Yelp (NYSE:YELP) Upgraded to Hold at Evercore ISI

Yelp (NYSE:YELP - Get Free Report) was upgraded by equities researchers at Evercore ISI to a "hold" rating in a research note issued on Monday,Zacks.com reports.

YELP has been the topic of a number of other research reports. Morgan Stanley raised their price target on Yelp from $32.00 to $34.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 23rd. StockNews.com raised Yelp from a "buy" rating to a "strong-buy" rating in a research note on Monday. JPMorgan Chase & Co. dropped their target price on shares of Yelp from $38.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, August 12th. Robert W. Baird reduced their price target on shares of Yelp from $39.00 to $37.00 and set a "neutral" rating on the stock in a research note on Friday, November 8th. Finally, The Goldman Sachs Group downgraded Yelp from a "buy" rating to a "neutral" rating and cut their price objective for the company from $46.00 to $38.00 in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Yelp currently has an average rating of "Hold" and a consensus target price of $37.00.

Yelp Stock Performance

YELP traded down $1.32 on Monday, reaching $36.89. The company had a trading volume of 857,609 shares, compared to its average volume of 729,373. The stock has a market cap of $2.47 billion, a P/E ratio of 22.61, a P/E/G ratio of 0.71 and a beta of 1.33. Yelp has a fifty-two week low of $32.56 and a fifty-two week high of $48.99. The company's fifty day moving average is $34.44 and its 200 day moving average is $35.67.

Insider Activity

In other Yelp news, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $34.02, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction on Friday, October 4th. The stock was sold at an average price of $34.02, for a total transaction of $238,140.00. Following the sale, the chief operating officer now directly owns 255,558 shares in the company, valued at approximately $8,694,083.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,630 shares of company stock worth $1,105,937. Company insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On Yelp

Several large investors have recently modified their holdings of YELP. Fifth Third Bancorp grew 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 worth $25,000 after purchasing an additional 481 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Yelp during the 2nd quarter worth $25,000. GAMMA Investing LLC grew its position in 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 lifted its stake in 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 purchasing an additional 405 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Yelp by 98.5% in the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the local business review company's stock worth $41,000 after purchasing an additional 583 shares in the last quarter. Hedge funds and other institutional investors own 90.11% of the company's stock.

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.