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In a report released today, Jason Helfstein from Oppenheimer maintained a Hold rating on Yelp Inc (NYSE: YELP). The company’s shares closed on Friday at $49.35, close to its 52-week high of $51.33.
Helfstein said:
“We are maintaining our Perform rating as we continue to question the long-term viability of the Yelp platform. Second-quarter 2018 results were driven by strong paying ad accounts (PAA) growth, fueled by non-term contracts transition. PAA +31% y/y; however, mobile web UV and app unique devices growth slowed. Mgmt claims that non-term contracts are requiring more sales force, reiterating high-teen headcount growth (+22% y/y in 2Q), and is likely reason for not increasing FY margin. Monthly revenue per advertiser -8% y/y due to trial purchase promotion. Increasing ’18E EBITDA on estimates for ’18 and ’19 PAA growth, yet waiting to see growth sustainability after this wave of non-term contracts adoption.”
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 20.4% and a 66.1% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and IAC/InterActiveCorp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Yelp Inc with a $50.09 average price target, which is a 1.5% upside from current levels. In a report issued on August 9, Stifel Nicolaus also maintained a Hold rating on the stock with a $42 price target.
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Based on Yelp Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $10.7 million. In comparison, last year the company had a net profit of $7.59 million.
Based on the recent corporate insider activity of 116 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of YELP in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
