Needham & Company Comments on Yelp (YELP) Amid Priceline/OpenTable Deal
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
- SS&C Technologies (SSNC) PT Raised to $76 at Needham & Company
- MKM Partners Downgrades Yelp (YELP) to Neutral
- JMP Securities Downgrades Yelp (YELP) to Market Perform
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!