Oct. 23, 2014, 9:10 AM
Oct. 22, 2014, 6:04 PM
- While YELP doesn't provide an explanation in its earnings release for its soft Q4 guidance (revenue expected to be $3M-$4M below consensus), its traffic data arguably helps explain the shortfall.
- Average monthly unique visitors rose 19% Y/Y in Q3 to 139M, a slowdown in growth from Q2's 27% and Q1's 30%. Moreover, monthly uniques only rose by 1M Q/Q. Mobile monthly uniques rose 46% Y/Y to 73M, after growing 51% in Q2.
- Active local business accounts (a concern going in) were fairly healthy: They rose 51% Y/Y to 86.2K, after growing 55% in Q2. Accounts rose by 7.3K Q/Q. Cumulative reviews rose 41% to 67M; 44% growth was seen in Q2.
- GAAP sales/marketing spend rose 60% Y/Y to $54.5M (53% of revenue), a pickup in growth from Q2's 55%. Total costs/expenses rose 55% to $97.9M.
- In spite of the light revenue guidance, Yelp has upped its full-year adjusted EBITDA guidance to $69.5M-$70.5M from $67M-$69M.
- Q3 results/guidance, PR
Oct. 22, 2014, 5:39 PM
Oct. 22, 2014, 4:10 PM
Oct. 15, 2014, 4:45 PM
- Internet stocks are selling off in AH trading as Netflix craters in response to its light Q3 subscriber adds and disappointing Q4 guidance, and eBay slumps after providing weak Q4 guidance and reporting only 6% Y/Y Q3 Marketplaces growth.
- Google (NASDAQ:GOOG) -1.6% AH. Facebook (NASDAQ:FB) -1.5%. Amazon (AMZN - taking share from eBay) -2.8%. Twitter (NYSE:TWTR) -1.9%. LinkedIn (NYSE:LNKD) -4.2%. YELP -1.4%.
- Internet ETFs: FDN, PNQI, SOCL
Sep. 22, 2014, 1:45 PM
- High-beta tech stocks are selling off hard as the Nasdaq registers a 1.3% decline. The selling is broad-based, with Internet, solar, and enterprise tech stocks all well-represented among the ranks of major decliners.
- Major Internet decliners: BIDU -4.7%. ANGI -7%. YELP -5.9%. AWAY -5.1%. CHGG -5.9%. GRUB -5.8%. P -5.2%. Z -4.6%. TRLA -4.8%. ATHM -7.9%. BITA -7%. DANG -5.9%. WB -5.3%.
- Solar: FSLR -4.5%. SCTY -7.5%. SPWR -4.5%. DQ -7.6%. JKS -5.5%. ASTI -6.3%. ENPH -5.5%. CSIQ -4.8%.
- Enterprise: WDAY -5.4%. GIMO -6.7%. VMEM -7.7%. IMPV -4.8%. MKTO -4.9%. SPRT -5.1%. CSOD -5.5%.
- Others: HIMX -4.6%. SIGM -5.6%. WATT -9.7%. CYNI -5.3%. ADNC -5.7%. PXLW -5%. SWIR -5.8%. MITK -6%. OCLR -6%.
Aug. 13, 2014, 2:18 PM
- Pandora (P +10.2%) CFO Mike Herring presented today at conferences hosted by Oppenheimer and Canaccord. Along the way, he declared his company refuses to comment on M&A rumors.
- Yelp (YELP +6.8%), which had CFO Rob Krolik present at the Oppenheimer conference, is also up sharply.
- Stifel started both Pandora and Yelp at Buy today, along with several other Internet names posting far more moderate gains. 10.5% of Pandora's float was shorted as of July 31, and 14% of Yelp's float was shorted.
Jul. 31, 2014, 9:11 AM| Jul. 31, 2014, 9:11 AM | 4 Comments
Jul. 30, 2014, 7:06 PM
- Up sharply at first in response to its Q2 beat and solid top-line/EBITDA guidance, YELP is now down 0.6% AH.
- The apparent culprit: Active local business accounts, while up 55% Y/Y to 79.9K, fell short of expectations. "They increased about 5,900 sequentially, we were looking closer to about 7,700 merchant heads," says Raymond James' Aaron Kessler.
- The active accounts still only make up a small fraction of the millions of businesses with Yelp pages. Yelp has invested heavily in its local ad salesforce to grow penetration rates. Kessler thinks an expansion of Yelp's search ad offerings could help with local business monetization.
Jul. 30, 2014, 4:19 PM
- YELP expects Q3 revenue of $98M-$99M, above a $95.4M consensus. Full-year guidance is for revenue of $372M-$375M, above a $365.9M consensus.
- Full-year adjusted EBITDA guidance has been hiked to $67M-$69M from $56M-$60M. Q2 adjusted EBITDA was $17.2M, better than guidance of $11.5M-$12.5M.
- Cumulative reviews +44% Y/Y in Q2 to 61M (was +46% in Q1). Average monthly unique visitors +27% to 138M (+30% in Q1). Active local business accounts +55% to 79.9K (+65% in Q1). Mobile monthly uniques +51% to 68M.
- GAAP costs/expenses +54% to $85.7M, with sales/marketing spend rising 55% to $47.8M.
- Q2 results, PR
Jul. 30, 2014, 4:08 PM
Jul. 29, 2014, 4:37 PM
- Facebook (NASDAQ:FB) +0.9% AH, LinkedIn (NYSE:LNKD) +2.1% AH, YELP +2.7%, and Twitter shareholder GSV Capital (NASDAQ:GSVC) +4.8% after Twitter skyrockets AH thanks to a big Q2 beat (moreso on revenue than EPS), strong Q3 guidance, and better-than-expected MAU growth.
- Yelp is due tomorrow, LinkedIn on Thursday, and GSV on Aug. 7. Facebook posted strong Q2 numbers of its own last week.
Jul. 23, 2014, 9:10 PM
Jul. 8, 2014, 12:45 PM
- Echoes of April: Following a big May/June rally that propelled the Nasdaq to new post-Dot.com bubble highs, momentum stocks are nosediving nearly across the board today.
- The selloff comes ahead of Alcoa's afternoon Q2 report, the unofficial start of earnings season. Some of the cash going out of equities is flowing into Treasurys.
- Notable 6%+ decliners: TWTR -7.6%. DDD -6.5%. SSYS -7.9%. P -7.7%. LNKD -7.1%. DATA -10.1%. SPLK -9.3%. WDAY -7.7%. YELP -8.3%. GOGO -6.5%. YOKU -6.6%. ZU -10.5%. NOW -6.8%.
Jun. 23, 2014, 1:16 PM
- Sources tell dealReporter OpenTable (OPEN +0.1%) talked with bidders other than Priceline (PCLN -0.1%) before accepting the online travel giant's $2.6B bid.
- Though a higher offer is seen as unlikely, one source thinks Yahoo (set to receive an Alibaba IPO windfall) could make a bid. OpenTable is currently 1.9% above Priceline's $103/share offer price.
- Yelp (YELP +3.6%), which blasted off after Priceline/OpenTable was announced, is rallying again. Volatile restaurant deals microcap LiveDeal (LIVE +9.3%) is also up strongly.
- Previous: Street commentary on Priceline/OpenTable
Jun. 13, 2014, 12:46 PM
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