Yelp (YELP) Buy Rating Reiterated at Deutsche Bank
Deutsche Bank maintained a Buy rating on Yelp (NYSE: YELP) with a price target of $74.00.
Analyst Lloyd Walmsley said, "The continued drubbing of high growth Internet stocks this earnings period leaves us beaten down and unsure of when the de-risking cycle ends or what will end it. That said, Yelp's 1Q earnings report confirms our fundamental thesis that improving attribution (closing the loop) and mobile can drive better customer acquisition/retention and user engagement. Traffic growth remains on a tear, mobile usage continues to charge ahead, cohort data remains strong, and call-to-action / Yelp Platform products continue to gain traction. If de-risking continues we see Yelp as an asset many companies would love to own. When sentiment turns, Yelp is among our top picks. Buy."
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.