Needham & Company Comments on Yelp (YELP) Amid Priceline/OpenTable Deal
- S&P 500 reaches three-week high as health stocks rally
- SABMiller Rejects GBP 42.15/Share Offer From AB InBev SA (BUD)
- Deutsche Bank (DB) Anticipates EUR 5.8B Goodwill Impairment in Q3
- Yum! Brands (YUM) Misses Q3 EPS by 7c; Cuts FY15 EPS Growth Outlook
- After-Hours Stock Movers 10/07: (NVLS) (LL) (LBIO) Higher; (CSII) (DB) (EXFO) Lower (more...)
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
- KeyBanc Downgrades Pepco Holdings (POM) to Sector Weight
- Cowen Raises Price target on Constellation Brands (STZ) Following 2Q16 Results
- Pandora (P) to Acquire Ticketfly in $450M 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!