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Oppenheimer analyst Jason Helfstein maintained a Hold rating on Yelp Inc (YELP) yesterday. The company’s shares closed yesterday at $38.19.
Helfstein commented:
“Maintain Perform rating as YELP has yet to prove the company can scale a local advertising model. Mgmt efforts in 2019 will focus on pushing self-service offering and reducing churn via CPC rate reduction. Net result is to drive margin on smaller, more efficient revenue mix. 2019 revenue guided +9% y/y vs. PF +18% in ’18, with 1Q:19 expected +5% y/y. If these initiatives fail to drive revenue growth by 4Q:19, we would expect more dramatic moves toward partnerships, similar to the “very successful” GRUB relationship. Specifically, we don’t understand why mgmt does not pursue a home-services deal with ANGI or Porch. Announced $250M repurchase authorization. We view 10x ’19E EBITDA as fair value for a mature, sub-scale Internet platform that faces competition from transaction-oriented vertical marketplaces.”
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 17.6% and a 63.1% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and Spotify Technology SA.
Currently, the analyst consensus on Yelp Inc is a Hold with an average price target of $40.43, representing a 5.9% upside. In a report issued on February 13, Citigroup also downgraded the stock to Hold with a $40 price target.
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The company has a one-year high of $52.50 and a one-year low of $29.33. Currently, Yelp Inc has an average volume of 2.5M.
Based on the recent corporate insider activity of 114 insiders, corporate insider sentiment is negative on the stock.
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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.
