Yelp (NYSE:YELP) Price Target Cut to $35.00 by Analysts at JPMorgan Chase & Co.

Yelp (NYSE:YELP) had its price target trimmed by JPMorgan Chase & Co. from $38.00 to $35.00 in a report issued on Monday morning, Benzinga reports. They currently have a neutral rating on the local business review company’s stock.

Other analysts have also issued reports about the company. Craig Hallum lowered their price objective on Yelp from $55.00 to $48.00 and set a buy rating for the company in a research report on Friday, May 10th. Wolfe Research assumed coverage on shares of Yelp in a research report on Tuesday, July 16th. They set a peer perform rating for the company. Morgan Stanley boosted their price target on shares of Yelp from $32.00 to $34.00 and gave the stock an underweight rating in a research note on Tuesday, July 23rd. Finally, Robert W. Baird reduced their price objective on shares of Yelp from $44.00 to $39.00 and set a neutral rating on the stock in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $39.00.

Yelp Price Performance

Shares of Yelp stock opened at $33.33 on Monday. The company has a market cap of $2.25 billion, a PE ratio of 21.15 and a beta of 1.33. The firm has a fifty day moving average price of $36.05 and a two-hundred day moving average price of $38.32. Yelp has a fifty-two week low of $32.56 and a fifty-two week high of $48.99.

Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, August 8th. The local business review company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.27. Yelp had a return on equity of 18.71% and a net margin of 10.01%. The firm had revenue of $357.00 million for the quarter, compared to analyst estimates of $352.98 million. During the same period in the previous year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts expect that Yelp will post 1.53 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Carmen Orr sold 14,984 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $38.00, for a total value of $569,392.00. Following the completion of the sale, the insider now directly owns 110,011 shares of the company’s stock, valued at $4,180,418. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Carmen Orr sold 14,984 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $38.00, for a total value of $569,392.00. Following the transaction, the insider now owns 110,011 shares in the company, valued at approximately $4,180,418. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Sam Eaton sold 26,718 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $36.62, for a total transaction of $978,413.16. Following the completion of the transaction, the chief technology officer now directly owns 167,861 shares in the company, valued at $6,147,069.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,068 shares of company stock valued at $2,230,340. 7.40% of the stock is owned by company insiders.

Institutional Trading of Yelp

Institutional investors have recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. acquired a new position in shares of Yelp during the 4th quarter worth approximately $27,000. Fidelis Capital Partners LLC bought a new position in Yelp during the 1st quarter worth $25,000. Fifth Third Bancorp raised its holdings in Yelp by 262.8% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock valued at $25,000 after acquiring an additional 481 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Yelp in the 2nd quarter valued at $25,000. Finally, Daiwa Securities Group Inc. bought a new stake in Yelp during the fourth quarter worth about $43,000. 90.11% of the stock is currently owned by institutional investors.

About Yelp

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.