Yelp (NYSE:YELP) Cut to Buy at Wall Street Zen

Yelp (NYSE:YELP - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Saturday.

A number of other research analysts have also recently weighed in on YELP. JPMorgan Chase & Co. reduced their target price on Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley reduced their price objective on Yelp from $35.00 to $30.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Yelp presently has a consensus rating of "Hold" and an average price target of $34.00.

Yelp Stock Performance

NYSE YELP traded down $0.26 during trading hours on Friday, hitting $34.39. 1,831,486 shares of the company's stock were exchanged, compared to its average volume of 754,768. The business's 50 day moving average is $36.41 and its 200-day moving average is $37.25. Yelp has a 12-month low of $32.29 and a 12-month high of $41.72. The firm has a market capitalization of $2.20 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02.

Yelp (NYSE:YELP - Get Free Report) last released its earnings results on Thursday, May 8th. The local business review company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. The firm had revenue of $358.53 million during the quarter, compared to the consensus estimate of $353.48 million. Yelp had a net margin of 9.95% and a return on equity of 19.42%. Yelp's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 earnings per share. As a group, equities research analysts anticipate that Yelp will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at Yelp

In other news, insider Craig Saldanha sold 1,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $36.34, for a total value of $36,340.00. Following the completion of the sale, the insider now owns 223,512 shares in the company, valued at approximately $8,122,426.08. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David A. Schwarzbach sold 10,000 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $34.31, for a total value of $343,100.00. Following the completion of the transaction, the chief financial officer now owns 239,112 shares of the company's stock, valued at approximately $8,203,932.72. This represents a 4.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,345 shares of company stock valued at $2,149,176 over the last three months. 8.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Yelp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of Yelp by 82.5% during the fourth quarter. Allworth Financial LP now owns 637 shares of the local business review company's stock worth $25,000 after acquiring an additional 288 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Yelp by 307.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,096 shares of the local business review company's stock worth $42,000 after purchasing an additional 827 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Yelp in the 1st quarter valued at approximately $52,000. Strs Ohio acquired a new position in shares of Yelp in the 1st quarter valued at approximately $56,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Yelp during the first quarter worth approximately $62,000. Hedge funds and other institutional investors own 90.11% of the company's stock.

About Yelp

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.