Cantor Maintains Buy On Yelp On The Back Of Strong Quarter/Mixed 4Q Guidance
In a research report issued to investors today, Cantor analyst Youssef Squali maintained a Buy rating on Yelp Inc. (NYSE:YELP) and slightly reduced his price target to $83 (from $84), following the company’s third-quarter earnings.
Squali said, “Local ad revenue saw strong growth again, driven by local business additions and pricing. Better-than-expected performance of the YP partnership also contributed to the out-performance, more than offsetting the hit to international traffic from Google Panda changes. The local online ad opportunity remains massive, and the number of players with scale, brand, network effect and solid execution is very limited, positioning Yelp as a prime beneficiary over time.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Youssef Squali has a total average return of 28.9% and a 70.5% success rate. Squali has a 86.7% average return when recommending YELP, and is ranked #2 out of 3339 analysts.