Yelp Inc. (NYSE:YELP) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Yelp Inc. (NYSE:YELP) have received an average recommendation of “Reduce” from the nine ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $37.00.

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

Insider Transactions at Yelp

In other news, COO Joseph R. Nachman sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $34.02, for a total value of $238,140.00. Following the transaction, the chief operating officer now directly owns 255,558 shares of the company’s stock, valued at $8,694,083.16. The trade was a 2.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Sam Eaton sold 10,744 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.12, for a total value of $377,329.28. Following the sale, the chief technology officer now owns 122,480 shares in the company, valued at $4,301,497.60. The trade was a 8.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,598 shares of company stock valued at $1,106,106. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Yelp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its stake in shares of Yelp by 1,089.2% in the 2nd quarter. Millennium Management LLC now owns 188,371 shares of the local business review company’s stock valued at $6,960,000 after acquiring an additional 172,531 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Yelp by 114.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 279,180 shares of the local business review company’s stock valued at $9,794,000 after purchasing an additional 148,917 shares during the period. Barclays PLC raised its holdings in Yelp by 347.9% in the third quarter. Barclays PLC now owns 160,363 shares of the local business review company’s stock worth $5,627,000 after purchasing an additional 124,561 shares during the period. Pacer Advisors Inc. raised its holdings in Yelp by 4.3% in the second quarter. Pacer Advisors Inc. now owns 2,695,536 shares of the local business review company’s stock worth $99,600,000 after purchasing an additional 111,936 shares during the period. Finally, Bridgewater Associates LP grew its holdings in shares of Yelp by 136.5% in the 3rd quarter. Bridgewater Associates LP now owns 181,622 shares of the local business review company’s stock valued at $6,371,000 after buying an additional 104,839 shares during the period. 90.11% of the stock is owned by institutional investors.

Yelp Price Performance

Shares of Yelp stock opened at $35.58 on Friday. Yelp has a 1-year low of $32.56 and a 1-year high of $48.99. The business has a 50-day moving average of $34.78 and a 200-day moving average of $35.52. The company has a market capitalization of $2.34 billion, a PE ratio of 21.31, a P/E/G ratio of 0.66 and a beta of 1.33.

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.