Yelp (NYSE:YELP) Research Coverage Started at Bank of America

Investment analysts at Bank of America initiated coverage on shares of Yelp (NYSE:YELP) in a research report issued on Monday, Marketbeat Ratings reports. The brokerage set an “underperform” rating and a $30.00 price target on the local business review company’s stock. Bank of America‘s target price indicates a potential downside of 12.89% from the stock’s current price.

YELP has been the topic of several other research reports. StockNews.com downgraded Yelp from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. lowered their price target on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Wolfe Research assumed coverage on shares of Yelp in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Morgan Stanley lifted their target price on Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Yelp has a consensus rating of “Hold” and a consensus target price of $37.20.

Yelp Stock Performance

Shares of YELP opened at $34.44 on Monday. The stock has a 50 day simple moving average of $34.97 and a 200 day simple moving average of $37.04. Yelp has a 52-week low of $32.56 and a 52-week high of $48.99. The firm has a market capitalization of $2.30 billion, a PE ratio of 21.94 and a beta of 1.33.

Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, August 8th. The local business review company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. Yelp had a net margin of 10.01% and a return on equity of 18.71%. The company had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $352.98 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts predict that Yelp will post 1.65 EPS for the current fiscal year.

Insider Transactions at Yelp

In related news, COO Joseph R. Nachman sold 7,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $33.25, for a total value of $232,750.00. Following the transaction, the chief operating officer now directly owns 281,842 shares in the company, valued at $9,371,246.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Yelp news, CTO Sam Eaton sold 10,776 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $35.00, for a total transaction of $377,160.00. Following the sale, the chief technology officer now directly owns 145,171 shares in the company, valued at $5,080,985. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Joseph R. Nachman sold 7,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $33.25, for a total transaction of $232,750.00. Following the sale, the chief operating officer now owns 281,842 shares in the company, valued at approximately $9,371,246.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,776 shares of company stock worth $863,590. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Yelp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Yelp by 0.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,231 shares of the local business review company’s stock valued at $3,398,000 after purchasing an additional 288 shares during the last quarter. CWM LLC increased its holdings in Yelp by 24.7% in the 2nd quarter. CWM LLC now owns 1,903 shares of the local business review company’s stock worth $70,000 after purchasing an additional 377 shares in the last quarter. Parallel Advisors LLC raised its position in Yelp by 38.7% in the fourth quarter. Parallel Advisors LLC now owns 1,497 shares of the local business review company’s stock valued at $71,000 after purchasing an additional 418 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Yelp by 262.8% during the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock valued at $25,000 after purchasing an additional 481 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC grew its holdings in shares of Yelp by 33.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,036 shares of the local business review company’s stock worth $80,000 after purchasing an additional 515 shares during the last quarter. 90.11% of the stock is currently owned by institutional investors.

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.