Yelp (NYSE:YELP) Given New $22.00 Price Target at JPMorgan Chase & Co.

Yelp (NYSE:YELP) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $30.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the local business review company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 6.51% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley decreased their price objective on Yelp from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday, January 13th. Wall Street Zen lowered Yelp from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird set a $25.00 price objective on shares of Yelp in a report on Friday. Zacks Research raised shares of Yelp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Finally, Evercore reduced their price objective on Yelp from $45.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.50.

Yelp Trading Down 1.5%

YELP traded down $0.32 during midday trading on Tuesday, reaching $20.66. The company’s stock had a trading volume of 1,810,598 shares, compared to its average volume of 1,329,087. The stock’s 50-day moving average is $28.38 and its 200-day moving average is $30.27. Yelp has a 1 year low of $19.61 and a 1 year high of $41.22. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.39 and a beta of 0.55.

Yelp (NYSE:YELP) last posted its earnings results on Thursday, February 12th. The local business review company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.14. The firm had revenue of $359.99 million during the quarter, compared to analyst estimates of $358.70 million. Yelp had a net margin of 9.94% and a return on equity of 19.96%. Yelp’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. As a group, equities research analysts forecast that Yelp will post 2.22 earnings per share for the current fiscal year.

Insider Activity at Yelp

In related news, insider Craig Saldanha sold 1,200 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $27.40, for a total transaction of $32,880.00. Following the completion of the sale, the insider directly owned 190,879 shares of the company’s stock, valued at approximately $5,230,084.60. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeremy Stoppelman sold 6,200 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $24.20, for a total transaction of $150,040.00. Following the completion of the sale, the chief executive officer directly owned 964,827 shares of the company’s stock, valued at $23,348,813.40. The trade was a 0.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 261,106 shares of company stock valued at $7,260,184. 8.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in YELP. Bfsg LLC increased its position in Yelp by 110.3% in the third quarter. Bfsg LLC now owns 839 shares of the local business review company’s stock worth $26,000 after purchasing an additional 440 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Yelp in the 2nd quarter valued at approximately $28,000. CIBC Private Wealth Group LLC lifted its position in Yelp by 100.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 892 shares of the local business review company’s stock worth $28,000 after buying an additional 446 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Yelp by 70.4% during the 4th quarter. Fifth Third Bancorp now owns 1,159 shares of the local business review company’s stock worth $35,000 after buying an additional 479 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of 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 worth $39,000 after purchasing an additional 836 shares in the last quarter. 90.11% of the stock is owned by institutional investors.

About Yelp

Yelp is a digital platform that connects consumers with local businesses through user-generated reviews, ratings and multimedia content. The company’s flagship offerings include the Yelp website and mobile applications for iOS and Android, where users can search for and discover restaurants, shops, service providers and other points of interest. In addition to crowd-sourced reviews and photographs, Yelp provides business profile pages featuring hours, contact information, menus and direct messaging capabilities.

Yelp generates revenue primarily through advertising services sold to small and medium-sized enterprises.