JPMorgan Chase & Co. Has Lowered Expectations for Yelp (NYSE:YELP) Stock Price

Yelp (NYSE:YELP) had its price objective cut by analysts at JPMorgan Chase & Co. from $19.00 to $18.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the local business review company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 7.28% from the company’s previous close.

Several other research analysts have also commented on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $23.00 price target on shares of Yelp in a report on Friday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Yelp in a research report on Wednesday. UBS Group reiterated a “neutral” rating on shares of Yelp in a research note on Friday. Zacks Research raised shares of Yelp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 27th. Finally, Morgan Stanley cut their target price on shares of Yelp from $24.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.14.

Yelp Stock Performance

Shares of NYSE:YELP opened at $19.41 on Friday. The business has a 50-day moving average of $19.84 and a two-hundred day moving average of $23.52. The firm has a market capitalization of $1.05 billion, a PE ratio of 9.20, a P/E/G ratio of 1.75 and a beta of 0.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 1.75. Yelp has a 12 month low of $17.26 and a 12 month high of $34.49.

Yelp (NYSE:YELP) last released its quarterly earnings data on Thursday, November 5th. The local business review company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.20. Yelp had a return on equity of 19.26% and a net margin of 8.29%. The business had revenue of $370.92 million for the quarter, compared to analyst estimates of $368.66 million. During the same period in the previous year, the company posted $0.61 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, research analysts forecast that Yelp will post 1.86 earnings per share for the current year.

Insider Activity

In other news, CTO Alexander Coleman Levy sold 3,829 shares of the stock in a transaction dated 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 sale, the chief technology officer owned 54,124 shares in the company, valued at approximately $1,266,501.60. This trade represents a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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, CFO David A. Schwarzbach sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $20.00, for a total value of $150,000.00. Following the sale, the chief financial officer owned 165,466 shares in the company, valued at approximately $3,309,320. The trade was a 4.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,638 shares of company stock valued at $614,249 in the last ninety days. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Yelp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its position in Yelp by 71.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,158 shares of the local business review company’s stock valued at $35,000 after acquiring an additional 482 shares in the last quarter. Lakewood Asset Management LLC raised its stake in shares of Yelp by 5.9% during the third quarter. Lakewood Asset Management LLC now owns 18,090 shares of the local business review company’s stock valued at $335,000 after purchasing an additional 1,015 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Yelp during the third quarter valued at approximately $26,000. Heritage Family Offices LLP acquired a new position in shares of Yelp during the third quarter worth $29,000. Finally, Pictet Asset Management Holding SA lifted its position in shares of Yelp by 16.9% during the first quarter. Pictet Asset Management Holding SA now owns 11,482 shares of the local business review company’s stock worth $284,000 after purchasing an additional 1,656 shares in the last quarter. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Yelp Company Profile

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

The company generates revenue primarily by providing businesses with advertising and marketing solutions designed to increase their visibility and connect them with potential customers.