Vetr downgraded shares of Yelp Inc. (NYSE:YELP) from a strong-buy rating to a buy rating in a research note released on Monday. The brokerage currently has $42.56 price target on the local business review company’s stock.

Analyst Recommendations for Yelp (NYSE:YELP)

YELP has been the topic of a number of other research reports. Zacks Investment Research upgraded Yelp from a hold rating to a buy rating and set a $33.00 target price on the stock in a research report on Tuesday, July 12th. Mizuho raised Yelp from a neutral rating to a buy rating and lifted their price target for the company from $24.00 to $40.00 in a research note on Wednesday, August 10th. RBC Capital Markets reissued an outperform rating and set a $48.00 price target (up from $36.00) on shares of Yelp in a research note on Thursday, August 11th. Royal Bank Of Canada lifted their price target on Yelp from $36.00 to $48.00 and gave the company an outperform rating in a research note on Wednesday, August 10th. Finally, Citigroup Inc. lowered Yelp from a buy rating to a neutral rating and lifted their price target for the company from $27.00 to $31.00 in a research note on Wednesday, July 20th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $34.98.

Shares of Yelp (NYSE:YELP) opened at 38.52 on Monday. The stock has a 50 day moving average price of $37.05 and a 200-day moving average price of $27.94. The company’s market capitalization is $2.98 billion. Yelp has a 52 week low of $14.53 and a 52 week high of $39.96.

Yelp (NYSE:YELP) last released its earnings results on Tuesday, August 9th. The local business review company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.08. Yelp had a negative return on equity of 6.14% and a negative net margin of 7.20%. The firm had revenue of $173.40 million for the quarter, compared to analysts’ expectations of $169.82 million. During the same quarter in the previous year, the business posted $0.12 earnings per share. The business’s revenue for the quarter was up 29.5% on a year-over-year basis. Equities research analysts expect that Yelp will post ($0.19) EPS for the current year.

In related news, SVP Michael Stoppelman sold 2,781 shares of Yelp stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $37.45, for a total value of $104,148.45. Following the completion of the sale, the senior vice president now owns 131,948 shares of the company’s stock, valued at $4,941,452.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Joseph R. Nachman sold 2,508 shares of Yelp stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $37.45, for a total value of $93,924.60. The disclosure for this sale can be found here. 11.08% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Emerald Acquisition Ltd. purchased a new stake in shares of Yelp during the second quarter valued at approximately $112,000. Legal & General Group Plc raised its stake in shares of Yelp by 62.0% in the second quarter. Legal & General Group Plc now owns 5,742 shares of the local business review company’s stock valued at $174,000 after buying an additional 2,197 shares during the last quarter. IBM Retirement Fund purchased a new stake in shares of Yelp during the second quarter valued at approximately $209,000. Private Advisor Group LLC purchased a new stake in shares of Yelp during the second quarter valued at approximately $231,000. Finally, Concourse Capital Management LLC purchased a new stake in shares of Yelp during the second quarter valued at approximately $278,000. 74.90% of the stock is owned by institutional investors.

Yelp Company Profile

Yelp Inc (Yelp) connects people with local businesses by bringing word of mouth online and providing a platform for businesses and consumers to engage and transact. The Company provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.

5 Day Chart for NYSE:YELP

To view Vetr’s full report, visit Vetr’s official website.

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