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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