Wunderlich Securities reiterated a Buy rating on Yelp (NYSE: YELP) with a price target of $105.00.

Analyst Blake T. Harper said, " Yelp, Inc. (YELP) reported solid results that were essentially in line with the consensus and raised FY14 guidance revenues and EBITDA by 3% and 4%, respectively, at the midpoint. The company continued to execute well, adding 7k new local business customers, in line with our 74k total estimate, while also growing its user base to 132 million monthly uniques and mobile ads growing to 49% of the total. A lack of EBITDA leverage in the first half of the year and stalled international revenue growth in Q1 were drawbacks, but we believe they are more than offset by the advertiser and user counts and revenue growth in Q1, as well as the raised revenue and EBITDA for FY14. We maintain our Buy rating and $105 price target, which is 10x EV/S on a 45% 3-year revenue CAGR."

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 $58.32 yesterday.