Brean Capital maintained a Buy rating and $58.00 price target on Yelp (NYSE: YELP) ahead of 2Q15 results. Analyst Tom Forte expects shares of YELP to be volatile on its first trading day following earnings. YELP is scheduled to report 2Q15 results on July 28th.

Forte commented, "We Are Hopeful Regarding Yelp’s 2Q15 Performance. Yelp operates the largest crowd-sourced local business directory globally, with 77MM cumulative reviews (since its 2004-launch) and an audience of 142MM monthly users (as of 1Q15). The company will be reporting 2Q15 earnings on Tuesday, July 28th at 4:30 PM ET. As we noted in our report from July 6th (YELP: For Sale Or Not, Recommend Purchase of Shares – Part 2) we believe that reports speculating Yelp’s
management has at least temporarily discontinued its efforts to find a buyer are a positive indicator on near-term trends. That said, we expect shares of YELP to be volatile on its first trading day following earnings, using history as a guide (the average up/down move is 15.6% with shares moving up/down more than ten percent 77% of the time and up/down more than twenty percent 31% of the time) and when considering we believe there are a lot of investors in the stock right now because of the potential of a sale. We reiterate our Buy rating and 12-month price target of $58, which is based on our discounted cash flow analysis that assumes Yelp is able to achieve long-term adjusted EBITDA margin of 34.0%, compared with 18.8% in 2014."

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 $34.55 yesterday.