Yelp (NYSE:YELP - Get Free Report) had its price objective increased by stock analysts at Morgan Stanley from $34.00 to $35.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "underweight" rating on the local business review company's stock. Morgan Stanley's price objective indicates a potential downside of 9.37% from the company's current price.
Several other brokerages also recently commented on YELP. Evercore ISI raised Yelp to a "hold" rating in a report on Monday, November 11th. Robert W. Baird cut their price target on shares of Yelp from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, November 8th. The Goldman Sachs Group cut shares of Yelp from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $46.00 to $38.00 in a research report on Monday, October 14th. StockNews.com upgraded Yelp from a "buy" rating to a "strong-buy" rating in a report on Monday, November 11th. Finally, Bank of America initiated coverage on Yelp in a report on Monday, September 16th. They set an "underperform" rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Yelp currently has an average rating of "Hold" and a consensus price target of $37.17.
View Our Latest Research Report on YELP
Yelp Price Performance
Shares of YELP traded up $0.19 during midday trading on Monday, reaching $38.62. The stock had a trading volume of 864,106 shares, compared to its average volume of 562,429. The firm's 50 day moving average price is $38.08 and its 200-day moving average price is $35.96. Yelp has a 52 week low of $32.56 and a 52 week high of $45.91. The company has a market capitalization of $2.54 billion, a P/E ratio of 23.13, a P/E/G ratio of 0.71 and a beta of 1.34.
Insider Activity
In other news, insider Carmen Amara sold 12,854 shares of Yelp stock in a transaction dated 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 approximately $3,389,992.21. The trade was a 12.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Saldanha sold 1,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $38.05, for a total value of $38,050.00. Following 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 disclosure for this sale can be found here. Insiders sold a total of 45,865 shares of company stock worth $1,734,268 in the last three months. 7.40% of the stock is owned by insiders.
Institutional Investors Weigh In On Yelp
Several hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new position in Yelp in the second quarter valued at about $25,000. GAMMA Investing LLC grew its position in shares of Yelp by 115.9% during the 3rd quarter. GAMMA Investing LLC now owns 976 shares of the local business review company's stock worth $34,000 after buying an additional 524 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Yelp by 54.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company's stock worth $40,000 after buying an additional 405 shares during the last quarter. Signaturefd LLC raised its position in shares of 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 acquiring an additional 583 shares during the last quarter. Finally, Quarry LP lifted its stake in Yelp by 153.4% in the second quarter. Quarry LP now owns 1,323 shares of the local business review company's stock valued at $49,000 after buying an additional 801 shares during the period. Institutional investors own 90.11% of the company's stock.
About Yelp
(
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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.
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