Yelp (NYSE:YELP) Stock Rating Lowered by StockNews.com

Yelp (NYSE:YELP) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Monday.

A number of other equities analysts also recently weighed in on YELP. Robert W. Baird lowered their price target on Yelp from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Morgan Stanley increased their price objective on Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Wolfe Research assumed coverage on shares of Yelp in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Craig Hallum dropped their price target on shares of Yelp from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Yelp Stock Down 0.8 %

Yelp stock traded down $0.27 during mid-day trading on Monday, reaching $33.20. The company had a trading volume of 856,324 shares, compared to its average volume of 744,204. Yelp has a 52 week low of $32.56 and a 52 week high of $48.99. The company has a 50 day moving average of $36.05 and a 200-day moving average of $38.32. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 21.15 and a beta of 1.33.

Yelp (NYSE:YELP) last announced its earnings results on Thursday, August 8th. The local business review company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Yelp had a net margin of 10.01% and a return on equity of 18.71%. The business had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $352.98 million. During the same quarter last year, the company posted $0.21 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts predict that Yelp will post 1.53 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Joseph R. Nachman sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $33.25, for a total transaction of $232,750.00. Following the sale, the chief operating officer now owns 281,842 shares of the company’s stock, valued at approximately $9,371,246.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Joseph R. Nachman sold 4,941 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $36.53, for a total transaction of $180,494.73. Following the sale, the chief operating officer now directly owns 295,842 shares of the company’s stock, valued at approximately $10,807,108.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Joseph R. Nachman sold 7,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $33.25, for a total value of $232,750.00. Following the completion of the transaction, the chief operating officer now directly owns 281,842 shares of the company’s stock, valued at $9,371,246.50. The disclosure for this sale can be found here. In the last three months, insiders sold 61,068 shares of company stock valued at $2,230,340. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Yelp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gladius Capital Management LP grew its holdings in shares of Yelp by 10.8% during the fourth quarter. Gladius Capital Management LP now owns 2,835 shares of the local business review company’s stock worth $134,000 after purchasing an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Yelp by 0.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,231 shares of the local business review company’s stock worth $3,398,000 after purchasing an additional 288 shares during the last quarter. Meritage Portfolio Management lifted its holdings in Yelp by 2.2% during the 4th quarter. Meritage Portfolio Management now owns 14,121 shares of the local business review company’s stock worth $668,000 after buying an additional 308 shares in the last quarter. CWM LLC boosted its position in Yelp by 24.7% in the 2nd quarter. CWM LLC now owns 1,903 shares of the local business review company’s stock valued at $70,000 after buying an additional 377 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Yelp by 38.7% in the 4th quarter. Parallel Advisors LLC now owns 1,497 shares of the local business review company’s stock valued at $71,000 after buying an additional 418 shares during the period. Institutional investors and hedge funds 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.