Zacks Investment Research Downgrades Yelp (YELP) to Sell

Yelp (NYSE:YELP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.

According to Zacks, “Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California. “

Several other research firms also recently issued reports on YELP. Piper Jaffray Companies reaffirmed an “underweight” rating and set a $37.00 price objective (down from $38.00) on shares of Yelp in a report on Thursday, December 7th. Bank of America increased their price objective on shares of Yelp from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Evercore ISI started coverage on shares of Yelp in a report on Tuesday, December 5th. They set an “in-line” rating and a $46.00 price objective on the stock. Robert W. Baird increased their price objective on shares of Yelp from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Yelp from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, December 18th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.55.

Yelp (NYSE YELP) traded down $0.34 on Friday, reaching $38.29. 3,508,482 shares of the company’s stock traded hands, compared to its average volume of 1,620,000. The stock has a market capitalization of $3,150.00, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 3.54 and a beta of 1.14. Yelp has a fifty-two week low of $26.93 and a fifty-two week high of $48.40.

In other Yelp news, CEO Jeremy Stoppelman sold 13,000 shares of Yelp stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $47.59, for a total transaction of $618,670.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Geoffrey L. Donaker sold 6,000 shares of Yelp stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $41.09, for a total transaction of $246,540.00. Following the transaction, the director now directly owns 9,590 shares in the company, valued at $394,053.10. The disclosure for this sale can be found here. Insiders have sold 257,085 shares of company stock worth $11,338,738 over the last ninety days. 10.10% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. raised its stake 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 purchasing an additional 4,002 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 purchasing an additional 1,337 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in Yelp during the third quarter worth about $204,000. Ameritas Investment Partners Inc. purchased a new position in Yelp during the second quarter worth about $205,000. Finally, ProShare Advisors LLC purchased a new position in Yelp during the second quarter worth about $215,000. 86.09% of the stock is currently owned by institutional investors.

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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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