Yelp (NYSE:YELP) Stock Rating Upgraded by Evercore ISI

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

YELP has been the topic of several other research reports. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a report on Monday. The Goldman Sachs Group lowered shares of Yelp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $46.00 to $38.00 in a report on Monday, October 14th. Wolfe Research assumed coverage on Yelp in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Bank of America started coverage on Yelp in a research report on Monday, September 16th. They set an “underperform” rating and a $30.00 price objective for the company. Finally, Morgan Stanley boosted their target price on Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.00.

Yelp Price Performance

Shares of NYSE:YELP opened at $38.21 on Monday. The firm’s 50-day moving average is $34.44 and its two-hundred day moving average is $35.67. Yelp has a 1 year low of $32.56 and a 1 year high of $48.99. The firm has a market capitalization of $2.56 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 0.70 and a beta of 1.33.

Insider Activity

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

Institutional Trading of Yelp

Institutional investors have recently modified their holdings of the business. Daiwa Securities Group Inc. increased its holdings in Yelp by 62.2% in the third quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the local business review company’s stock valued at $256,000 after buying an additional 2,800 shares in the last quarter. Algert Global LLC raised its holdings in Yelp by 7.5% during the third quarter. Algert Global LLC now owns 204,077 shares of the local business review company’s stock worth $7,159,000 after purchasing an additional 14,213 shares during the last quarter. Cerity Partners LLC boosted its position in Yelp by 6.2% during the third quarter. Cerity Partners LLC now owns 239,640 shares of the local business review company’s stock worth $8,407,000 after purchasing an additional 13,993 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Yelp by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,174,607 shares of the local business review company’s stock valued at $41,205,000 after purchasing an additional 56,618 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Yelp by 1.8% in the 3rd quarter. Pacer Advisors Inc. now owns 2,743,899 shares of the local business review company’s stock worth $96,256,000 after buying an additional 48,363 shares in the last quarter. 90.11% of the stock is currently owned by hedge funds and other institutional investors.

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.