Robert W. Baird Cuts Yelp (NYSE:YELP) Price Target to $37.00

Yelp (NYSE:YELP) had its target price reduced by Robert W. Baird from $39.00 to $37.00 in a research note released on Friday morning,Benzinga reports. They currently have a neutral rating on the local business review company’s stock.

Several other research firms also recently weighed in on YELP. StockNews.com downgraded shares of Yelp from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Wolfe Research initiated coverage on Yelp in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Bank of America assumed coverage on Yelp in a research report on Monday, September 16th. They set an “underperform” rating and a $30.00 price target on the stock. The Goldman Sachs Group downgraded Yelp from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $46.00 to $38.00 in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. cut their target price on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Yelp currently has a consensus rating of “Hold” and an average target price of $37.00.

Yelp Trading Down 1.2 %

Shares of Yelp stock opened at $35.93 on Friday. The business’s 50-day moving average price is $34.30 and its 200-day moving average price is $35.70. The firm has a market capitalization of $2.40 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 0.83 and a beta of 1.33. Yelp has a 12 month low of $32.56 and a 12 month high of $48.99.

Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, August 8th. The local business review company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. Yelp had a net margin of 8.48% and a return on equity of 16.05%. The firm had revenue of $357.00 million for the quarter, compared to the consensus estimate of $352.98 million. During the same period last year, the firm posted $0.21 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. As a group, analysts predict that Yelp will post 1.67 earnings per share for the current fiscal year.

Insider Activity at Yelp

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of YELP. Fifth Third Bancorp lifted its holdings in shares of Yelp by 262.8% during the second 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 Yelp during the 2nd quarter valued at approximately $25,000. GAMMA Investing LLC raised its stake in Yelp by 115.9% during the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock valued at $34,000 after buying an additional 524 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Yelp by 54.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock worth $40,000 after acquiring an additional 405 shares in the last quarter. Finally, Signaturefd LLC grew its position 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 purchasing an additional 583 shares during the last quarter. 90.11% of the stock is 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.