Yelp (NYSE:YELP) Given New $35.00 Price Target at JPMorgan Chase & Co.

Yelp (NYSE:YELP) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $36.00 to $35.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the local business review company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 1.54% from the stock’s current price.

Separately, Morgan Stanley reduced their target price on Yelp from $35.00 to $30.00 and set an “underweight” rating on the stock in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.33.

Yelp Stock Performance

Shares of NYSE YELP opened at $34.47 on Tuesday. The firm has a 50 day moving average price of $35.20 and a two-hundred day moving average price of $36.85. The stock has a market cap of $2.24 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. Yelp has a 52-week low of $32.29 and a 52-week high of $41.72.

Yelp (NYSE:YELP) last announced its earnings results on Thursday, February 13th. The local business review company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.09. The business had revenue of $361.95 million during the quarter, compared to analyst estimates of $350.73 million. Yelp had a return on equity of 18.07% and a net margin of 9.41%. Analysts predict that Yelp will post 2.22 earnings per share for the current fiscal year.

Insider Activity at Yelp

In other Yelp news, CTO Sam Eaton sold 21,989 shares of Yelp stock in a transaction on Friday, February 21st. The shares were sold at an average price of $35.70, for a total value of $785,007.30. Following the completion of the sale, the chief technology officer now directly owns 153,159 shares of the company’s stock, valued at approximately $5,467,776.30. The trade was a 12.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Saldanha sold 1,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $35.75, for a total transaction of $35,750.00. Following the transaction, the insider now directly owns 211,558 shares in the company, valued at $7,563,198.50. This trade represents a 0.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,727 shares of company stock worth $2,025,717 in the last 90 days. Corporate insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in Yelp by 6.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 355,748 shares of the local business review company’s stock valued at $13,173,000 after acquiring an additional 20,786 shares during the period. Moran Wealth Management LLC acquired a new stake in Yelp in the 1st quarter valued at $5,134,000. Cambridge Investment Research Advisors Inc. bought a new stake in Yelp during the 1st quarter valued at $203,000. Suncoast Equity Management raised its holdings in Yelp by 13.9% during the first quarter. Suncoast Equity Management now owns 21,235 shares of the local business review company’s stock worth $786,000 after buying an additional 2,595 shares during the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in shares of Yelp by 29.5% in the first quarter. CWA Asset Management Group LLC now owns 16,573 shares of the local business review company’s stock valued at $614,000 after buying an additional 3,777 shares in the last quarter. 90.11% of the stock is owned by institutional investors and hedge funds.

About Yelp

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.