JPMorgan Chase & Co. cut shares of Yelp (NYSE:YELP) from an overweight rating to a neutral rating in a research report released on Friday morning, MarketBeat reports. They currently have $36.00 target price on the local business review company’s stock, down from their previous target price of $57.00.

Several other research firms also recently commented on YELP. Zacks Investment Research upgraded Yelp from a hold rating to a buy rating and set a $55.00 price objective on the stock in a report on Thursday, September 27th. Barclays boosted their price target on Yelp from $47.00 to $48.00 and gave the company an equal weight rating in a report on Thursday, August 9th. KeyCorp restated a hold rating on shares of Yelp in a report on Thursday, August 9th. Jefferies Financial Group boosted their price target on Yelp from $53.00 to $55.00 and gave the company a buy rating in a report on Thursday, August 9th. Finally, Robert W. Baird boosted their price target on Yelp from $44.00 to $45.00 and gave the company a neutral rating in a report on Thursday, August 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $42.45.

Shares of YELP traded down $11.57 during trading hours on Friday, hitting $31.93. The company had a trading volume of 25,345,839 shares, compared to its average volume of 1,450,994. The company has a market cap of $3.75 billion, a P/E ratio of 498.22, a P/E/G ratio of 7.52 and a beta of 1.29. Yelp has a 52-week low of $29.33 and a 52-week high of $52.50.

Yelp (NYSE:YELP) last released its quarterly earnings data on Thursday, November 8th. The local business review company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.09. The firm had revenue of $241.10 million for the quarter, compared to the consensus estimate of $245.55 million. Yelp had a return on equity of 0.74% and a net margin of 17.64%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. Analysts expect that Yelp will post 0.3 earnings per share for the current year.

In other Yelp news, CEO Jeremy Stoppelman sold 13,000 shares of Yelp stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $47.00, for a total transaction of $611,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Joseph R. Nachman sold 10,500 shares of Yelp stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $44.82, for a total value of $470,610.00. Following the sale, the chief operating officer now directly owns 109,435 shares in the company, valued at $4,904,876.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 223,500 shares of company stock worth $10,135,885. Insiders own 9.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC bought a new stake in Yelp during the 3rd quarter valued at approximately $194,000. Hartford Investment Management Co. bought a new stake in Yelp during the 3rd quarter valued at approximately $232,000. Janus Henderson Group PLC bought a new stake in Yelp during the 2nd quarter valued at approximately $206,000. Brasada Capital Management LP boosted its position in Yelp by 833.3% during the 3rd quarter. Brasada Capital Management LP now owns 5,600 shares of the local business review company’s stock valued at $276,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Gideon Capital Advisors Inc. bought a new stake in Yelp during the 2nd quarter valued at approximately $245,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

About Yelp

Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.

Recommended Story: Growth Stocks

Analyst Recommendations for Yelp (NYSE:YELP)

Receive News & Ratings for Yelp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp and related companies with MarketBeat.com's FREE daily email newsletter.