Yelp (YELP) PT Raised to $55.00 at J P Morgan Chase & Co

Yelp (NYSE:YELP) had its target price raised by J P Morgan Chase & Co from $52.00 to $55.00 in a report released on Monday. The brokerage currently has an “overweight” rating on the local business review company’s stock. J P Morgan Chase & Co’s price target suggests a potential upside of 26.29% from the company’s current price.

A number of other equities research analysts have also weighed in on YELP. Citigroup upped their target price on shares of Yelp from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, October 2nd. Robert W. Baird upped their target price on shares of Yelp from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. KeyCorp restated a “buy” rating and issued a $54.00 target price on shares of Yelp in a report on Wednesday, October 4th. Zacks Investment Research lowered shares of Yelp from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Finally, Jefferies Group upped their target price on shares of Yelp from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, August 25th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $43.49.

Shares of Yelp (YELP) opened at $43.55 on Monday. Yelp has a fifty-two week low of $26.93 and a fifty-two week high of $48.40. The firm has a market cap of $3,516.98, a PE ratio of 192.86, a P/E/G ratio of 9.14 and a beta of 1.22.

Yelp (NYSE:YELP) last posted its earnings results on Wednesday, November 1st. The local business review company reported $0.29 earnings per share 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 for the quarter, compared to analyst estimates of $220.75 million. During the same quarter in the prior year, the business posted $0.22 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year. equities research analysts forecast that Yelp will post 0.17 earnings per share for the current year.

In other news, CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $47.59, for a total transaction of $618,670.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Laurence Wilson sold 30,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $46.18, for a total transaction of $1,385,400.00. Following the transaction, the insider now directly owns 187,739 shares of the company’s stock, valued at $8,669,787.02. The disclosure for this sale can be found here. Insiders have sold a total of 333,956 shares of company stock valued at $14,949,358 over the last three months. Insiders own 10.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in YELP. Strs Ohio bought a new position in Yelp in the 2nd quarter worth approximately $108,000. Russell Investments Group Ltd. boosted its holdings in Yelp by 98.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock worth $123,000 after buying an additional 2,033 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Yelp by 28,585.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,016 shares of the local business review company’s stock worth $174,000 after buying an additional 4,002 shares during the period. Commerzbank Aktiengesellschaft FI bought a new position in Yelp in the 3rd quarter worth approximately $204,000. Finally, Ameritas Investment Partners Inc. bought a new position in Yelp in the 2nd quarter worth approximately $205,000. 85.69% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Yelp (YELP) PT Raised to $55.00 at J P Morgan Chase & Co” was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The correct version of this article can be viewed at https://sportsperspectives.com/2017/12/20/yelp-yelp-pt-raised-to-55-00-at-j-p-morgan-chase-co.html.

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)

Receive News & Ratings for Yelp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply