Zacks Investment Research downgraded shares of Yelp Inc. (NYSE:YELP) from a buy rating to a hold rating in a research note published on Wednesday 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. “

A number of other research firms have also issued reports on YELP. Mizuho raised shares of Yelp from a neutral rating to a buy rating and boosted their target price for the company from $24.00 to $40.00 in a research note on Wednesday, August 10th. RBC Capital Markets reissued an outperform rating and set a $48.00 target price (up from $36.00) on shares of Yelp in a research note on Thursday, August 11th. Vetr lowered shares of Yelp from a buy rating to a hold rating and set a $42.74 target price for the company. in a research note on Tuesday, September 27th. Royal Bank Of Canada boosted their target price on shares of Yelp from $36.00 to $48.00 and gave the company an outperform rating in a research note on Wednesday, August 10th. Finally, Cantor Fitzgerald boosted their target price on shares of Yelp from $38.00 to $42.00 and gave the company a buy rating in a research note on Monday, August 8th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $36.99.

Yelp (NYSE:YELP) opened at 37.20 on Wednesday. The stock’s 50 day moving average is $36.31 and its 200-day moving average is $33.58. The stock’s market capitalization is $2.92 billion. Yelp has a 52 week low of $14.53 and a 52 week high of $43.36.

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

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In other news, SVP Michael Stoppelman sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $37.58, for a total value of $187,900.00. Following the completion of the sale, the senior vice president now owns 129,167 shares of the company’s stock, valued at $4,854,095.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joseph R. Nachman sold 20,288 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $42.99, for a total transaction of $872,181.12. Following the completion of the sale, the chief operating officer now directly owns 137,311 shares of the company’s stock, valued at approximately $5,902,999.89. The disclosure for this sale can be found here. Company insiders own 11.08% of the company’s stock.

Several large investors have recently made changes to their positions in YELP. Vanguard Group Inc. boosted its stake in Yelp by 3.4% in the second quarter. Vanguard Group Inc. now owns 4,627,569 shares of the local business review company’s stock valued at $140,493,000 after buying an additional 150,902 shares in the last quarter. Jackson Square Partners LLC boosted its stake in Yelp by 4.5% in the second quarter. Jackson Square Partners LLC now owns 2,211,457 shares of the local business review company’s stock valued at $67,139,000 after buying an additional 95,977 shares in the last quarter. Criterion Capital Management LLC boosted its stake in Yelp by 68.0% in the third quarter. Criterion Capital Management LLC now owns 1,817,516 shares of the local business review company’s stock valued at $75,790,000 after buying an additional 735,863 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Yelp by 13.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,691,992 shares of the local business review company’s stock valued at $70,556,000 after buying an additional 202,399 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Yelp by 7,215.4% in the second quarter. Marshall Wace LLP now owns 1,580,204 shares of the local business review company’s stock valued at $47,975,000 after buying an additional 1,558,603 shares in 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.

5 Day Chart for NYSE:YELP

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