Bank of America Begins Coverage on Yelp (NYSE:YELP)

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

YELP has been the subject of several other research reports. StockNews.com cut Yelp from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. dropped their target price on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Wolfe Research started coverage on shares of Yelp in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, Morgan Stanley increased their price objective on shares of Yelp from $32.00 to $34.00 and gave the stock 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 assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.20.

Yelp Stock Performance

NYSE:YELP opened at $34.44 on Monday. Yelp has a fifty-two week low of $32.56 and a fifty-two week high of $48.99. The company has a 50 day simple moving average of $34.97 and a two-hundred day simple moving average of $37.04. The company has a market capitalization of $2.30 billion, a PE ratio of 21.94 and a beta of 1.33.

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

Insider Buying and Selling at Yelp

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

Institutional Investors Weigh In On Yelp

A number of institutional investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in shares of Yelp in the first quarter valued at approximately $25,000. Fifth Third Bancorp boosted its position in Yelp by 262.8% in the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock worth $25,000 after purchasing an additional 481 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Yelp in the 2nd quarter valued at $25,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Yelp during the 4th quarter valued at $27,000. Finally, Quarry LP raised its stake in shares of Yelp by 153.4% during the 2nd quarter. Quarry LP now owns 1,323 shares of the local business review company’s stock worth $49,000 after purchasing an additional 801 shares during the period. 90.11% of the stock is owned by institutional investors.

Yelp Company Profile

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.