Yelp (NYSE:YELP) Stock Rating Upgraded by Evercore ISI

Yelp (NYSE:YELP) was upgraded by analysts at Evercore ISI to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on YELP. The Goldman Sachs Group cut shares of Yelp from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $46.00 to $38.00 in a research note on Monday, October 14th. StockNews.com raised Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday. JPMorgan Chase & Co. lowered their target price on Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Wolfe Research initiated coverage on shares of Yelp in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley raised their price target on shares of Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Yelp presently has an average rating of “Hold” and a consensus price target of $37.00.

Yelp Stock Performance

YELP opened at $38.21 on Monday. The stock has a 50-day moving average of $34.44 and a 200-day moving average of $35.67. Yelp has a 52-week low of $32.56 and a 52-week high of $48.99. The company has a market cap of $2.56 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 0.70 and a beta of 1.33.

Insider Buying and Selling at Yelp

In other news, COO Joseph R. Nachman sold 7,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $34.02, for a total value of $238,140.00. Following the sale, the chief operating officer now owns 255,558 shares of the company’s stock, valued at approximately $8,694,083.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Sam Eaton sold 10,776 shares of the business’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 sale, the chief technology officer now directly owns 145,171 shares of the company’s stock, valued at $5,080,985. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were 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 directly owns 255,558 shares in the company, valued at approximately $8,694,083.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of YELP. SG Americas Securities LLC increased its position in shares of Yelp by 207.2% in the first quarter. SG Americas Securities LLC now owns 12,804 shares of the local business review company’s stock valued at $504,000 after acquiring an additional 8,636 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Yelp during the first quarter worth approximately $70,000. ProShare Advisors LLC increased its stake in Yelp by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 13,467 shares of the local business review company’s stock worth $531,000 after acquiring an additional 921 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Yelp by 13.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 39,065 shares of the local business review company’s stock valued at $1,539,000 after acquiring an additional 4,528 shares in the last quarter. Finally, Councilmark Asset Management LLC acquired a new stake in shares of Yelp during the 1st quarter worth $363,000. Institutional investors own 90.11% of the company’s stock.

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.