Price Action Report: Could Yelp Inc Go Down After Achieving 52-Week High?

Price Action Report: Could Yelp Inc Go Down After Achieving 52 Week High?

The stock of Yelp Inc (NYSE:YELP) hit a new 52-week high and has $62.01 target or 44.00% above today’s $43.06 share price. The 6 months bullish chart indicates low risk for the $3.35B company. The 1-year high was reported on Oct, 5 by If the $62.01 price target is reached, the company will be worth $1.47 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 717,578 shares traded hands. Yelp Inc (NYSE:YELP) has risen 98.58% since March 2, 2016 and is uptrending. It has outperformed by 90.33% the S&P500.

Analysts await Yelp Inc (NYSE:YELP) to report earnings on October, 26. They expect $-0.03 earnings per share, up 70.00% or $0.07 from last year’s $-0.1 per share. After $0.02 actual earnings per share reported by Yelp Inc for the previous quarter, Wall Street now forecasts -250.00% negative EPS growth.

Yelp Inc (NYSE:YELP) Ratings Coverage

Out of 37 analysts covering Yelp (NYSE:YELP), 15 rate it a “Buy”, 5 “Sell”, while 17 “Hold”. This means 41% are positive. Yelp has been the topic of 71 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Wednesday, August 10 by Mizuho. The rating was maintained by Northland Capital with “Under Perform” on Wednesday, July 29. The company was downgraded on Wednesday, July 29 by Topeka Capital Markets. The rating was initiated by Susquehanna on Monday, August 10 with “Neutral”. As per Wednesday, August 10, the company rating was maintained by Cantor Fitzgerald. The company was initiated on Wednesday, October 28 by Roth Capital. The company was maintained on Tuesday, August 4 by Axiom Capital. The stock of Yelp Inc (NYSE:YELP) has “Buy” rating given on Thursday, June 23 by Needham. Wedbush initiated Yelp Inc (NYSE:YELP) on Friday, July 8 with “Neutral” rating. The firm earned “Outperform” rating on Friday, May 6 by RBC Capital Markets.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.18 in Q2 2016. Its up 0.40, from 0.78 in 2016Q1. The ratio is positive, as 35 funds sold all Yelp Inc shares owned while 50 reduced positions. 44 funds bought stakes while 56 increased positions. They now own 52.13 million shares or 4.72% less from 54.71 million shares in 2016Q1.
California Pub Employees Retirement accumulated 0.01% or 129,800 shares. Moreover, Princeton Alpha Management Lp has 0.05% invested in Yelp Inc (NYSE:YELP) for 8,594 shares. Maverick Limited has 0.03% invested in the company for 66,760 shares. Hap Trading Limited Liability Company owns 10,840 shares or 0.02% of their US portfolio. Moreover, Timber Hill Ltd has 0% invested in Yelp Inc (NYSE:YELP) for 18,073 shares. Swiss State Bank, a Switzerland-based fund reported 113,764 shares. Moreover, Grp Inc One Trading Limited Partnership has 0% invested in Yelp Inc (NYSE:YELP) for 3,375 shares. Driehaus Cap Limited Liability holds 19,120 shares or 0.02% of its portfolio. Hamilton Lane Ltd owns 23,104 shares or 0.29% of their US portfolio. Parametric Assoc Ltd Com accumulated 236,719 shares or 0.01% of the stock. Citigroup holds 0.01% of its portfolio in Yelp Inc (NYSE:YELP) for 319,030 shares. Tcw Group has 32,300 shares for 0.01% of their US portfolio. Legal And General Gp Public Ltd has 5,742 shares for 0% of their US portfolio. Blackrock Advsr Limited Liability Com owns 408,629 shares or 0.01% of their US portfolio. Kcg Hldgs Incorporated has 0.01% invested in the company for 17,330 shares.

Insider Transactions: Since April 6, 2016, the stock had 0 buys, and 25 sales for $15.87 million net activity. Donaker Geoffrey L sold $154,920 worth of stock. Another trade for 2,508 shares valued at $93,928 was made by Nachman Joseph R on Tuesday, August 23. Stoppelman Jeremy had sold 263,000 shares worth $10.52M. Stoppelman Michael also sold $295,098 worth of Yelp Inc (NYSE:YELP) on Monday, August 22. 36,650 shares with value of $1.47M were sold by Wilson Laurence on Thursday, September 22.

More recent Yelp Inc (NYSE:YELP) news were published by: which released: “YELP Stock: Who Will Buy Yelp Inc?” on September 27, 2016. Also published the news titled: “Yelp Inc (YELP) Options Volume Pops on Fresh High” on September 23, 2016.‘s news article titled: “Yelp Inc: 3 Priorities Could Make YELP Stock Soar” with publication date: September 20, 2016 was also an interesting one.

YELP Company Profile

Yelp Inc. (Yelp), incorporated on September 03, 2004, connects people with local businesses by bringing word of mouth online and providing a platform for businesses and clients to engage and transact. The Firm provides local business review sites. Yelp provides a platform for clients 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. The Company’s platform also provides businesses of all sizes with a range of free and paid services that help them engage with consumers. The Firm has a range of communities of contributors across the world that contributes the content on its platform. These contributors provide firsthand information about local businesses in the form of reviews and ratings, tips, photos and videos.

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