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.
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.
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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.
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