Yelp (YELP) PT, Estimates Lifted at Wunderlich on Yahoo, YP Deals
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Price: $22.35 --0%
Rating Summary:
17 Buy, 24 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 64
Rating Summary:
17 Buy, 24 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 64
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Wunderlich Securities analyst Blake Harper reiterated a Buy rating on Yelp (NYSE: YELP), boosted estimates and and boosted his price target from $90 to $105 on Yahoo, YP deals.
Harper commented, "We are raising our estimates and price target on Yelp, Inc. (YELP) to $105 from $90 to account for its strategic deal with YP and its recent integration into Yahoo, Inc.'s (YHOO-NR) local search results. We expect Yelp to increase its sales productivity and reach by being able to utilize YP's 4,000 strong sales force (4x the size of Yelp's), its 575,000 local business advertisers and its mobile ad network. The Yahoo integration should also expand the reach of Yelp's content to a portion of Yelp's 800 million users (half of them mobile), with 25% of Yahoo's searches for local content. In addition, the company upgraded its business page interface that should better distill the essence of the business and has posted strong traffic growth with 134 million monthly unique visitors."
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 $77.30 yesterday.
Harper commented, "We are raising our estimates and price target on Yelp, Inc. (YELP) to $105 from $90 to account for its strategic deal with YP and its recent integration into Yahoo, Inc.'s (YHOO-NR) local search results. We expect Yelp to increase its sales productivity and reach by being able to utilize YP's 4,000 strong sales force (4x the size of Yelp's), its 575,000 local business advertisers and its mobile ad network. The Yahoo integration should also expand the reach of Yelp's content to a portion of Yelp's 800 million users (half of them mobile), with 25% of Yahoo's searches for local content. In addition, the company upgraded its business page interface that should better distill the essence of the business and has posted strong traffic growth with 134 million monthly unique visitors."
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 $77.30 yesterday.
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