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

Yelp (NYSE:YELP) had its price target boosted by equities researchers at Morgan Stanley from $34.00 to $35.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “underweight” rating on the local business review company’s stock. Morgan Stanley’s target price indicates a potential downside of 9.96% from the stock’s current price.

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

Yelp Price Performance

Yelp stock opened at $38.87 on Monday. Yelp has a 12 month low of $32.56 and a 12 month high of $45.91. The company has a fifty day moving average price of $38.17 and a two-hundred day moving average price of $35.97. The company has a market cap of $2.56 billion, a PE ratio of 23.28, a P/E/G ratio of 0.71 and a beta of 1.34.

Insider Buying and Selling at Yelp

In other Yelp news, insider Carmen Amara sold 12,854 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,389,992.21. This trade represents a 12.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David A. Schwarzbach sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $38.29, for a total transaction of $382,900.00. Following the completion of the sale, the chief financial officer now directly owns 211,988 shares of the company’s stock, valued at approximately $8,117,020.52. This represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,865 shares of company stock valued at $1,734,268 in the last quarter. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Yelp

Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Yelp by 6.1% in the second quarter. American Century Companies Inc. now owns 106,972 shares of the local business review company’s stock valued at $3,953,000 after buying an additional 6,191 shares during the period. BOKF NA acquired a new stake in Yelp in the 2nd quarter valued at about $316,000. Meeder Asset Management Inc. bought a new position in shares of Yelp during the 2nd quarter valued at about $25,000. Dimensional Fund Advisors LP grew its stake in shares of Yelp by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,693,819 shares of the local business review company’s stock worth $62,587,000 after purchasing an additional 33,046 shares during the last quarter. Finally, Edgestream Partners L.P. raised its holdings in shares of Yelp by 159.4% in the 2nd quarter. Edgestream Partners L.P. now owns 169,786 shares of the local business review company’s stock worth $6,274,000 after purchasing an additional 104,330 shares in the last quarter. 90.11% of the stock is currently owned by institutional investors and hedge funds.

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.