Wells Fargo & Company Cuts Yelp (NYSE:YELP) Price Target to $31.00

Yelp (NYSE:YELPGet Rating) had its target price dropped by analysts at Wells Fargo & Company from $38.00 to $31.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the local business review company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 4.34% from the company’s previous close.

Several other brokerages have also commented on YELP. Jefferies Financial Group cut their price objective on Yelp from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, October 6th. TheStreet lowered Yelp from a “b-” rating to a “c” rating in a report on Thursday, December 8th. Morgan Stanley dropped their target price on Yelp from $34.00 to $26.00 and set an “underweight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. downgraded Yelp from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $34.00 to $23.00 in a research report on Tuesday, December 20th. Finally, StockNews.com initiated coverage on Yelp in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.38.

Yelp Trading Up 1.6 %

Shares of NYSE YELP opened at $29.71 on Thursday. Yelp has a 12 month low of $25.30 and a 12 month high of $39.26. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 56.06 and a beta of 1.40. The business has a 50-day moving average of $28.48 and a 200-day moving average of $31.99.

Yelp (NYSE:YELPGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The local business review company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Yelp had a return on equity of 5.44% and a net margin of 3.40%. The company had revenue of $308.89 million during the quarter, compared to analyst estimates of $306.12 million. On average, analysts predict that Yelp will post 0.69 earnings per share for the current year.

Insider Buying and Selling at Yelp

In other Yelp news, CFO David A. Schwarzbach sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $31.10, for a total value of $62,200.00. Following the completion of the sale, the chief financial officer now owns 185,172 shares in the company, valued at $5,758,849.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Yelp news, CEO Jeremy Stoppelman sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $28.65, for a total value of $1,432,500.00. Following the completion of the sale, the chief executive officer now owns 501,736 shares in the company, valued at $14,374,736.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David A. Schwarzbach sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $31.10, for a total value of $62,200.00. Following the transaction, the chief financial officer now owns 185,172 shares of the company’s stock, valued at approximately $5,758,849.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 273,547 shares of company stock worth $7,860,270. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Yelp

A number of hedge funds and other institutional investors have recently made changes to their positions in YELP. PNC Financial Services Group Inc. raised its holdings in shares of Yelp by 33.5% during the first quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the local business review company’s stock valued at $169,000 after acquiring an additional 1,241 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Yelp by 41.2% during the first quarter. MetLife Investment Management LLC now owns 81,542 shares of the local business review company’s stock valued at $2,781,000 after acquiring an additional 23,806 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Yelp by 4.2% during the first quarter. Rhumbline Advisers now owns 196,631 shares of the local business review company’s stock valued at $6,707,000 after acquiring an additional 8,007 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Yelp by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,154 shares of the local business review company’s stock valued at $858,000 after acquiring an additional 2,398 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Yelp by 9.2% during the first quarter. Great West Life Assurance Co. Can now owns 39,573 shares of the local business review company’s stock valued at $1,389,000 after acquiring an additional 3,344 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Yelp Company Profile

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Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various local business 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.

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