Yelp (NYSE:YELP) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Yelp (NYSE:YELP) in a report released on Friday, MarketBeat.com reports. The brokerage issued an underweight rating and a $19.00 price target on the local business review company’s stock.

YELP has been the subject of a number of other research reports. Morgan Stanley lowered their price objective on Yelp from $28.00 to $24.00 and set an “underweight” rating for the company in a research report on Friday, May 15th. Zacks Research raised Yelp from a “strong sell” rating to a “hold” rating in a report on Thursday, May 14th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Yelp in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Yelp currently has an average rating of “Reduce” and a consensus target price of $26.57.

Yelp Stock Performance

Shares of Yelp stock opened at $21.33 on Friday. The company has a market capitalization of $1.16 billion, a PE ratio of 10.21, a P/E/G ratio of 1.96 and a beta of 0.43. The company has a 50-day simple moving average of $24.47 and a two-hundred day simple moving average of $24.49. Yelp has a one year low of $19.60 and a one year high of $34.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.75 and a current ratio of 1.75.

Yelp (NYSE:YELP) last issued its quarterly earnings data on Thursday, August 6th. The local business review company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.21. Yelp had a net margin of 8.59% and a return on equity of 19.52%. The firm had revenue of $375.52 million for the quarter, compared to the consensus estimate of $366.89 million. During the same quarter in the previous year, the firm earned $0.67 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Research analysts expect that Yelp will post 1.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO David Schwarzbach sold 8,809 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $23.19, for a total value of $204,280.71. Following the transaction, the chief financial officer directly owned 180,466 shares of the company’s stock, valued at $4,185,006.54. This represents a 4.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Alexander Coleman Levy sold 3,829 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $23.40, for a total value of $89,598.60. Following the completion of the transaction, the chief technology officer owned 54,124 shares of the company’s stock, valued at $1,266,501.60. This trade represents a 6.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 13,138 shares of company stock worth $304,949 over the last three months. Corporate insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Yelp

A number of institutional investors and hedge funds have recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its position in Yelp by 100.0% in the third quarter. CIBC Private Wealth Group LLC now owns 892 shares of the local business review company’s stock valued at $28,000 after buying an additional 446 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Yelp by 71.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,158 shares of the local business review company’s stock worth $35,000 after buying an additional 482 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Yelp by 181.3% during the 4th quarter. Hantz Financial Services Inc. now owns 1,297 shares of the local business review company’s stock valued at $39,000 after acquiring an additional 836 shares during the period. Strs Ohio acquired a new stake in Yelp during the 1st quarter valued at approximately $56,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Yelp in the 2nd quarter valued at $61,000. Institutional investors and hedge funds own 90.11% of the company’s stock.

Yelp Company Profile

Yelp Inc operates an online platform that connects consumers with local businesses. Through its website and mobile applications, Yelp provides user-generated reviews, ratings, photos and other information about businesses across categories such as restaurants, home services, beauty and fitness, automotive, health and professional services.

The company generates revenue primarily by offering businesses advertising and other marketing products designed to help them reach consumers searching for local services.