Yelp (NYSE:YELP) Price Target Raised to $35.00 at Morgan Stanley

Yelp (NYSE:YELP) had its target price upped by Morgan Stanley from $34.00 to $35.00 in a report released on Monday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the local business review company’s stock.

YELP has been the topic of several other reports. The Goldman Sachs Group lowered shares of Yelp from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $46.00 to $38.00 in a research report on Monday, October 14th. Evercore ISI upgraded shares of Yelp to a “hold” rating in a research note on Monday, November 11th. Bank of America started coverage on shares of Yelp in a report on Monday, September 16th. They issued an “underperform” rating and a $30.00 target price on the stock. Robert W. Baird reduced their price target on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, StockNews.com raised shares of Yelp from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $37.17.

Yelp Stock Performance

YELP opened at $38.62 on Monday. The company has a market cap of $2.54 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34. The stock has a 50-day moving average of $38.08 and a 200-day moving average of $35.96. Yelp has a 52-week low of $32.56 and a 52-week high of $45.91.

Insider Buying and Selling at Yelp

In related news, CTO Sam Eaton sold 10,744 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $35.12, for a total value of $377,329.28. Following the sale, the chief technology officer now directly owns 122,480 shares of the company’s stock, valued at $4,301,497.60. This trade represents a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David A. Schwarzbach sold 10,000 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $38.29, for a total value of $382,900.00. Following the completion of the transaction, the chief financial officer now directly owns 211,988 shares in the company, valued at approximately $8,117,020.52. This represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,865 shares of company stock worth $1,734,268. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Yelp

A number of large investors have recently bought and sold shares of YELP. Meeder Asset Management Inc. purchased a new position in Yelp during the second quarter valued at $25,000. GAMMA Investing LLC increased its stake in shares of Yelp by 115.9% in the 3rd quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after acquiring an additional 524 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Yelp by 54.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock valued at $40,000 after acquiring an additional 405 shares during the period. Signaturefd LLC boosted its stake in Yelp by 98.5% during the third quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock worth $41,000 after acquiring an additional 583 shares in the last quarter. Finally, Quarry LP grew its holdings in Yelp by 153.4% in the second quarter. Quarry LP now owns 1,323 shares of the local business review company’s stock worth $49,000 after purchasing an additional 801 shares during the period. 90.11% of the stock is owned by hedge funds and other institutional investors.

Yelp Company Profile

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.