Yelp (NYSE:YELP – Get Free Report)‘s stock had its “underweight” rating reaffirmed by research analysts at JPMorgan Chase & Co. in a report released on Friday, Benzinga reports. They currently have a $19.00 target price on the local business review company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 9.22% from the stock’s previous close.
Other equities analysts have also recently issued reports about the stock. Morgan Stanley decreased their price objective on shares of Yelp from $28.00 to $24.00 and set an “underweight” rating for the company in a research report on Friday, May 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Yelp in a report on Friday, August 7th. Finally, Zacks Research raised shares of Yelp from a “strong sell” rating to a “hold” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $26.57.
View Our Latest Report on Yelp
Yelp Stock Performance
Yelp (NYSE:YELP – Get Free Report) last issued its earnings results on Thursday, August 6th. The local business review company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.21. Yelp had a return on equity of 19.52% and a net margin of 8.59%.The business had revenue of $375.52 million for the quarter, compared to analyst estimates of $366.89 million. During the same period last year, the company posted $0.67 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. On average, research analysts predict that Yelp will post 1.82 earnings per share for the current year.
Insider Activity at Yelp
In other news, CFO David Schwarzbach sold 8,809 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $23.19, for a total transaction of $204,280.71. Following the sale, the chief financial officer directly owned 180,466 shares in the company, valued at approximately $4,185,006.54. This represents a 4.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Alexander Coleman Levy sold 3,829 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $23.40, for a total value of $89,598.60. Following the completion of the sale, the chief technology officer directly owned 54,124 shares in the company, valued at approximately $1,266,501.60. This trade represents a 6.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 13,138 shares of company stock valued at $304,949 over the last ninety days. Corporate insiders own 8.30% of the company’s stock.
Hedge Funds Weigh In On Yelp
Several hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC grew its stake in shares of Yelp by 100.0% in the third quarter. CIBC Private Wealth Group LLC now owns 892 shares of the local business review company’s stock worth $28,000 after purchasing an additional 446 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Yelp by 71.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,158 shares of the local business review company’s stock worth $35,000 after acquiring an additional 482 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Yelp by 181.3% during the fourth quarter. Hantz Financial Services Inc. now owns 1,297 shares of the local business review company’s stock valued at $39,000 after acquiring an additional 836 shares during the period. Strs Ohio acquired a new position in shares of Yelp during the 1st quarter valued at $56,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Yelp in the second quarter valued at $61,000. 90.11% of the stock is currently owned by institutional investors and hedge funds.
About Yelp
Yelp is a digital platform that connects consumers with local businesses through user-generated reviews, ratings and multimedia content. The company’s flagship offerings include the Yelp website and mobile applications for iOS and Android, where users can search for and discover restaurants, shops, service providers and other points of interest. In addition to crowd-sourced reviews and photographs, Yelp provides business profile pages featuring hours, contact information, menus and direct messaging capabilities.
Yelp generates revenue primarily through advertising services sold to small and medium-sized enterprises.
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