Wells Fargo & Co set a $34.00 price target on Yelp (NYSE:YELP) in a report published on Friday morning. The brokerage currently has a buy rating on the local business review company’s stock.

Other equities analysts have also recently issued reports about the company. Deutsche Bank cut Yelp from a buy rating to a hold rating and cut their price target for the stock from $64.00 to $34.00 in a report on Friday. Cowen set a $39.00 price target on Yelp and gave the stock a hold rating in a report on Friday. SunTrust Banks reissued a hold rating and issued a $35.00 price target (down from $51.00) on shares of Yelp in a report on Friday. Stifel Nicolaus cut their price target on Yelp to $34.00 and set a hold rating for the company in a report on Friday. Finally, Raymond James cut Yelp from an outperform rating to a market perform rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $42.45.

Shares of NYSE YELP traded down $11.57 during trading on Friday, reaching $31.93. The company had a trading volume of 25,345,839 shares, compared to its average volume of 1,450,994. Yelp has a twelve month low of $29.33 and a twelve month high of $52.50. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 498.22, a price-to-earnings-growth ratio of 7.52 and a beta of 1.29.

Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, November 8th. The local business review company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.09. Yelp had a return on equity of 0.74% and a net margin of 17.64%. The company had revenue of $241.10 million during the quarter, compared to analysts’ expectations of $245.55 million. During the same period in the previous year, the firm posted $0.29 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts forecast that Yelp will post 0.3 EPS for the current fiscal year.

In other news, Director Geoffrey L. Donaker sold 2,000 shares of Yelp stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $46.96, for a total value of $93,920.00. Following the completion of the sale, the director now owns 8,055 shares of the company’s stock, valued at $378,262.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeremy Stoppelman sold 13,000 shares of Yelp stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $43.98, for a total value of $571,740.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 223,500 shares of company stock valued at $10,135,885. Company insiders own 9.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of YELP. BlackRock Inc. grew its position in Yelp by 28.7% during the second quarter. BlackRock Inc. now owns 7,154,009 shares of the local business review company’s stock valued at $280,295,000 after acquiring an additional 1,597,355 shares during the period. Macquarie Group Ltd. grew its position in Yelp by 126.7% during the second quarter. Macquarie Group Ltd. now owns 1,105,663 shares of the local business review company’s stock valued at $43,320,000 after acquiring an additional 617,864 shares during the period. Dimensional Fund Advisors LP grew its position in Yelp by 647.5% during the second quarter. Dimensional Fund Advisors LP now owns 647,466 shares of the local business review company’s stock valued at $25,368,000 after acquiring an additional 560,847 shares during the period. FMR LLC purchased a new stake in Yelp during the third quarter valued at about $20,179,000. Finally, Sumitomo Mitsui Asset Management Company LTD grew its position in Yelp by 15.8% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,096,725 shares of the local business review company’s stock valued at $82,149,000 after acquiring an additional 285,890 shares during the period. 86.05% of the stock is owned by hedge funds and other institutional investors.

About Yelp

Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.

Read More: Moving Average (MA)

Analyst Recommendations for Yelp (NYSE:YELP)

Receive News & Ratings for Yelp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp and related companies with MarketBeat.com's FREE daily email newsletter.