Yelp (YELP): Paid Ads Strong Exiting Q1 - Macquarie

Macquarie analyst, Tom White, reiterated his Outperform rating on shares of Yelp (NYSE: YELP) after updated Yelp.com ad coverage analysis suggests strong Local Ad revenue trends exiting 1Q, w/88% of the analyst's test queries resulting in at least one paid ad placement. This is up sharply from the 45% in Nov. and 55% in Aug.

National advertisers accounted for ~20% of YELP Local revenues last yr (~$127mm), but a far lower percentage of Local Ad Accounts. No change to the price target of $47.

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 $34.58 yesterday.

You May Also Be Interested In

• Mizuho Reiterates Outperform Rating on Broadcom Limited (AVGO) Into EPS
• Beike (BEKE) PT Raised to $23 at Morgan Stanley
• Benchmark Reiterates Buy Rating on Rank One Computing (ROC)