Yelp (YELP) Looking Better Following Regulatory Victory and and New Search Tool - Wunderlich

Wunderlich Securities analyst Blake Harper reiterated a Buy rating and $90 price target on Yelp (NYSE: YELP) saying the company is now looking better after receiving a legal and a regulatory victory in the past two days and introduced a new search tool for restaurant reservations and takeout/delivery food, which it will expand into other verticals.

Harper commented, "We expect the latter to improve the user experience and potential ad targeting, while the European action against Google (GOOGL-NR) should help Yelp's SEO traffic, which was affected negatively last year. Yelp is set to post high-single-digit sequential growth in unique visitors in Q1 according to Quantcast data, which counters the sequential decline in Q4. We expect the company to report in line to better than expected results on April 29 and recent developments on the legal, regulatory front, as well as enhanced search capabilities, should be positive for the outlook."

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 $49.37 yesterday.

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