Yelp (YELP) PT Set at $34.00 by Wells Fargo & Co

Yelp (NYSE:YELP) received a $34.00 target price from Wells Fargo & Co in a note issued to investors on Friday. The firm currently has a “buy” rating on the local business review company’s stock. Wells Fargo & Co’s price objective points to a potential upside of 6.48% from the stock’s previous close.

YELP has been the subject of a number of other research reports. Stifel Nicolaus lifted their target price on Yelp from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Thursday, August 9th. Zacks Investment Research lowered Yelp from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Cowen set a $39.00 target price on Yelp and gave the stock a “hold” rating in a report on Friday. KeyCorp reissued a “hold” rating on shares of Yelp in a report on Thursday, August 9th. Finally, Deutsche Bank lowered Yelp from a “buy” rating to a “hold” rating and reduced their target price for the stock from $64.00 to $34.00 in a report on Friday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $42.45.

Shares of NYSE:YELP opened at $31.93 on Friday. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 498.22, a P/E/G ratio of 7.52 and a beta of 1.29. Yelp has a 12-month low of $29.33 and a 12-month high of $52.50.

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

In related news, CEO Jeremy Stoppelman sold 13,000 shares of Yelp stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $47.00, for a total value of $611,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey L. Donaker sold 2,000 shares of Yelp stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $46.96, for a total value of $93,920.00. Following the completion of the sale, the director now directly owns 8,055 shares of the company’s stock, valued at approximately $378,262.80. The disclosure for this sale can be found here. Insiders sold 223,500 shares of company stock valued at $10,135,885 in the last ninety days. 9.00% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of YELP. Steward Partners Investment Advisory LLC bought a new stake in shares of Yelp in the third quarter worth $194,000. Janus Henderson Group PLC bought a new stake in shares of Yelp in the second quarter worth $206,000. Hartford Investment Management Co. bought a new stake in shares of Yelp in the third quarter worth $232,000. Gideon Capital Advisors Inc. bought a new stake in Yelp during the second quarter valued at about $245,000. Finally, Brasada Capital Management LP grew its holdings in Yelp by 833.3% during the third quarter. Brasada Capital Management LP now owns 5,600 shares of the local business review company’s stock valued at $276,000 after purchasing an additional 5,000 shares during the period. 86.05% of the stock is owned by institutional investors.

Yelp Company Profile

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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