and hedge funds.

Yelp Stock Performance

Yelp stock opened at $38.99 on Friday. Yelp has a twelve month low of $32.56 and a twelve month high of $45.91. 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. The firm’s 50 day moving average price is $37.89 and its two-hundred day moving average price is $35.93.

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.