Susquehanna Remains Sidelined on Yelp (YELP) Following Solid 4Q Results

August 10, 2016 6:59 AM EDT
Get Alerts YELP Hot Sheet
Price: $40.92 --0%

Rating Summary:
    20 Buy, 22 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 24 | New: 12
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Susquehanna reiterated a Neutral rating on Yelp (NYSE: YELP), and raised the price target to $35.00 (from $22.00), following the company's 2Q earnings report. Revenue was 2% above consensus, driven by higher local advertising, while transaction revenue came in slightly lower than consensus expectations. EPS of $0.16 was $0.01 ahead of consensus.

Analyst Shyam Patil commented, "Our thoughts going forward and upcoming catalysts. Yelp posted solid headline numbers and flowed the beat through, though the traffic numbers were somewhat softer with desktop uniques declining and mobile continuing to decelerate. We’re remaining on the sidelines as we’d like to see sustained execution on the top- and bottom-line as well as improvement in the underlying traffic metrics."

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 $32.64 yesterday.

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