“We are maintaining our Perform rating after YELP reported lower than expected 3Q results and guided down 4Q. 3Q softness was driven by flattish PAA q/q as PAA growth slowed to +25% y/y from 31% in 2Q. Moreover, company is struggling to successfully contact business decision makers, while seeing higher churn with mix shift to non-term. Company indicated it will slow its headcount growth to focus more on self-serve and go-to-market strategy. App Unique Devices slowed to 13% y/y, from 17% in 1Q. Monthly revenue per advertiser -7% y/y due to trial purchase promotion. Lowering ’18E EBITDA on lower PAA and revenue growth, yet waiting to see better execution through in-term transition.”
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 15.7% and a 60.5% 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 Strong Buy analyst consensus rating for Yelp Inc with a $62 average price target.
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 $7.95 million.
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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.