Vetr Crowd Upgrades Yelp From 'Strong Sell' To 'Strong Buy,' Sees 31% Upside Potential

Shares of Yelp Inc YELP have managed to rebound almost 79 percent since their February lows, but are still, ultimately down 5.4 percent year-to-date. However, the Vetr crowd seems to believe the rally will continue for a while, as indicated by the community’s average price target of $35.50, which implies an upside potential of more than 31 percent from current valuations.

Related Link: Here's How Crowdsourced Ratings Can Beat The Market

Seeking to better reflect this large upside potential, the Vetr community decided upgrade its rating on shares of Yelp on Monday, from 1.0 Stars (Strong Sell) to 5.0 Stars (Strong Buy) - out of a possible 5.0 Stars rating.

However, it should be noted that 79 percent of the crowd’s ratings are still bearish, meaning that a few bulls that emerged recently have helped push the price target and rating up. Check out a chart illustrating the distribution of the ratings here.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.