Seeking Alpha

Yelp rallies following Jefferies PT hike

  • Jefferies has raised its Yelp (YELP +3.5%) PT to $80 from $50. The firm asserts Yelp's "breadth, depth and penetration of content is very hard to replicate," and remains the company's "core competitive advantage."
  • Concerns about intensified competition from Facebook and Google has pressured Yelp's shares more than once. But as the company's Q3 metrics demonstrate - cumulative reviews, monthly visitors, and active local business accounts respectively rose 42%, 41%, and 61% Y/Y - it hasn't done much damage yet to Yelp's local reviews dominance.
  • Like many other Internet names, Yelp has sold off a bit from its October highs. But shares remain up 246% YTD.
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