Needham & Company Comments on Yelp (YELP) Amid Priceline/OpenTable Deal
- Market Wrap: Nasdaq Back to 'Dot-Com' Highs; Gross Gets Real on Rates; Merger Monday!
- NXP Semi (NXPI) and Freescale Semi (FSL) to Merge in $40 Billion Deal
- After-Hours Stock Movers 03/02: (MDR) (XON) (OCN) Higher; (LAYN) (CZR) (MYL) Lower (more...)
- Ocwen Financial (OCN) Announces Items Affecting Q4 Results; Updates on FY15 Asset Sales, Liquidity Improvement Plans
- Palo Alto Networks (PANW) Tops Q2 EPS by 2c; Issues Solid Outlook
Needham & Company analyst Kerry Rice commented on Yelp (NYSE: YELP) following Priceline’s bid to acquire OpenTable and expects Yelp to trade up on the news.
"We estimate that the $103/share offer price, places OpenTable’s EV/Sales for 2015 at 9x compared to Yelp’s 2015 EV/Sales multiple of 8x," he notes.
The firm maintained a Buy rating and price target of $93 on Yelp.
Shares of Yelp closed at $65.84 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- PayPal to Buy Paydiant (EBAY)
- Tetralogic Pharmaceuticals (TLOG) Target Cut at Needham & Company; 'Buy' Maintained
- Cardinal Health (CAH) to Acquire J&J's (JNJ) Cordis Unit in Net $1.6B Deal
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesNeedham & Company, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!