Yelp (YELP) Remains Well Positioned, Stock Remains at Premium

May 2, 2013 9:37 AM EDT
Get Alerts YELP Hot Sheet
Price: $41.53 +1.14%

Rating Summary:
    20 Buy, 22 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Goldman Sachs today maintained a Neutral rating on Yelp (NYSE: YELP) and raised its price target to $32.00 (from $30.00). Yelp reported better than expected results late on Wednesday, which sent shares higher. Analyst Heath P. Terry noted the company's recent success but remains sidelined given the stock's premium.

"Active local business growth was 5k accounts, above our 3.7k estimate, due in part to growth in home services and international. Yelp remains extremely well positioned to benefit from growth in mobile usage and local ad dollars shifting online and has shown significant progress in improving monetization of its large base of users and traffic. That said, we believe the stock's premium multiple already reflects a high degree of success, therefore we remain Neutral rated," said Terry.

For an analyst ratings summary and ratings history on Yelp (NYSE: YELP) click here. For more ratings news on Yelp click here.

Shares of Yelp closed at $25.30 yesterday.

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