Yelp (NYSE:YELP) Given New $37.00 Price Target at Robert W. Baird

Yelp (NYSE:YELP - Get Free Report) had its price target cut by research analysts at Robert W. Baird from $39.00 to $37.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the local business review company's stock. Robert W. Baird's target price indicates a potential upside of 3.06% from the company's previous close.

Several other research firms also recently commented on YELP. Bank of America started coverage on shares of Yelp in a report on Monday, September 16th. They issued an "underperform" rating and a $30.00 price objective on the stock. Morgan Stanley lifted their price target on Yelp from $32.00 to $34.00 and gave the company an "underweight" rating in a research report on Tuesday, July 23rd. Wolfe Research assumed coverage on shares of Yelp in a report on Tuesday, July 16th. They set a "peer perform" rating on the stock. The Goldman Sachs Group downgraded shares of Yelp from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $46.00 to $38.00 in a research report on Monday, October 14th. Finally, StockNews.com cut Yelp from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $37.00.

Yelp Stock Performance

YELP traded down $0.47 during trading on Friday, hitting $35.90. The stock had a trading volume of 1,461,055 shares, compared to its average volume of 724,471. Yelp has a twelve month low of $32.56 and a twelve month high of $48.99. The stock has a 50 day simple moving average of $34.28 and a two-hundred day simple moving average of $35.79. The company has a market capitalization of $2.40 billion, a PE ratio of 19.14, a PEG ratio of 0.84 and a beta of 1.33.

Yelp (NYSE:YELP - Get Free Report) last released its earnings results on Thursday, August 8th. The local business review company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.27. The company had revenue of $357.00 million during the quarter, compared to analysts' expectations of $352.98 million. Yelp had a net margin of 10.01% and a return on equity of 18.71%. Yelp's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. On average, equities research analysts anticipate that Yelp will post 1.69 EPS for the current year.

Insider Buying and Selling

In related news, CTO Sam Eaton sold 10,776 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was 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 of the company's stock, valued at $5,080,985. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CTO Sam Eaton sold 10,776 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now directly owns 145,171 shares of the company's stock, valued at $5,080,985. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the chief operating officer now directly owns 255,558 shares in the company, valued at approximately $8,694,083.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Yelp

Several institutional investors and hedge funds have recently made changes to their positions in YELP. Quest Partners LLC increased its position in shares of Yelp by 132.7% in the 2nd quarter. Quest Partners LLC now owns 27,094 shares of the local business review company's stock worth $1,001,000 after purchasing an additional 15,451 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in Yelp in the first quarter worth $594,000. CANADA LIFE ASSURANCE Co increased its stake in Yelp by 7.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 61,150 shares of the local business review company's stock valued at $2,409,000 after purchasing an additional 4,306 shares during the last quarter. Ceera Investments LLC lifted its position in shares of Yelp by 13.6% in the 2nd quarter. Ceera Investments LLC now owns 173,597 shares of the local business review company's stock worth $6,414,000 after buying an additional 20,780 shares during the last quarter. Finally, Algert Global LLC grew its position in shares of Yelp by 11.0% during the 2nd quarter. Algert Global LLC now owns 189,864 shares of the local business review company's stock valued at $7,015,000 after buying an additional 18,786 shares during the last quarter. 90.11% of the stock is currently 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.