Yelp (NYSE:YELP) Price Target Lowered to $39.00 at Robert W. Baird

Yelp (NYSE:YELPFree Report) had its target price decreased by Robert W. Baird from $44.00 to $39.00 in a report issued on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the local business review company’s stock.

YELP has been the subject of several other reports. StockNews.com upgraded Yelp from a buy rating to a strong-buy rating in a research report on Saturday, February 24th. Raymond James started coverage on Yelp in a report on Wednesday, March 27th. They set a market perform rating for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $40.67.

View Our Latest Stock Analysis on YELP

Yelp Stock Performance

NYSE YELP traded down $2.83 during trading hours on Friday, hitting $36.79. The company had a trading volume of 1,997,703 shares, compared to its average volume of 653,062. The firm has a 50 day simple moving average of $39.37 and a 200 day simple moving average of $42.30. Yelp has a 52 week low of $28.24 and a 52 week high of $48.99. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 23.43 and a beta of 1.44.

Yelp (NYSE:YELPGet Free Report) last posted its earnings results on Thursday, May 9th. The local business review company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.16. The business had revenue of $332.75 million for the quarter, compared to analysts’ expectations of $333.66 million. Yelp had a net margin of 8.44% and a return on equity of 15.63%. On average, research analysts forecast that Yelp will post 1.53 earnings per share for the current year.

Insider Activity

In other Yelp news, CFO David A. Schwarzbach sold 2,750 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $40.63, for a total value of $111,732.50. Following the completion of the sale, the chief financial officer now directly owns 258,848 shares of the company’s stock, valued at $10,516,994.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO David A. Schwarzbach sold 2,750 shares of Yelp stock in a transaction on Monday, April 15th. The shares were sold at an average price of $40.63, for a total value of $111,732.50. Following the transaction, the chief financial officer now directly owns 258,848 shares of the company’s stock, valued at $10,516,994.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Joseph R. Nachman sold 6,000 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $38.83, for a total transaction of $232,980.00. Following the sale, the chief operating officer now directly owns 312,502 shares of the company’s stock, valued at approximately $12,134,452.66. The disclosure for this sale can be found here. 7.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Yelp

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its position in shares of Yelp by 18.2% in the 3rd quarter. Acadian Asset Management LLC now owns 2,496,166 shares of the local business review company’s stock worth $103,789,000 after purchasing an additional 384,566 shares during the period. Dimensional Fund Advisors LP boosted its position in Yelp by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,994,129 shares of the local business review company’s stock valued at $94,402,000 after acquiring an additional 13,790 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Yelp by 65.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,215,355 shares of the local business review company’s stock worth $57,535,000 after acquiring an additional 482,242 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Yelp by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,944 shares of the local business review company’s stock worth $48,284,000 after acquiring an additional 12,511 shares in the last quarter. Finally, Goodnow Investment Group LLC raised its position in shares of Yelp by 1.3% in the 4th quarter. Goodnow Investment Group LLC now owns 641,660 shares of the local business review company’s stock worth $30,376,000 after acquiring an additional 7,940 shares in the last quarter. Hedge funds and other institutional investors own 90.11% of the company’s stock.

About Yelp

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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.

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