Oppenheimer Starts Yelp (YELP) at Perform, $23 Price Target
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Price: $39.53 +0.61%
Rating Summary:
18 Buy, 23 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 5 | Down: 3 | New: 2
Rating Summary:
18 Buy, 23 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 5 | Down: 3 | New: 2
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Oppenheimer initiates coverage on Yelp (NYSE: YELP) with a Perform rating and $23 price target citing valuation.
The firm comments, "Yelp is a leading internet destination for consumer reviews of local businesses and benefits from a "network effect" as the breadth and depth of content increases, the company adds more members/reviews, which, in turn, creates more value for advertisers. As of 12/31/11, the company had an average of 66M monthly unique visitors in 71 markets (46 in U.S., 25 international), with 25M reviews of local businesses. Yelp generates revenue by selling local and brand advertising placements, transaction fees for “Yelp Deals,” and through other revenue-sharing arrangements."
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 $25.81 yesterday.
The firm comments, "Yelp is a leading internet destination for consumer reviews of local businesses and benefits from a "network effect" as the breadth and depth of content increases, the company adds more members/reviews, which, in turn, creates more value for advertisers. As of 12/31/11, the company had an average of 66M monthly unique visitors in 71 markets (46 in U.S., 25 international), with 25M reviews of local businesses. Yelp generates revenue by selling local and brand advertising placements, transaction fees for “Yelp Deals,” and through other revenue-sharing arrangements."
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 $25.81 yesterday.
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