Needham & Company Comments on Yelp (YELP) Amid Priceline/OpenTable Deal

June 13, 2014 10:25 AM EDT Send to a Friend
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Price: $70.23 -1.47%

Rating Summary:
    24 Buy, 11 Hold, 1 Sell

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    Up: 29 | Down: 28 | New: 24
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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.

For an analyst ratings summary and ratings history on Yelp click here. For more ratings news on Yelp click here.

Shares of Yelp closed at $65.84 yesterday.



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