Needham & Company Comments on Yelp (YELP) Amid Priceline/OpenTable Deal
- Top 10 News for 7/25 - 7/29: Earnings and Mergers and ... Chioptle Making Burgers?
- Tech shares and muted GDP growth push S&P 500 to record
- No clean bill of health for EU banks in stress test
- Private equity firms focused on Hewlett Packard asset sales: sources
- Tesla (TSLA) Gains as Panasonic Seeks to Raise $3.9B for Gigafactory
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
- Cypress Semi (CY) PT Raised to $14 at Needham & Company on GM Expansion and Take-out Multiple
- Imperial Capital Downgrades Stericycle (SRCL) to Underperform
- Alphabet (GOOG) (GOOGL) PT Raised to $900 at Needham & Company
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!