Yelp Inc. (YELP) Receives “Overweight” Rating from J P Morgan Chase & Co
Yelp Inc. (NYSE:YELP)‘s stock had its “overweight” rating restated by analysts at J P Morgan Chase & Co in a report issued on Friday, The Fly reports. They currently have a $46.00 price objective on the local business review company’s stock. J P Morgan Chase & Co’s price target indicates a potential upside of 14.86% from the company’s current price. The analysts noted that the move was a valuation call.
Several other equities research analysts have also recently commented on YELP. B. Riley reaffirmed a “neutral” rating and issued a $25.00 price target on shares of Yelp in a report on Monday, May 15th. Jefferies Group LLC increased their price target on Yelp to $43.00 and gave the company a “buy” rating in a report on Friday. Roth Capital set a $21.00 price target on Yelp and gave the company a “sell” rating in a report on Monday, July 31st. BidaskClub cut Yelp from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Loop Capital reaffirmed a “hold” rating on shares of Yelp in a report on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eighteen have given a buy rating to the company. Yelp currently has a consensus rating of “Hold” and an average target price of $37.25.
Yelp (YELP) traded up 27.67% during mid-day trading on Friday, reaching $40.05. The company’s stock had a trading volume of 16,906,184 shares. The company has a market cap of $3.23 billion, a PE ratio of 541.22 and a beta of 1.48. The firm’s 50 day moving average is $31.06 and its 200-day moving average is $33.37. Yelp has a 12-month low of $26.93 and a 12-month high of $43.41. Yelp also was the recipient of some unusual options trading on Thursday. Traders bought 62,135 put options on the stock. This is an increase of approximately 1,632% compared to the average daily volume of 3,587 put options.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.12. Yelp had a return on equity of 1.64% and a net margin of 1.67%. The firm had revenue of $209.90 million during the quarter, compared to analysts’ expectations of $204.89 million. During the same quarter last year, the firm earned $0.16 earnings per share. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities analysts anticipate that Yelp will post ($0.08) earnings per share for the current fiscal year.
Yelp announced that its board has approved a share buyback program on Thursday, August 3rd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the local business review company to reacquire up to 7.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In related news, COO Joseph R. Nachman sold 3,789 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total value of $106,963.47. Following the transaction, the chief operating officer now owns 137,615 shares in the company, valued at approximately $3,884,871.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey L. Donaker sold 4,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $29.99, for a total value of $119,960.00. Following the completion of the transaction, the director now owns 9,590 shares in the company, valued at approximately $287,604.10. The disclosure for this sale can be found here. Insiders have sold 52,251 shares of company stock worth $1,534,950 in the last quarter. Insiders own 10.10% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Capital Fund Management S.A. boosted its position in shares of Yelp by 852.6% in the first quarter. Capital Fund Management S.A. now owns 335,272 shares of the local business review company’s stock valued at $10,980,000 after buying an additional 300,076 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Yelp by 192.1% in the first quarter. Daiwa Securities Group Inc. now owns 194,846 shares of the local business review company’s stock valued at $6,381,000 after buying an additional 128,131 shares during the period. Flinton Capital Management LLC bought a new position in shares of Yelp during the first quarter valued at about $205,000. Tyers Asset Management LLC bought a new position in shares of Yelp during the first quarter valued at about $169,000. Finally, Millie Capital Management LLC boosted its position in shares of Yelp by 1.2% in the first quarter. Millie Capital Management LLC now owns 64,378 shares of the local business review company’s stock valued at $2,108,000 after buying an additional 775 shares during the period. Hedge funds and other institutional investors own 92.20% of the company’s stock.
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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