Yelp’s (YELP) “Underweight” Rating Reiterated at Piper Jaffray Companies
Yelp (NYSE:YELP)‘s stock had its “underweight” rating reiterated by research analysts at Piper Jaffray Companies in a note issued to investors on Thursday.
Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of Yelp from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. SunTrust Banks set a $51.00 price objective on shares of Yelp and gave the stock a “buy” rating in a research report on Friday, October 27th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Yelp in a research report on Wednesday, October 11th. Cantor Fitzgerald lowered shares of Yelp from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $46.73 to $44.00 in a research report on Monday, October 9th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Yelp in a research report on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty have assigned a buy rating to the company. Yelp presently has a consensus rating of “Hold” and an average target price of $43.53.
Shares of Yelp (YELP) opened at $41.88 on Thursday. The company has a market cap of $3,555.52, a PE ratio of 194.98, a price-to-earnings-growth ratio of 9.14 and a beta of 1.22. Yelp has a 12-month low of $26.93 and a 12-month high of $48.40.
In related news, insider Laurence Wilson sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $44.08, for a total transaction of $1,102,000.00. Following the sale, the insider now owns 195,610 shares of the company’s stock, valued at approximately $8,622,488.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $47.39, for a total transaction of $284,340.00. Following the sale, the director now directly owns 9,590 shares in the company, valued at approximately $454,470.10. The disclosure for this sale can be found here. Insiders have sold a total of 314,956 shares of company stock worth $14,168,048 in the last ninety days. 10.10% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Yelp by 84.9% in the 2nd quarter. BlackRock Inc. now owns 5,232,684 shares of the local business review company’s stock worth $157,084,000 after buying an additional 2,403,240 shares in the last quarter. Southpoint Capital Advisors LP purchased a new position in Yelp in the 2nd quarter worth approximately $66,044,000. First Trust Advisors LP grew its stake in Yelp by 794.9% in the 2nd quarter. First Trust Advisors LP now owns 1,930,508 shares of the local business review company’s stock worth $57,954,000 after buying an additional 1,714,785 shares in the last quarter. Dorsey Asset Management LLC purchased a new position in Yelp in the 2nd quarter worth approximately $22,095,000. Finally, Prescott General Partners LLC grew its stake in Yelp by 21.3% in the 2nd quarter. Prescott General Partners LLC now owns 3,851,774 shares of the local business review company’s stock worth $115,630,000 after buying an additional 676,251 shares in the last quarter. 85.75% of the stock is currently owned by institutional investors and hedge funds.
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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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