Yelp Inc. (NYSE:YELP) Given Consensus Recommendation of “Reduce” by Analysts

Yelp Inc. (NYSE:YELP) has been given an average rating of “Reduce” by the nine ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $37.00.

Several research firms have issued reports on YELP. Bank of America assumed coverage on shares of Yelp in a research note on Monday, September 16th. They set an “underperform” rating and a $30.00 price target on the stock. Robert W. Baird lowered their target price on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. The Goldman Sachs Group lowered Yelp from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $46.00 to $38.00 in a research note on Monday, October 14th. Evercore ISI raised Yelp to a “hold” rating in a research report on Monday, November 11th. Finally, StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th.

Insiders Place Their Bets

In other news, CTO Sam Eaton sold 10,744 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $35.12, for a total value of $377,329.28. Following the completion of the sale, the chief technology officer now owns 122,480 shares in the company, valued at approximately $4,301,497.60. This trade represents a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carmen Amara sold 12,854 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $38.17, for a total value of $490,637.18. Following the transaction, the insider now directly owns 88,813 shares in the company, valued at $3,389,992.21. This trade represents a 12.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,865 shares of company stock worth $1,734,268 over the last three months. 7.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Yelp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in Yelp in the 2nd quarter valued at about $25,000. GAMMA Investing LLC lifted its stake in shares of Yelp by 115.9% in the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after acquiring an additional 524 shares in 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 valued at $40,000 after purchasing an additional 405 shares during the last quarter. Signaturefd LLC grew its stake 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 in the last quarter. Finally, Quarry LP increased its holdings in Yelp by 153.4% during the 2nd quarter. Quarry LP now owns 1,323 shares of the local business review company’s stock worth $49,000 after purchasing an additional 801 shares during the last quarter. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Yelp Stock Up 1.2 %

NYSE YELP opened at $39.54 on Friday. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34. Yelp has a fifty-two week low of $32.56 and a fifty-two week high of $46.77. The business has a fifty day moving average of $37.59 and a 200-day moving average of $35.85.

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.