Yelp (NYSE:YELP) Price Target Cut to $38.00

Yelp (NYSE:YELP) had its price target lowered by Stifel Nicolaus from $40.00 to $38.00 in a research report sent to investors on Thursday, February 8th, Marketbeat.com reports. The firm currently has a hold rating on the local business review company’s stock.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Yelp from a buy rating to a hold rating in a research report on Thursday, November 16th. SunTrust Banks set a $51.00 price target on Yelp and gave the company a buy rating in a report on Friday, October 27th. Goldman Sachs Group reaffirmed a neutral rating and set a $42.00 target price on shares of Yelp in a report on Wednesday, October 11th. KeyCorp reaffirmed a buy rating and set a $54.00 target price on shares of Yelp in a report on Tuesday, October 17th. Finally, BidaskClub lowered Yelp from a buy rating to a hold rating in a research report on Friday, October 13th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $43.46.

Yelp (YELP) traded up $0.18 during trading on Thursday, hitting $41.55. The stock had a trading volume of 539,005 shares, compared to its average volume of 1,748,446. Yelp has a 12 month low of $26.93 and a 12 month high of $48.40. The stock has a market cap of $3,205.32, a PE ratio of 23.68, a P/E/G ratio of 5.71 and a beta of 1.14.

In other Yelp news, CFO Charles Baker sold 4,233 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $46.92, for a total value of $198,612.36. Following the sale, the chief financial officer now owns 108,708 shares in the company, valued at $5,100,579.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $41.09, for a total value of $246,540.00. Following the completion of the sale, the director now owns 9,590 shares in the company, valued at approximately $394,053.10. The disclosure for this sale can be found here. Insiders have sold 238,085 shares of company stock valued at $10,475,598 over the last three months. Insiders own 10.10% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Yelp by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,935,362 shares of the local business review company’s stock valued at $178,180,000 after purchasing an additional 231,754 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Yelp by 10.4% during the 4th quarter. BlackRock Inc. now owns 5,533,628 shares of the local business review company’s stock valued at $232,190,000 after acquiring an additional 521,218 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Yelp by 9.5% during the 4th quarter. Allianz Asset Management GmbH now owns 3,201,061 shares of the local business review company’s stock valued at $134,317,000 after acquiring an additional 277,146 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Yelp by 17.7% during the 3rd quarter. Fisher Asset Management LLC now owns 2,893,867 shares of the local business review company’s stock valued at $125,304,000 after acquiring an additional 434,574 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its holdings in shares of Yelp by 6.5% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,544,615 shares of the local business review company’s stock valued at $106,772,000 after acquiring an additional 154,785 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

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About Yelp

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 offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.

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