Yelp (NYSE:YELP – Get Free Report) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $19.00 to $18.00 in a report issued on Friday, Benzinga reports. The firm presently has an “underweight” rating on the local business review company’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 7.28% from the stock’s previous close.
Several other brokerages also recently weighed in on YELP. Zacks Research raised shares of Yelp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 27th. UBS Group reaffirmed a “neutral” rating on shares of Yelp in a report on Friday. Morgan Stanley decreased their target price on Yelp from $24.00 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 13th. The Goldman Sachs Group reissued a “neutral” rating and set a $23.00 price target on shares of Yelp in a research note on Friday. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Yelp in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.14.
Yelp Trading Down 0.2%
Yelp stock opened at $19.41 on Friday. The business has a 50-day simple moving average of $19.84 and a two-hundred day simple moving average of $23.52. The company has a quick ratio of 1.75, a current ratio of 1.76 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.05 billion, a P/E ratio of 9.20, a P/E/G ratio of 1.75 and a beta of 0.43. Yelp has a 52-week low of $17.26 and a 52-week high of $34.49.
Yelp (NYSE:YELP – Get Free Report) last announced its earnings results on Thursday, November 5th. The local business review company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.20. Yelp had a net margin of 8.29% and a return on equity of 19.26%. The business had revenue of $370.92 million during the quarter, compared to analysts’ expectations of $368.66 million. During the same period in the prior year, the company earned $0.61 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. Analysts predict that Yelp will post 1.86 EPS for the current year.
Insiders Place Their Bets
In other Yelp news, CTO Alexander Coleman Levy sold 3,829 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $23.40, for a total transaction of $89,598.60. Following the transaction, the chief technology officer owned 54,124 shares in the company, valued at $1,266,501.60. The trade was a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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, CFO David Schwarzbach sold 8,809 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $23.19, for a total transaction of $204,280.71. Following the completion of 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 SEC filing for this sale provides additional information. 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 28,638 shares of company stock worth $614,249 in the last quarter. Company insiders own 8.30% of the company’s stock.
Hedge Funds Weigh In On Yelp
Several hedge funds have recently added to or reduced their stakes in YELP. Rockefeller Capital Management L.P. boosted its holdings in Yelp by 71.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,158 shares of the local business review company’s stock valued at $35,000 after acquiring an additional 482 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in Yelp in the 3rd quarter valued at $26,000. Heritage Family Offices LLP purchased a new stake in Yelp in the third quarter worth $29,000. Public Employees Retirement System of Ohio purchased a new stake in Yelp in the second quarter worth $61,000. Finally, Essential Partners LLC increased its stake in Yelp by 225.9% in the first quarter. Essential Partners LLC now owns 2,796 shares of the local business review company’s stock worth $69,000 after purchasing an additional 1,938 shares during the period. 90.11% of the stock is currently owned by institutional investors.
About Yelp
Yelp Inc operates an online platform that helps consumers discover and evaluate local businesses. Through its website and mobile applications, Yelp provides business listings, user-generated reviews, ratings, photos and other information across categories such as restaurants, home services, beauty and fitness, automotive, health and professional services.
The company generates revenue primarily by providing businesses with advertising and marketing solutions designed to increase their visibility and connect them with potential customers.
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