Yelp (NYSE:YELP) had its price objective increased by investment analysts at J P Morgan Chase & Co from $52.00 to $55.00 in a research report issued on Monday. The firm currently has an “overweight” rating on the local business review company’s stock. J P Morgan Chase & Co’s price target would indicate a potential upside of 29.63% from the company’s current price.
A number of other equities research analysts have also recently commented on YELP. Citigroup raised their price target on Yelp from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, October 2nd. Robert W. Baird raised their price target on Yelp from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. KeyCorp reissued a “buy” rating and set a $54.00 price target on shares of Yelp in a report on Wednesday, October 4th. Zacks Investment Research cut Yelp from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Finally, Evercore ISI assumed coverage on Yelp in a report on Tuesday, December 5th. They set an “in-line” rating and a $46.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $43.49.
Yelp (YELP) traded up $0.26 during midday trading on Monday, reaching $42.43. The company had a trading volume of 1,035,300 shares, compared to its average volume of 2,447,301. The stock has a market capitalization of $3,516.98, a P/E ratio of 192.86, a PEG ratio of 9.14 and a beta of 1.22. Yelp has a 12 month low of $26.93 and a 12 month high of $48.40.
In other Yelp news, CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $43.49, for a total transaction of $565,370.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alan Ramsay sold 592 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $46.92, for a total value of $27,776.64. Following the sale, the insider now directly owns 20,048 shares in the company, valued at $940,652.16. The disclosure for this sale can be found here. Insiders have sold 326,956 shares of company stock worth $14,660,198 over the last three months. 10.10% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in YELP. BlackRock Inc. boosted its position in shares of Yelp by 84.9% during the second quarter. BlackRock Inc. now owns 5,232,684 shares of the local business review company’s stock valued at $157,084,000 after buying an additional 2,403,240 shares during the period. Southpoint Capital Advisors LP purchased a new stake in shares of Yelp in the second quarter valued at approximately $66,044,000. Dorsey Asset Management LLC purchased a new stake in shares of Yelp in the second quarter valued at approximately $22,095,000. Prescott General Partners LLC boosted its holdings in shares of Yelp by 21.3% in the second quarter. Prescott General Partners LLC now owns 3,851,774 shares of the local business review company’s stock valued at $115,630,000 after purchasing an additional 676,251 shares during the period. Finally, SQN Investors LP boosted its holdings in shares of Yelp by 178.0% in the second quarter. SQN Investors LP now owns 1,040,474 shares of the local business review company’s stock valued at $31,235,000 after purchasing an additional 666,179 shares during the period. Institutional investors and hedge funds own 85.75% of the company’s stock.
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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.
