Fintel reports that on July 17, 2023, Goldman Sachs upgraded their outlook for Yelp (NYSE:YELP) from Neutral to Buy.

Analyst Price Forecast Suggests 7.38% Downside

As of July 6, 2023, the average one-year price target for Yelp is 35.32. The forecasts range from a low of 26.26 to a high of $45.15. The average price target represents a decrease of 7.38% from its latest reported closing price of 38.13.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Yelp is 1,319MM, an increase of 7.30%. The projected annual non-GAAP EPS is 1.23.

What is the Fund Sentiment?

There are 578 funds or institutions reporting positions in Yelp. This is a decrease of 2 owner(s) or 0.34% in the last quarter. Average portfolio weight of all funds dedicated to YELP is 0.21%, a decrease of 11.30%. Total shares owned by institutions decreased in the last three months by 3.74% to 69,227K shares. The put/call ratio of YELP is 0.46, indicating a bullish outlook.

What are Other Shareholders Doing?

IJR – iShares Core S&P Small-Cap ETF holds 5,072K shares representing 7.37% ownership of the company. In it’s prior filing, the firm reported owning 5,165K shares, representing a decrease of 1.84%. The firm increased its portfolio allocation in YELP by 7.13% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,024K shares representing 2.94% ownership of the company. In it’s prior filing, the firm reported owning 2,013K shares, representing an increase of 0.52%. The firm increased its portfolio allocation in YELP by 4.23% over the last quarter.

River Road Asset Management holds 2,008K shares representing 2.92% ownership of the company. In it’s prior filing, the firm reported owning 2,013K shares, representing a decrease of 0.23%. The firm increased its portfolio allocation in YELP by 11.48% over the last quarter.

Prescott General Partners holds 1,975K shares representing 2.87% ownership of the company. In it’s prior filing, the firm reported owning 2,525K shares, representing a decrease of 27.82%. The firm decreased its portfolio allocation in YELP by 14.31% over the last quarter.

Macquarie Group holds 1,899K shares representing 2.76% ownership of the company. In it’s prior filing, the firm reported owning 1,859K shares, representing an increase of 2.08%. The firm decreased its portfolio allocation in YELP by 4.73% over the last quarter.

Yelp Background Information
(This description is provided by the company.)

Yelp Inc. connects people with great local businesses. With unmatched local business information, photos and review content, Yelp provides a one-stop local platform for consumers to discover, connect and transact with local businesses of all sizes by making it easy to request a quote, join a waitlist, and make a reservation, appointment or purchase. Yelp was founded in San Francisco in July 2004.

This article originally appeared on Fintel

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