Robert W. Baird Has Lowered Expectations for Yelp (NYSE:YELP) Stock Price

Yelp (NYSE:YELP) had its price objective decreased by equities research analysts at Robert W. Baird from $39.00 to $37.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the local business review company’s stock. Robert W. Baird’s price objective suggests a potential upside of 2.98% from the company’s current price.

YELP has been the topic of several other reports. Bank of America initiated coverage on shares of Yelp in a report on Monday, September 16th. They set an “underperform” rating and a $30.00 target price on the stock. JPMorgan Chase & Co. cut their price objective 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. Wolfe Research initiated coverage on shares of Yelp in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. The Goldman Sachs Group downgraded Yelp from a “buy” rating to a “neutral” rating and dropped their price target for the company from $46.00 to $38.00 in a research note on Monday, October 14th. Finally, Morgan Stanley upped their price objective on Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Yelp presently has an average rating of “Hold” and an average price target of $37.00.

Yelp Stock Down 1.2 %

Shares of YELP stock opened at $35.93 on Friday. Yelp has a 12-month low of $32.56 and a 12-month high of $48.99. The firm has a fifty day moving average of $34.30 and a 200-day moving average of $35.73. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 0.84 and a beta of 1.33.

Yelp (NYSE:YELP) last posted its earnings results on Thursday, August 8th. The local business review company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Yelp had a return on equity of 18.71% and a net margin of 10.01%. The firm had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $352.98 million. During the same period in the previous year, the firm earned $0.21 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis. Research analysts expect that Yelp will post 1.69 earnings per share for the current year.

Insider Transactions at Yelp

In related news, CTO Sam Eaton sold 10,776 shares of Yelp stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $35.00, for a total value of $377,160.00. Following the sale, the chief technology officer now owns 145,171 shares of the company’s stock, valued at approximately $5,080,985. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $34.02, for a total value of $238,140.00. Following the completion of the sale, the chief operating officer now directly owns 255,558 shares in the company, valued at approximately $8,694,083.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Sam Eaton sold 10,776 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $35.00, for a total value of $377,160.00. Following the transaction, the chief technology officer now directly owns 145,171 shares in the company, valued at approximately $5,080,985. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in YELP. Fifth Third Bancorp lifted its holdings in Yelp by 262.8% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock valued at $25,000 after purchasing an additional 481 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Yelp in the second quarter valued at about $25,000. GAMMA Investing LLC lifted its stake in shares of Yelp by 115.9% during the 3rd 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 during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Yelp by 54.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock worth $40,000 after buying an additional 405 shares during the period. Finally, Signaturefd LLC grew its stake 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 last quarter. 90.11% of the stock is currently owned by institutional investors.

Yelp Company Profile

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.