Yelp (NYSE:YELP) had its price objective cut by investment analysts at Robert W. Baird from $45.00 to $33.00 in a report issued on Friday, The Fly reports. The firm currently has a “neutral” rating on the local business review company’s stock. Robert W. Baird’s target price indicates a potential upside of 3.35% from the company’s current price.

Several other research analysts have also recently issued reports on YELP. Wedbush cut Yelp from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $60.00 to $32.00 in a research note on Friday. Deutsche Bank cut Yelp from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $64.00 to $34.00 in a research note on Friday. Raymond James cut Yelp from an “outperform” rating to a “market perform” rating in a research note on Friday. Royal Bank of Canada reduced their price objective on Yelp to $38.00 and set a “positive” rating for the company in a research note on Friday. Finally, Aegis reduced their price objective on Yelp from $36.00 to $29.00 and set a “sell” rating for the company in a research note on Friday. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $42.45.

Yelp stock opened at $31.93 on Friday. Yelp has a one year low of $29.33 and a one year high of $52.50. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 498.22, a price-to-earnings-growth ratio of 7.52 and a beta of 1.29.

Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, November 8th. The local business review company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. Yelp had a return on equity of 0.74% and a net margin of 17.64%. The company had revenue of $241.10 million during the quarter, compared to analysts’ expectations of $245.55 million. During the same period last year, the business posted $0.29 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts predict that Yelp will post 0.3 EPS for the current year.

In related news, Director Geoffrey L. Donaker sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $40.69, for a total transaction of $162,760.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $43.98, for a total value of $571,740.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 223,500 shares of company stock worth $10,135,885. 9.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Yelp by 8.5% in the third quarter. BlackRock Inc. now owns 7,760,435 shares of the local business review company’s stock valued at $381,814,000 after purchasing an additional 606,426 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Yelp by 1.1% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,120,140 shares of the local business review company’s stock valued at $104,310,000 after purchasing an additional 23,415 shares during the period. First Manhattan Co. grew its holdings in Yelp by 8.8% in the second quarter. First Manhattan Co. now owns 1,554,043 shares of the local business review company’s stock valued at $60,887,000 after purchasing an additional 126,090 shares during the period. Victory Capital Management Inc. grew its holdings in Yelp by 0.3% in the third quarter. Victory Capital Management Inc. now owns 1,131,550 shares of the local business review company’s stock valued at $55,672,000 after purchasing an additional 3,785 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in Yelp by 126.7% in the second quarter. Macquarie Group Ltd. now owns 1,105,663 shares of the local business review company’s stock valued at $43,320,000 after purchasing an additional 617,864 shares during the period. 86.05% of the stock is currently owned by institutional investors.

About Yelp

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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Analyst Recommendations for Yelp (NYSE:YELP)

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