Yelp Inc (NYSE:YELP)’s stock grew after the company posted a GAAP net loss of $0.04 per share, halved from the prievious year loss of $0.08. By comparison, analysts at Capital IQ expected EPS of $0.07. Revenue went up by 66% to $76.4 million, higher than the consensus of $75.0 million.
For the second quarter, YELP forecasts revenue in the range between $85 million and $86 million and adjusted EBITDA – between $11 million and $12 million, versus analyst estimates of $85 million and $13 million respectively.
For fiscal year 2014, the company’s outlook revenue in the range between $363 million and $367 million, while the adjusted EBITDA stands in the range between $56 million and $60 million, while analyst estimates for revenue amount to $358 million and EBITDA to $58 million.
Moreover, analysts have a consensus price target of $88.24 on Yelp Inc (NYSE:YELP), which indicates a 51% premium. The consensus rating for the stock is BUY with a score of 2.69. There are currently 10 Hold Ratings and 19 Buy ratings on the stock. The most recent analyst action consisted of RBC Capital upgrading the stock today to Outperform.
In another development, Fuel Tech Inc. (NASDAQ:FTEK) shares gained ground in late trading after the developer of air pollution control technologies said it has acquired two privately held companies for $8.25 million in cash. Fuel Tech acquired Cleveland Roll Forming Environmental Division Inc. (PECO) for $7.25 million, and FGC Corporation (FGC) for $1.0 million, as a regulatory filing showed on Wednesday. Both are companies engaged in air pollution control technology.
The transactions closed earlier. Fuel Tech said these acquisitions “are expected to be immediately accretive” to the Warrenville, Illinois-based company.
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