Yelp Inc (YELP) Receives “Buy” Rating from J P Morgan Chase & Co

J P Morgan Chase & Co reaffirmed their buy rating on shares of Yelp Inc (NYSE:YELP) in a research note released on Thursday morning. J P Morgan Chase & Co currently has a $52.00 price objective on the local business review company’s stock.

Other research analysts also recently issued reports about the stock. Needham & Company LLC reiterated a buy rating and issued a $43.00 price target (up from $30.00) on shares of Yelp in a research report on Friday, August 4th. Jefferies Group LLC raised their price objective on shares of Yelp from $37.00 to $43.00 and gave the company a buy rating in a research report on Friday, August 4th. MKM Partners upgraded shares of Yelp from a neutral rating to a buy rating and raised their price objective for the company from $27.00 to $31.31 in a research report on Friday, August 4th. Credit Suisse Group set a $40.00 price objective on shares of Yelp and gave the company a buy rating in a research report on Friday, August 4th. Finally, Deutsche Bank AG restated a buy rating and set a $45.00 price objective (up from $36.00) on shares of Yelp in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Yelp has an average rating of Buy and a consensus target price of $43.37.

Yelp (YELP) traded up $0.09 on Thursday, reaching $46.07. 1,660,000 shares of the company’s stock traded hands, compared to its average volume of 1,550,000. Yelp has a fifty-two week low of $26.93 and a fifty-two week high of $48.17. The company has a market capitalization of $3,770.00, a P/E ratio of 209.00, a PEG ratio of 25.00 and a beta of 1.29.

Yelp (NYSE:YELP) last released its quarterly earnings results on Wednesday, November 1st. The local business review company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.30. Yelp had a net margin of 2.31% and a return on equity of 2.26%. The business had revenue of $222.40 million for the quarter, compared to the consensus estimate of $220.75 million. During the same period last year, the firm earned $0.22 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. analysts predict that Yelp will post 0.07 earnings per share for the current year.

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Yelp announced that its board has approved a stock repurchase plan on Thursday, August 3rd that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the local business review company to buy up to 7.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

In other news, CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $41.05, for a total value of $533,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Laurence Wilson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $42.00, for a total transaction of $420,000.00. Following the completion of the sale, the senior vice president now owns 191,947 shares of the company’s stock, valued at approximately $8,061,774. The disclosure for this sale can be found here. In the last 90 days, insiders sold 310,981 shares of company stock valued at $13,545,530. Company insiders own 10.10% of the company’s stock.

Several large investors have recently bought and sold shares of YELP. Strs Ohio bought a new stake in shares of Yelp in the 2nd quarter valued at about $108,000. Russell Investments Group Ltd. raised its holdings in shares of Yelp by 98.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after purchasing an additional 2,033 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Yelp during the 2nd quarter worth approximately $205,000. ProShare Advisors LLC bought a new position in shares of Yelp during the 2nd quarter worth approximately $215,000. Finally, Prudential Financial Inc. bought a new position in shares of Yelp during the 2nd quarter worth approximately $249,000. Institutional investors and hedge funds own 89.28% 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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