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

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. “

A number of other analysts have also recently commented on YELP. Vetr upgraded Yelp from a “hold” rating to a “buy” rating and set a $32.90 price objective for the company in a research report on Wednesday, August 3rd. MKM Partners restated a “buy” rating and issued a $40.00 price objective on shares of Yelp in a research report on Wednesday, August 3rd. Cantor Fitzgerald boosted their price objective on Yelp from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Morgan Stanley boosted their price objective on Yelp from $19.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 9th. Finally, Piper Jaffray Cos. restated a “hold” rating and issued a $35.00 price objective on shares of Yelp in a research report on Tuesday, August 9th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.00.

Analyst Recommendations for Yelp (NYSE:YELP)

Yelp (NYSE:YELP) traded down 2.35% on Wednesday, hitting $37.41. The stock had a trading volume of 253,511 shares. The company’s market cap is $2.94 billion. Yelp has a 12 month low of $14.53 and a 12 month high of $43.36. The company has a 50-day moving average of $36.31 and a 200 day moving average of $33.58.

Yelp (NYSE:YELP) last posted its quarterly earnings data on Wednesday, November 2nd. The local business review company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.25. The business earned $186.20 million during the quarter, compared to analysts’ expectations of $183 million. Yelp had a negative return on equity of 4.58% and a negative net margin of 5.23%. The business’s revenue was up 29.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. On average, analysts predict that Yelp will post ($0.14) EPS for the current fiscal year.

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In other Yelp news, Director Geoffrey L. Donaker sold 4,000 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $37.58, for a total transaction of $150,320.00. Following the completion of the sale, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $150,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael Stoppelman sold 8,736 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $38.19, for a total value of $333,627.84. Following the sale, the senior vice president now directly owns 132,903 shares of the company’s stock, valued at $5,075,565.57. The disclosure for this sale can be found here. Corporate insiders own 11.08% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. FNY Managed Accounts LLC bought a new stake in Yelp during the third quarter worth $100,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Yelp by 11.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,575 shares of the local business review company’s stock worth $107,000 after buying an additional 270 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in Yelp during the second quarter worth $112,000. US Bancorp DE boosted its stake in Yelp by 3,181.0% in the third quarter. US Bancorp DE now owns 3,970 shares of the local business review company’s stock worth $165,000 after buying an additional 3,849 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Yelp by 62.0% in the second quarter. Legal & General Group Plc now owns 5,742 shares of the local business review company’s stock worth $174,000 after buying an additional 2,197 shares during the last quarter. 73.10% of the stock is owned by institutional investors.

About Yelp

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 provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.

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