- Credit Suisse analyst Stephen Ju raised the price target on Yelp Inc (NYSE:YELP) to $53 from $43, implying a 42.5% upside, and reiterated an Outperform rating following the Q2 results.
- Yelp’s Q2 sales of $257 million, up 52% year-on-year, beating the analyst consensus of $245.6 million.
- EPS of $0.05 beat the analyst consensus loss of $(0.09). The board authorized a $250 million increase to the stock buyback plan.
- Yelp raised FY21 sales guidance from $1 billion-$1.02 billion $1.01 billion-$1.03 billion against the analyst consensus of $1.01 billion.
- One key takeaway was the 87% increase in ad clicks along with a 20% decline in CPC, which was a combination of easy year-over-year comparisons but also due to benefits derived from previous investments in its ad products, Ju notes.
- Credit Suisse raised the price target from $30 to $31, implying a 16.7% downside, and affirmed an Underweight rating.
- Price action: YELP shares traded higher by 6.42% at $39.56 on the last check Friday.
Yelp Shares Gain As Analysts Remain Divided Following Q2 Earnings Beat
Credit Suisse analyst Stephen Ju raised the price target on Yelp Inc (NYSE:YELP) to $53 from $43, implying a 42.5% upside, and reiterated an…
