Analysts Set Yelp Inc (YELP) Price Target at $49.05
Shares of Yelp Inc (NYSE:YELP) have been given a consensus recommendation of “Hold” by the twenty-five research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $49.29.
Several analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Yelp to $62.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Aegis cut shares of Yelp to a “sell” rating in a research report on Wednesday, June 20th. KeyCorp restated a “hold” rating on shares of Yelp in a research report on Thursday, August 9th. Barclays raised their price objective on shares of Yelp from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, August 9th. Finally, Zacks Investment Research cut shares of Yelp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th.
Shares of Yelp stock traded down $2.15 on Friday, hitting $49.92. 3,465,034 shares of the company traded hands, compared to its average volume of 1,576,433. The stock has a market cap of $4.18 billion, a P/E ratio of 713.14, a price-to-earnings-growth ratio of 8.37 and a beta of 1.32. Yelp has a 12-month low of $36.42 and a 12-month high of $52.50.
In other Yelp news, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $40.00, for a total value of $520,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joseph R. Nachman sold 16,303 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $50.00, for a total transaction of $815,150.00. Following the completion of the sale, the chief operating officer now directly owns 131,734 shares in the company, valued at approximately $6,586,700. The disclosure for this sale can be found here. In the last quarter, insiders sold 182,303 shares of company stock worth $7,946,220. 9.00% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Sciencast Management LP bought a new stake in Yelp in the 1st quarter worth $230,000. Janus Henderson Group PLC bought a new stake in Yelp in the 2nd quarter worth $206,000. Gideon Capital Advisors Inc. bought a new stake in Yelp in the 2nd quarter worth $245,000. AMP Capital Investors Ltd bought a new stake in Yelp in the 2nd quarter worth $305,000. Finally, S. R. Schill & Associates bought a new stake in Yelp in the 1st quarter worth $333,000. 92.07% of the stock is currently owned by institutional investors and hedge funds.
Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.
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