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

Shares of Yelp Inc. (NYSE:YELP) have been given an average rating of “Reduce” by the nine brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $37.00.

Several research analysts have recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Bank of America began coverage on shares of Yelp in a research 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 reduced 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. Finally, StockNews.com raised Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th.

Yelp Trading Down 1.2 %

Shares of YELP opened at $39.71 on Tuesday. The business’s 50-day moving average price is $36.17 and its 200 day moving average price is $35.60. The stock has a market capitalization of $2.61 billion, a P/E ratio of 23.78, a P/E/G ratio of 0.71 and a beta of 1.35. Yelp has a 1-year low of $32.56 and a 1-year high of $48.99.

Insider Transactions at Yelp

In related news, insider Craig Saldanha sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $38.05, for a total value of $38,050.00. Following the completion of the sale, the insider now owns 184,558 shares of the company’s stock, valued at approximately $7,022,431.90. The trade was a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Carmen Amara sold 12,854 shares of the firm’s 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 directly owns 88,813 shares in the company, valued at approximately $3,389,992.21. The trade was a 12.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,865 shares of company stock valued at $1,537,218. 7.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Yelp

Institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC boosted its position in Yelp by 1,089.2% during the second quarter. Millennium Management LLC now owns 188,371 shares of the local business review company’s stock worth $6,960,000 after purchasing an additional 172,531 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Yelp by 114.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 279,180 shares of the local business review company’s stock worth $9,794,000 after buying an additional 148,917 shares during the last quarter. Barclays PLC boosted its holdings in shares of Yelp by 347.9% during the 3rd quarter. Barclays PLC now owns 160,363 shares of the local business review company’s stock worth $5,627,000 after buying an additional 124,561 shares during the period. Pacer Advisors Inc. grew its stake in Yelp by 4.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,695,536 shares of the local business review company’s stock valued at $99,600,000 after buying an additional 111,936 shares during the last quarter. Finally, Bridgewater Associates LP raised its holdings in Yelp by 136.5% in the 3rd quarter. Bridgewater Associates LP now owns 181,622 shares of the local business review company’s stock worth $6,371,000 after acquiring an additional 104,839 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.