Yelp Inc (NYSE:YELP), the company that connects consumers with great local businesses, announced it has surpassed 100 million cumulative reviews contributed since inception. This milestone will be celebrated by the passionate Yelp community spanning more than 30 countries across five continents and, thanks to Yelp’s mobile translation feature, in 18 different languages.
“For nearly twelve years, consumers have been coming to Yelp to find great local businesses,” said Jeremy Stoppelman, Co-Founder and CEO of Yelp. “We attribute much of our success to the passionate Yelp communities around the globe. These folks meet both on and offline, and share their opinions on Yelp, helping others in their communities make informed spending decisions.”
The first Yelp review written on mobile was made on 12/20/10 by Chad S in Iowa City, IA. In Q4 2015, Yelpers contributed a mobile review every 2.5 seconds. Also, 70% of searches on Yelp came from mobile devices across the globe and more than 56% of Yelp content (reviews and photos) was generated on mobile devices. Yelp also saw 86 million** average monthly mobile unique visitors in Q4 2015. From 2014 to 2015, there was a 66% increase in the number of reviews submitted via mobile. By 2015, more than 1.5 million businesses had more than 50% of their reviews coming in from mobile.
Celebrating the Yelp Community
The first Yelp review was contributed by Jon B. in October of 2004 forKabuki Springs & Spa in San Francisco, CA. Nearly twelve years later, the 100 millionth Yelp review was contributed by Yelp Elite Evelyn K. forCrocheron Park, a public park in Bayside, NY. Throughout the life of Yelp, thriving communities have been established in more than 120 cities around the globe, but few Yelpers are more prolific than Shila B., a Yelp Elite in Vancouver, Canada who has written more than 8,000 reviews to date. In total, Yelpers have written roughly 10 billion words, which would take one person 146 years to read aloud. Yelpers have crowned Bottega Louie, a restaurant and bakery in Los Angeles, California the most popular and most photogenic, contributing more than 12,000 reviews and 17,000 photos to the business’ page.
Helping Small Businesses Win
Of the 100 million reviews on Yelp, approximately 80% are 3 stars or higher, which means the majority of people come to Yelp to share good to great experiences with local businesses. In fact, the 2,371 businesses on Yelp with more than 1,000 reviews have an average rating of 4 stars. In our time, we’ve found that Yelp works best when both consumers and business owners are engaged. Kudos to Get Your Move On in Phoenix, Arizona for being the most responsive business on Yelp, responding publicly or privately to 100% of reviews! Beyond free response tools, Yelp offers small businesses many ways to connect with consumers, including through Yelp Eat24 and Yelp SeatMe. To date, 109 million people have been seated by Yelp SeatMe, and users have ordered nearly 12 million pizzas through Yelp Eat24. (Original Source)
Shares of Yelp Inc. closed yesterday at $20.89, up $0.26 or 1.26%. YELP has a 1-year high of $52.51 and a 1-year low of $14.53. The stock’s 50-day moving average is $19.42 and its 200-day moving average is $23.80.
On the ratings front, Yelp has been the subject of a number of recent research reports. In a report issued on March 9, UBS analyst Eric Sheridan downgraded YELP to Sell, with a price target of $17, which implies a downside of 18.6% from current levels. Separately, on February 9, Axiom’s Victor Anthony reiterated a Hold rating on the stock and has a price target of $18.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Eric Sheridan and Victor Anthony have a total average return of 8.5% and 9.8% respectively. Sheridan has a success rate of 58.2% and is ranked #268 out of 3726 analysts, while Anthony has a success rate of 56.3% and is ranked #135.
The street is mostly Neutral on YELP stock. Out of 18 analysts who cover the stock, 9 suggest a Hold rating , 7 suggest a Buy and 2 recommend to Sell the stock. The 12-month average price target assigned to the stock is $22.18, which implies an upside of 6.2% from current levels.
Yelp Inc operates local search website that connects people with local businesses. The Company provides local advertising, brand advertising, and other services.