Internet Stocks Moving Downward: Yelp Inc(NYSE:YELP), eBay Inc(NASDAQ:EBAY)


Yelp Inc(NYSE:YELP)’s $60 level on the daily chart was a key one for support. With shares now well below that level, there could be further price weakness to come. The break at $60 confirms major topping action most clearly visible on a multi-year basis. At the current price of $56.37, next support is at $54.01. Resistance is at $57.32, the opening price of the day.

Analysts have a consensus price target of $88.24 on Yelp Inc(NYSE:YELP) which indicates a 29% upside. The consensus rating of the stock is a BUY with a score of 2.66. There are currently 10 Hold Ratings and 19 Buy ratings on the stock.

A recent analyst action consisted of Citigroup upgrading the stock from Neutral to Buy on April 16th.

Shares of e-commerce company eBay (EBAY) are falling after the company’s first quarter results beat estimates, but its second quarter profit view trailed expectations.

This morning, research firm Atlantic Equities downgraded eBay to Neutral from Overweight. JP Morgan lowered its price target on eBay to $61 from $65, but said the company reported “solid” Q1 results despite GMV growth that was “somewhat disappointing.” The firm kept an Overweight rating on the stock.

Analysts have a consensus price target of $62.39 on eBay Inc(NASDAQ:EBAY) which indicates a 14.4% upside. The consensus rating of the stock is a BUY with a score of 2.67. There are currently 11 Hold Ratings, 19 Buy ratings, 2 Strong Buy ratings and 1 Sell rating on the stock.

The most recent analyst action consisted of Zacks reiterating their Neutral rating and $57 price target.

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1 Comment

  1. YELP will never make a profit. Ten Years-NO EARNINGS. Every small businessman HATES YELP with a passion. Search Google “yelp scam”, “yelp extortion” , “yelp mafia” and see over three million results. Any small business man with a smartphone recognizes mafia tactics when YELP calls. jeremy stoppelman is a master lair and con-man. He sells his yelp stock as soon as he can because it is worthless. Wake up! GET OUT OF THE STOCK NOW!

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