Yelp PT Raised to $100.00 at JPMorgan Chase & Co. (YELP)
Analysts at JPMorgan Chase & Co. raised their price objective on shares of Yelp (NASDAQ:YELP) from $94.00 to $100.00 in a research report issued to clients and investors on Thursday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 32.28% from the company’s current price.
Shares of Yelp (NASDAQ:YELP) opened at 70.481 on Thursday. Yelp has a one year low of $46.96 and a one year high of $101.75. The stock’s 50-day moving average is $72.62 and its 200-day moving average is $74.14. The company’s market cap is $5.051 billion. Yelp also was the target of some unusual options trading activity on Wednesday. Stock investors bought 42,864 call options on the company. This is an increase of approximately 631% compared to the average volume of 5,866 call options.
Yelp (NASDAQ:YELP) last released its earnings data on Wednesday, July 30th. The company reported $0.04 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.03) by $0.07. The company had revenue of $88.80 million for the quarter, compared to the consensus estimate of $86.32 million. During the same quarter last year, the company posted ($0.01) earnings per share. Yelp’s revenue was up 61.5% compared to the same quarter last year. Analysts expect that Yelp will post $-0.03 EPS for the current fiscal year.
YELP has been the subject of a number of other recent research reports. Analysts at Raymond James downgraded shares of Yelp from an “outperform” rating to a “market perform” rating in a research note on Thursday. Separately, analysts at Piper Jaffray raised their price target on shares of Yelp from $80.00 to $90.00 in a research note on Thursday. They now have an “overweight” rating on the stock. Finally, analysts at Evercore Partners raised their price target on shares of Yelp from $65.00 to $70.00 in a research note on Thursday. They now have an “underweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $89.14.
In other Yelp news, CEO Jeremy Stoppelman sold 13,514 shares of the company’s stock on the open market in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $69.46, for a total transaction of $938,682.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Yelp Inc connects people with great local businesses. Its users have contributed a total of approximately 36.
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