Yelp Inc (NYSE:YELP) is announcing the launch of a new developer program to meet increasing demand for local data and content for mobile apps, platforms, products and services. Yelp Fusion includes access to much broader content and sophisticated search tools for developers and partners and a new initiative to integrate the Yelp Fusion API into developer curriculum and education.
Yelp now gives developers more photos at a much higher quality as well as more review content and the ability to easily feature restaurants that offer food ordering for delivery. Helpful attributes like hours of operation and pricing are now also available in the Yelp Fusion API for the first time.
“As devices and services are increasingly expected to be locally aware, Yelp content is more important than ever. We are delighted at the amazing array of independent developers, startups and industry leaders who want to integrate Yelp content,” said Chad Richard, SVP Business & Corporate Development at Yelp. “We have had over 1,000 developers involved in the Yelp Fusion public beta program. We can’t wait to see these new experiences roll out.”
Since launching Yelp’s first public API in 2007, tens of thousands of developers have built Yelp data and search into their applications. Yelp content has been used by thousands of startups and some of the largest companies in the world, including Apple, Twitter, Microsoft, BMW, and Mercedes-Benz, for a broad array of products including augmented reality devices, in-car navigation, artificial intelligence, virtual assistants, transit, navigation, messaging, data visualization, local search, and even robotics.
Some of the companies announcing Yelp Fusion integrations today and in the coming weeks include SoundHound Inc.’s Hound and Houndify, Logitech’s ZeroTouch, Graphiq, Blippar, Bar Roulette, SoftBank’s Pepper robot, Thingthing, INRIX OpenCar, Coffee Meets Bagel, Eniro, Hiya, iValu8’s VivaSpot Wi-Fi, and Local Motors and IBM with the smart shuttle Olli.
“We know that picking the perfect first date spot is important, but challenging,” said Dawoon Kang, co-founder of Coffee Meets Bagel. “We immediately thought of working with Yelp because there is no other service that has such an extensive and nuanced understanding of local businesses. With the Yelp Fusion API we are able to query Yelp’s database by rating, price, and business attributes like atmosphere and noise level and return the right recommendations for Coffee Meets Bagel singles, which is exciting.”
“Logitech takes pride in bringing cool, new experiences to our customers, so we’re excited to work with a company like Yelp that shares those same values,” said Patric Frank, Head of New Ventures at Logitech. “Through Yelp’s new developer program, we’ve integrated the Yelp Fusion API into Logitech ZeroTouch in a way that fuses in-car navigation with quality local content, so people can drive safer and still use Yelp.”
In addition to technical improvements in Yelp’s API, the new Yelp Fusion developer program also focuses on greater support to developers both in the implementation phase and through education. As an example of this, Yelp is partnering with General Assembly to teach up-and-coming software developers how to integrate content and data sources from the Yelp Fusion API as part of their curriculum. (Original Source)
Shares of Yelp are currently trading at $37.39, up $0.13 or 0.35%. YELP has a 1-year high of $39.96 and a 1-year low of $14.53. The stock’s 50-day moving average is $36.70 and its 200-day moving average is $27.75.
On the ratings front, Yelp has been the subject of a number of recent research reports. In a report issued on September 14, Mizuho analyst Neil Doshi reiterated a Buy rating on YELP, with a price target of $42, which implies an upside of 13% from current levels. Separately, on September 12, Jefferies’ Brian Pitz reiterated a Buy rating on the stock and has a price target of $42.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Neil Doshi and Brian Pitz have a total average return of 12.7% and 9.8% respectively. Doshi has a success rate of 68% and is ranked #210 out of 4166 analysts, while Pitz has a success rate of 69% and is ranked #37.
Overall, 3 research analysts have rated the stock with a Sell rating, 10 research analysts have assigned a Hold rating and 11 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $39.17 which is 5% above where the stock closed yesterday.
Yelp, Inc. hosts an online database of user-generated reviews of local businesses. It provides reviews on local businesses, which include restaurants, boutiques and salons, dentists, mechanics and plumbers. The company provides multiple free and paid advertising solutions to engage with consumers, including free online business accounts, search advertising and Yelp Deals.