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

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

Several research analysts recently commented on the stock. Evercore ISI raised shares of Yelp to a “hold” rating in a research note on Monday, November 11th. Bank of America assumed coverage on Yelp in a report on Monday, September 16th. They set an “underperform” rating and a $30.00 price objective on the stock. The Goldman Sachs Group lowered Yelp from a “buy” rating to a “neutral” rating and cut their price target for the company from $46.00 to $38.00 in a research note on Monday, October 14th. StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. 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.

Insiders Place Their Bets

In other news, CTO Sam Eaton sold 10,744 shares of Yelp stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.12, for a total transaction of $377,329.28. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the insider now owns 88,813 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 45,865 shares of company stock worth $1,734,268. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Yelp

A number of hedge funds have recently made changes to their positions in YELP. Meeder Asset Management Inc. acquired a new position in shares of Yelp in the second quarter valued at approximately $25,000. GAMMA Investing LLC increased its position in shares of Yelp by 115.9% during the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after acquiring an additional 524 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Yelp by 54.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock valued at $40,000 after acquiring an additional 405 shares in the last quarter. Signaturefd LLC boosted its holdings in Yelp by 98.5% in the third quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock valued at $41,000 after purchasing an additional 583 shares during the period. Finally, Quarry LP grew its stake in Yelp by 153.4% during the 2nd quarter. Quarry LP now owns 1,323 shares of the local business review company’s stock worth $49,000 after purchasing an additional 801 shares in the last quarter. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Yelp Stock Performance

Shares of NYSE YELP opened at $40.09 on Friday. The company has a market cap of $2.64 billion, a P/E ratio of 24.01, a P/E/G ratio of 0.71 and a beta of 1.34. Yelp has a 52-week low of $32.56 and a 52-week high of $46.07. The firm’s fifty day moving average is $37.71 and its two-hundred day moving average is $35.89.

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.