Rosenblatt said Yelp’s recent weakness is a buying opportunity and has returned to a positive stance ahead of earnings. The firm expects Q1 revenues at the high end of $73.5M-$74.5M guidance and believes a spike in low end smartphones in emerging markets will be the highlight.
In a note to investors on April 14, research firm Pacific Crest reported that more consumers were utilizing Yelps reviews of businesses other than restaurants. Non-restaurant businesses are the primary source of growth for Yelp, added the firm, which kept a $115 price target and Outperform rating on the stock.
Analysts have a consensus price target of $87.24 on Yelp Inc (NYSE:YELP) which indicates a 49% upside. The consensus rating of the stock is a BUY with a score of 2.66. There are currently 12 Hold Ratings and 19 Buy ratings on the stock.
A recent analyst action consisted of Citi upgrading the stock from Neutral to Buy.
Yelp has a 50 day moving average of $73 and a 200 day moving average of $74. The current quarter EPS consensus estimate is $ -.04.
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