Yelp (YELP) Lowered to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Yelp (NYSE:YELP) from an overweight rating to a neutral rating in a report issued on Friday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $36.00 target price on the local business review company’s stock, down from their prior target price of $57.00.

YELP has been the subject of a number of other reports. Jefferies Financial Group raised their price target on Yelp from $53.00 to $55.00 and gave the stock a buy rating in a report on Thursday, August 9th. Wedbush lowered Yelp from an outperform rating to a neutral rating and dropped their price objective for the company from $60.00 to $32.00 in a research note on Friday. Zacks Investment Research raised Yelp from a hold rating to a buy rating and set a $53.00 price objective for the company in a research note on Wednesday, August 15th. Royal Bank of Canada lifted their price objective on Yelp to $62.00 and gave the company an outperform rating in a research note on Monday, September 17th. Finally, Raymond James lowered Yelp from an outperform rating to a market perform rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $42.45.

Shares of Yelp stock traded down $11.57 during trading hours on Friday, reaching $31.93. The company had a trading volume of 25,345,839 shares, compared to its average volume of 1,450,994. Yelp has a one year low of $29.33 and a one year high of $52.50. The firm has a market capitalization of $3.75 billion, a P/E ratio of 498.22, a PEG ratio of 7.52 and a beta of 1.29.

Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, November 8th. The local business review company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.09. Yelp had a return on equity of 0.74% and a net margin of 17.64%. The firm had revenue of $241.10 million during the quarter, compared to analyst estimates of $245.55 million. During the same period last year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts forecast that Yelp will post 0.3 earnings per share for the current year.

In other Yelp news, Director Geoffrey L. Donaker sold 2,000 shares of Yelp stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $46.96, for a total transaction of $93,920.00. Following the completion of the sale, the director now owns 8,055 shares of the company’s stock, valued at $378,262.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeremy Stoppelman sold 13,000 shares of Yelp stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $47.00, for a total value of $611,000.00. The disclosure for this sale can be found here. Insiders have sold 223,500 shares of company stock valued at $10,135,885 in the last three months. 9.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of YELP. BlackRock Inc. lifted its stake in Yelp by 28.7% during the second quarter. BlackRock Inc. now owns 7,154,009 shares of the local business review company’s stock worth $280,295,000 after purchasing an additional 1,597,355 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Yelp by 126.7% during the second quarter. Macquarie Group Ltd. now owns 1,105,663 shares of the local business review company’s stock worth $43,320,000 after purchasing an additional 617,864 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Yelp by 647.5% during the second quarter. Dimensional Fund Advisors LP now owns 647,466 shares of the local business review company’s stock worth $25,368,000 after purchasing an additional 560,847 shares during the last quarter. FMR LLC bought a new stake in Yelp during the third quarter worth about $20,179,000. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its stake in Yelp by 15.8% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,096,725 shares of the local business review company’s stock worth $82,149,000 after purchasing an additional 285,890 shares during the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Yelp Company Profile

Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.

Read More: Stock Symbols and CUSIP Explained

Analyst Recommendations for Yelp (NYSE:YELP)

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