JPMorgan Chase & Co. Increases Yelp (YELP) Price Target to $55.00

Yelp (NYSE:YELP) had its target price increased by JPMorgan Chase & Co. from $52.00 to $55.00 in a report issued on Monday, December 18th, Marketbeat Ratings reports. The firm presently has an “overweight” rating on the local business review company’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 21.17% from the company’s current price.

YELP has been the topic of a number of other research reports. Piper Jaffray Companies reiterated an “underweight” rating and set a $37.00 price target (down previously from $38.00) on shares of Yelp in a report on Thursday, December 7th. Evercore ISI assumed coverage on shares of Yelp in a report on Tuesday, December 5th. They issued an “in-line” rating and a $46.00 target price on the stock. Zacks Investment Research cut shares of Yelp from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. ValuEngine cut shares of Yelp from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, KeyCorp set a $54.00 price target on shares of Yelp and gave the stock a “buy” rating in a research note on Thursday, November 16th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $43.49.

Shares of Yelp (YELP) traded up $1.39 during trading hours on Monday, hitting $45.39. 2,540,493 shares of the stock traded hands, compared to its average volume of 1,160,000. Yelp has a 52-week low of $26.93 and a 52-week high of $48.40. The company has a market capitalization of $3,760.00, a P/E ratio of 197.35, a price-to-earnings-growth ratio of 4.11 and a beta of 1.22.

Yelp (NYSE:YELP) last released its quarterly earnings results on Wednesday, November 1st. The local business review company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.30. Yelp had a net margin of 2.31% and a return on equity of 2.20%. The company had revenue of $222.40 million during the quarter, compared to the consensus estimate of $220.75 million. During the same period in the prior year, the firm earned $0.22 earnings per share. Yelp’s revenue was up 19.4% on a year-over-year basis. equities research analysts forecast that Yelp will post 0.17 earnings per share for the current year.

In related news, CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $43.63, for a total transaction of $567,190.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Geoffrey L. Donaker sold 6,000 shares of the stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $43.36, for a total transaction of $260,160.00. Following the sale, the director now directly owns 9,590 shares in the company, valued at $415,822.40. The disclosure for this sale can be found here. Insiders have sold a total of 339,956 shares of company stock worth $15,157,798 in the last 90 days. 10.10% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Dorsey Asset Management LLC acquired a new position in Yelp during the second quarter worth $22,095,000. Capital Fund Management S.A. raised its position in shares of Yelp by 113.2% in the second quarter. Capital Fund Management S.A. now owns 714,639 shares of the local business review company’s stock valued at $21,453,000 after buying an additional 379,367 shares during the last quarter. Ingalls & Snyder LLC raised its position in shares of Yelp by 17.0% in the third quarter. Ingalls & Snyder LLC now owns 97,521 shares of the local business review company’s stock valued at $4,223,000 after buying an additional 14,171 shares during the last quarter. AHL Partners LLP acquired a new stake in shares of Yelp in the second quarter valued at about $2,292,000. Finally, Crestline Management LP acquired a new stake in shares of Yelp in the third quarter valued at about $1,209,000. Institutional investors own 85.69% of the company’s stock.

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Yelp Company Profile

Yelp Inc (Yelp) connects people with local businesses by bringing ‘word of mouth’ online and providing a platform for businesses and consumers to engage and transact. The Company offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.

Analyst Recommendations for Yelp (NYSE:YELP)

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