Yelp (NYSE:YELP) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Yelp (NYSE:YELP) had its target price raised by equities research analysts at Morgan Stanley from $34.00 to $35.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the local business review company’s stock. Morgan Stanley’s price objective points to a potential downside of 9.96% from the company’s current price.

A number of other equities research analysts also recently issued reports on YELP. The Goldman Sachs Group downgraded shares of Yelp from a “buy” rating to a “neutral” rating and lowered their target price for the company from $46.00 to $38.00 in a report on Monday, October 14th. Evercore ISI upgraded Yelp to a “hold” rating in a report on Monday, November 11th. Bank of America initiated coverage on Yelp in a report on Monday, September 16th. They issued an “underperform” rating and a $30.00 target price on the stock. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Robert W. Baird reduced their price objective on Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Yelp presently has an average rating of “Hold” and a consensus target price of $37.17.

Yelp Price Performance

YELP opened at $38.87 on Monday. Yelp has a 12 month low of $32.56 and a 12 month high of $45.91. The business has a 50-day moving average of $38.17 and a two-hundred day moving average of $35.97. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34.

Insider Activity

In related news, insider Craig Saldanha sold 1,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $37.99, for a total transaction of $37,990.00. Following the completion of the sale, the insider now directly owns 183,558 shares of the company’s stock, valued at approximately $6,973,368.42. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Sam Eaton sold 10,744 shares of the business’s 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 completion of the transaction, the chief technology officer now owns 122,480 shares in the company, valued at $4,301,497.60. This represents a 8.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,865 shares of company stock worth $1,734,268. 7.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Yelp

A number of hedge funds have recently bought and sold shares of YELP. Exchange Traded Concepts LLC raised its position in shares of Yelp by 54.5% in the 3rd 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. GAMMA Investing LLC raised its holdings in Yelp by 115.9% in the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock valued at $34,000 after acquiring an additional 524 shares in the last quarter. Signaturefd LLC boosted its stake in Yelp by 98.5% during the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock valued at $41,000 after acquiring an additional 583 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Yelp during the 2nd quarter worth $25,000. Finally, Quarry LP increased its position in shares of Yelp by 153.4% in 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 during the last quarter. 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.