Needham & Company Comments on Yelp (YELP) Amid Priceline/OpenTable Deal
- Top 10 News for 5/18 - 5/22: Fed Rate Hike Pushed Back; Icahn Calls for More Apple Buybacks; Big Banks Settle FX Probe
- Yellen Says Rate Hike at Some Point This Year 'Appropriate'
- Deere & Co. (DE) Posts Q2 EPS of $2.03; Lowers Equipment Sales Outlook for FY15
- Hewlett-Packard (HPQ) Tops Q2 EPS by 1c; Guides Q3 EPS to Low-Side of Expectations
- Foot Locker (FL) Tops Q1 EPS by 7c
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
- Needham & Company Remains Sidelined Following Hewlett-Packard's (HPQ) F2Q Results
- Tigress Financial Partners Upgrades Walgreens Boosts Alliance (WBA) to Neutral
- NV5 Holdings (NVEE) Prices 1.43M Common Offering at $19.50/Share
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!