Fri, Sep. 23, 3:11 PM
- Yelp (NYSE:YELP) today announced the conversion of its Class A and B shares into a single class of stock, though its moves today (now up 2.6%) are being attributed to Twitter's M&A rumor-fueled 20% jump.
- Yelp has spurned big suitors so far though it's rumored to have drawn interest (at various times) from Priceline, Yahoo, Google, and Facebook, as well as TripAdvisor or Expedia.
- The company had reportedly hired banks in spring 2015 to find a buyer.
- The share-class conversion took effect at 5 p.m. ET yesterday, and had no economic effect but elmiinated the different voting powers. The conversion was automatic as outstanding class B stock represented laess than 10% of outstanding shares.
- All shares are now entitled to one vote per share.
Mon, Sep. 19, 8:05 AM
- Yelp (NYSE:YELP) is warning that a California lawsuit targeting critical posts about a law firm could lead to the removal of negative reviews and leave consumers with a skewed assessment of restaurants and other businesses.
- Though its impact is in dispute, the case is getting attention from some of the biggest Internet companies in the world, which say a ruling against Yelp could stifle free speech online.
Tue, Sep. 13, 8:28 AM| Tue, Sep. 13, 8:28 AM | 3 Comments
Wed, Aug. 10, 3:00 PM
Wed, Aug. 10, 12:47 PM
Wed, Aug. 10, 9:17 AM| Wed, Aug. 10, 9:17 AM | 4 Comments
Tue, Aug. 9, 5:35 PM
Tue, Aug. 9, 4:57 PM
- After busting a new 52-week high during market hours, Yelp (YELP +3%) is up 10.5% after hours following a Q2 earnings beat that featured upbeat guidance for the out quarter and a raised outlook for the full year.
- Local revenue grew 41% to $151.9M; Transactions revenue gained 37% to $15.5M. (Other revenue of $6M was down 6%).
- In operations: Cumulative reviews grew 30% Y/Y to about 108M. App unique devices were up 27% to about 23M on monthly average basis, and local ad accounts grew 32% to about 128,000.
- For Q3 Yelp expects revenue of $180M-$184M (27% growth at the midpoint, and above consensus for $179.6M), and adjusted EBITDA of $24M-$28M (vs. consensus for $28.2M).
- It's raising its full-year outlook, forecasting revenue of $700M-$708M (28% growth at midpoint, and vs. consensus for $699.7M) and EBITDA of $100M-$108M (vs. $99.8M expected).
- Press Release
Tue, Aug. 9, 4:09 PM
Mon, Aug. 8, 5:35 PM
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Wed, Jul. 20, 12:16 PM
- Yelp (NYSE:YELP) has turned higher, up 1.7%, after opening low following a downgrade at Citigroup.
- The firm bumped its price target, though, to $31 from $27, implying 6% upside from yesterday's closing. Shares have doubled up from February's 52-week low of $14.53.
- That's despite no change to consensus forecasts, notes Citi's Mark May, which means Yelp's now more in line with comps. Meanwhile, management has downplayed positive growth in ad revenues (making surprises less likely), and user mobile and transaction revenue growth slowed more than expected.
- Earnings also face a risk so long as margins stay under pressure: Company expectations "assume a significant increase in margins/leverage in 2H16."
Wed, Jul. 13, 11:57 AM
- While the Street has reasonable expectations for H2 of this year, too high of a bar has been set for 2017 and 2018, say analyst Peter Stabler and team, downgrading Yelp (YELP -3.9%) to Underperform from Market Perform. The price target range is trimmed by $1 at both ends to $21-$23 (current price is $29).
- They take note of increasing competition and challenges associated with the CPC (cost-per-click) migration. By Stabler and team's figuring, Yelp needs to serve between 2x and 10x as many impressions to generate the same level of ad revenue vs. CPM packages.
Thu, Jun. 30, 8:22 AM
- MKM Partners raises Yelp (NYSE:YELP) to Buy from Neutral with a $40 price target.
- Analyst Rob Sanderson believes the company trades at a discount to its peers and a rebound in sales productivity will drive momentum in revenue growth.
- YELP +4.1% premarket
Tue, Jun. 21, 7:51 AM
Mon, Jun. 20, 7:11 AM
- Deutsche Bank raises Yelp (NYSE:YELP) shares to Buy from Hold, while increasing its price target on the stock to $33 from $26.
- The firm cites "stabilized salesforce productivity, more confidence in management, and improvements in ad units and systems bolstering our long-term outlook."
- YELP +2.2% premarket
Tue, May 24, 2:37 PM
- In an overhaul of the company's core AdWords search ad service (easily the company's biggest profit engine), Google (GOOG +2.1%) is expanding the amount of text that can respectively be shown in ad headlines and descriptions to 30 and 80 characters from 25 and 35, and set bids for ad prices based on device type (PCs, phones, and tablets).
- The company is also launching an ad solution for the 2M+ sites/apps on its display ad network that automatically adapts to the kind of content being shown, and giving advertisers access to cross-exchange inventory (increases the number of sites/apps they can reach).
- Google argues support for longer ad headlines and descriptions is helpful on mobile, where consumers "[want] to know exactly what you offer before tapping into your website." Tests showed an increase of up to 20% in click-through rates.
- Meanwhile, in a fresh attempt to get more of the local ad dollars moving to online channels, Google is launching local search ad options for Google Search and Maps that let advertisers prominently show their business locations. It's also testing Promoted Pins, which allow a business' logo to appear within Google Maps, and giving local businesses the ability to showcase special offers and inventory on their pages.
- The local ad efforts represent additional competition for Yelp (YELP +2%), which is going after the same ad dollars. Google notes nearly 1/3 of all mobile searches are location-related, and that location-related searches are growing 50% faster than mobile searches in general. Over half of Google's total searches are now via mobile devices.
- Now read Google: Instant Apps Technology A Game Changer