Yelp Inc (NYSE:YELP), the company that connects consumers with great local businesses, announced the launch of Yelp Philippines (http://www.yelp.com.ph).
Beginning today, people across the Philippines are able to read reviews about great local businesses and create accounts on Yelp.com.ph to share their opinions. Yelp’s free iPhone and Android apps will be available as well as its free suite of business owner tools: Yelp for Business Owners (http://biz.yelp.com.ph).
The Philippines is home to 100 million people, 7,107 islands, 23 active volcanoes, a six-inch primate, and countless Jeepneys and it is the 32nd international market to join the Yelp community. Yelp in the Philippines is available in both English and Filipino, the 18th language available on Yelp.
The Philippines is one of the most modern countries in Asia and the sixth largest English-speaking nation in the world, with English widely spoken as a second language. It is also culturally diverse and internet savvy, with Filipinos sending more than 1 billion text messages per day.
Dedication to food is another trait common to Filipino culture. Whether you prefer budget bites at carenderias or turo-turos or a full-fledged fiesta feast with lechon, caldereta (or even the local version of spaghetti), you’ll always find the country’s wide mix of influences come together beautifully in the cuisine. As if you needed more enticement, the country’s hospitality means you’re always sure to be welcomed with a big smile wherever you go.
“Filipinos are so well-connected online and offline that we know they will love using Yelp to find and connect with great local businesses,” says Miriam Warren, Yelp Vice President of New Markets. “We will be working hard to make sure Yelp is the most useful and relevant local resource for every Pinoy.”
Yelp will kick off its community building efforts in Manila – one of the densest cities in the world – and soon bring together Yelpers online and offline to experience the best of Manila. Yelp will also be available across the entire country, so everyone, everywhere in the Philippines with access to the Internet on a desktop computer or a smartphone, now has the ability to share their opinions on what is great (and not-so great) about local businesses in the Philippines.
In a country so hot and humid, consumers can find thousands of ways to stay cool by logging on to Yelp.com.phor downloading Yelp’s mobile app to explore all the Philippines has to offer. Business owners can get in on the action too at biz.yelp.com.ph by claiming their Yelp Business Page for free. (Original Source)
Shares of Yelp Inc. opened today at $46 and are currently trading down at $45.53. YELP has a 1-year high of $86.88 and a 1-year low of $37.91. The stock’s 50-day moving average is $45.99 and its 200-day moving average is $48.68.
On the ratings front, Yelp Inc. has been the subject of a number of recent research reports. In a report issued on June 4, Piper Jaffray analyst Gene Munster reiterated a Hold rating on YELP, with a price target of $46, which represents a slight downside potential from current levels. Separately, on June 1, Cowen’s Kevin Kopelman reiterated a Buy rating on the stock and has a price target of $55.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Gene Munster and Kevin Kopelman have a total average return of 26.9% and 19.4% respectively. Munster has a success rate of 71.8% and is ranked #2 out of 3640 analysts, while Kopelman has a success rate of 76.2% and is ranked #650.
In total, one research analyst has rated the stock with a Sell rating, 8 research analysts have assigned a Hold rating and 12 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 $55.69 which is 21.1% above where the stock opened today.
Yelp Inc operates local search website that connects people with local businesses. The Company provides local advertising, brand advertising, and other services.