Yelp (NYSE:YELP) had its target price lowered by research analysts at Bank of America from $55.00 to $52.00 in a research report issued on Thursday. The brokerage currently has a “buy” rating on the local business review company’s stock. Bank of America’s target price would indicate a potential upside of 35.81% from the stock’s current price.
A number of other research analysts have also weighed in on YELP. B. Riley restated a “hold” rating and issued a $36.00 price objective on shares of Yelp in a report on Wednesday, October 11th. Goldman Sachs Group restated a “neutral” rating and issued a $42.00 price objective on shares of Yelp in a report on Wednesday, October 11th. BidaskClub lowered Yelp from a “buy” rating to a “hold” rating in a report on Friday, October 13th. KeyCorp restated a “buy” rating and issued a $54.00 price objective on shares of Yelp in a report on Tuesday, October 17th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $48.00 price objective (up previously from $40.00) on shares of Yelp in a report on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $43.55.
Yelp (NYSE YELP) opened at $38.29 on Thursday. The firm has a market capitalization of $3,150.00, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 4.20 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.
Institutional investors and hedge funds have recently modified their holdings of the stock. Ingalls & Snyder LLC raised its holdings in Yelp by 17.0% in the 3rd quarter. Ingalls & Snyder LLC now owns 97,521 shares of the local business review company’s stock valued at $4,223,000 after buying an additional 14,171 shares during the period. AHL Partners LLP acquired a new position in Yelp in the 2nd quarter valued at about $2,292,000. Crestline Management LP acquired a new position in Yelp in the 3rd quarter valued at about $1,209,000. Fox Run Management L.L.C. acquired a new position in Yelp in the 3rd quarter valued at about $455,000. Finally, Convergence Investment Partners LLC acquired a new position in Yelp in the 4th quarter valued at about $1,624,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.
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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