Zacks Investment Research upgraded shares of Yelp (NYSE:YELP) from a sell rating to a hold rating in a research note issued to investors on Friday morning.
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 analysts have also recently issued reports on the stock. KeyCorp set a $54.00 target price on shares of Yelp and gave the stock a buy rating in a research note on Thursday, February 8th. Bank of America lowered their target price on shares of Yelp from $55.00 to $52.00 and set a buy rating on the stock in a research note on Thursday, February 8th. Morgan Stanley lowered their target price on shares of Yelp from $43.00 to $40.00 and set an equal weight rating on the stock in a research note on Thursday, February 8th. Credit Suisse Group lowered their target price on shares of Yelp from $51.00 to $50.00 and set a buy rating on the stock in a research note on Thursday, February 8th. Finally, Barclays increased their target price on shares of Yelp from $43.00 to $44.00 and gave the stock an equal weight rating in a research note on Thursday, February 8th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eighteen have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $43.66.
In other Yelp news, Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $45.39, for a total value of $272,340.00. Following the sale, the director now owns 9,590 shares of the company’s stock, valued at approximately $435,290.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $42.32, for a total transaction of $550,160.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 223,500 shares of company stock worth $9,577,750. 10.10% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in YELP. Slow Capital Inc. bought a new stake in Yelp in the 4th quarter worth $163,000. Oppenheimer Asset Management Inc. grew its holdings in Yelp by 28,585.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,016 shares of the local business review company’s stock worth $174,000 after acquiring an additional 4,002 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Yelp by 46.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,240 shares of the local business review company’s stock worth $178,000 after acquiring an additional 1,337 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in Yelp in the 3rd quarter worth $204,000. Finally, Turner Investments LLC bought a new stake in Yelp in the 3rd quarter worth $217,000. 89.32% of the stock is currently owned by institutional investors and hedge funds.
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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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