Yelp (NYSE:YELP) Upgraded to “Hold” at Evercore ISI

Evercore ISI upgraded shares of Yelp (NYSE:YELP) to a hold rating in a report published on Monday morning,Zacks.com reports.

A number of other analysts have also recently commented on the stock. StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a research note on Monday. Morgan Stanley raised their target price on shares of Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Bank of America assumed coverage on Yelp in a research report on Monday, September 16th. They set an “underperform” rating and a $30.00 price target on the stock. Robert W. Baird cut their price objective on Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Finally, The Goldman Sachs Group lowered 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 report on Monday, October 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.00.

Yelp Trading Down 1.2 %

NYSE YELP opened at $36.43 on Monday. Yelp has a 12 month low of $32.56 and a 12 month high of $48.99. The stock has a 50 day moving average of $34.54 and a 200-day moving average of $35.68. The company has a market cap of $2.44 billion, a PE ratio of 21.81, a PEG ratio of 0.71 and a beta of 1.33.

Insider Transactions at Yelp

In other Yelp news, insider Carmen Amara sold 12,854 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $38.17, for a total transaction of $490,637.18. Following the transaction, the insider now owns 88,813 shares in the company, valued at $3,389,992.21. This represents a 12.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $34.02, for a total transaction of $238,140.00. Following the completion of the sale, the chief operating officer now owns 255,558 shares of the company’s stock, valued at approximately $8,694,083.16. The trade was a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,630 shares of company stock worth $1,105,937. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Yelp

A number of large investors have recently added to or reduced their stakes in the stock. CWM LLC raised its holdings in Yelp by 24.7% in the 2nd quarter. CWM LLC now owns 1,903 shares of the local business review company’s stock valued at $70,000 after acquiring an additional 377 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in 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 purchasing an additional 405 shares in the last quarter. Fifth Third Bancorp lifted its position in Yelp by 262.8% during the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock worth $25,000 after purchasing an additional 481 shares during the period. GAMMA Investing LLC grew its stake in 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 buying an additional 524 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Yelp by 98.5% in the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock valued at $41,000 after buying an additional 583 shares during the period. Institutional investors and hedge funds own 90.11% of the company’s stock.

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.