Yelp (YELP) PT Lowered to $38.00
Yelp (NYSE:YELP) had its price target trimmed by Stifel Nicolaus from $40.00 to $38.00 in a research note published on Thursday morning, MarketBeat.com reports. The brokerage currently has a hold rating on the local business review company’s stock.
YELP has been the topic of a number of other reports. Zacks Investment Research raised shares of Yelp from a hold rating to a buy rating and set a $52.00 price objective on the stock in a research note on Tuesday, November 21st. Bank of America upped their price objective on shares of Yelp from $52.00 to $55.00 and gave the company a buy rating in a research note on Wednesday, January 24th. Royal Bank of Canada raised shares of Yelp from a sector perform rating to an outperform rating and upped their price objective for the company from $36.00 to $55.00 in a research note on Thursday, November 2nd. BidaskClub lowered shares of Yelp from a buy rating to a hold rating in a research note on Friday, October 13th. Finally, Goldman Sachs Group reaffirmed a neutral rating and issued a $42.00 price objective on shares of Yelp in a research note on Wednesday, October 11th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eighteen have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $43.46.
Shares of Yelp (NYSE YELP) opened at $38.29 on Thursday. Yelp has a 12 month low of $26.93 and a 12 month high of $48.40. The company has a market cap of $3,173.82, a price-to-earnings ratio of 22.26, a PEG ratio of 3.51 and a beta of 1.14.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. raised its holdings in Yelp by 28,585.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 4,016 shares of the local business review company’s stock worth $174,000 after buying an additional 4,002 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Yelp by 46.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,240 shares of the local business review company’s stock worth $178,000 after buying an additional 1,337 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in Yelp during the third quarter worth $204,000. Ameritas Investment Partners Inc. acquired a new position in Yelp during the second quarter worth $205,000. Finally, ProShare Advisors LLC acquired a new position in Yelp during the second quarter worth $215,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.
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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 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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