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Yelp

5/23/2013, 3:19 AM ET

Quote & Headlines Market Currents StockTalk

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Tuesday, May 21, 11:18 AM Food delivery websites Seamless and Grubhub will merge to create a company that could take the niche industry to the next level. Though online food ordering sites are a hodge-podge of various options, the Seamless-Grubhub combination could lead to an expansive national rollout and a dominant industry position in the space. Should Yelp (YELP +1.4%) or Open Table (OPEN +2.7%) be worried about the threat of expanded services from the new company? Comment! [Consumer, M&A, Tech]
Wednesday, May 8, 2:06 PM Yelp (YELP -3.2%) and LinkedIn (LNKD -2%) are having a rough day after Doug Kass reports hearing the companies will be among the names discussed as short ideas at the Sohn Investment Conference (attended by many top hedge funds). Yelp remains well above where it traded prior to last week's Q1 report and guidance hike. Comment! [Tech, On the Move]
Thursday, May 2, 12:59 PM Midday top 10 gainers: IFT +46%. BBW +32%. STAA +26%. YELP +25%. RTK +19%. NETE +17%. ATTU +17%. OMG +16%. MTSN +15%. TOWR +13%.
Midday top 10 losers: NBL -72% (split). AVNW -15%. CIG -15%. SMA -15%. DXPE -14%. SAM -12%. LCUT -11%. AZK -10%. GTAT -10%. NEWP -9%. Comment! [On the Move]
Thursday, May 2, 12:20 PM Shorts are covering en masse as Yelp (YELP +24.8%) soars to new post-IPO highs in response to a Q1 revenue beat and strong guidance. As with Facebook, mobile strength is in focus: Cantor notes 36% of Yelp's Q1 local business ads were shown on mobile devices, up from Q4's 25%. Unique visitors rose 19% Q/Q and 43% Y/Y to 102.1M, with 30% visiting Yelp's mobile site. Yelp's apps are now on 10M mobile devices (up from 9.2M in Q4). Cumulative reviews +8% Q/Q and +43% Y/Y to 39M, and active local business accounts +13% Q/Q and +63% Y/Y to 45K (beating estimates). Sales/marketing spend is still 61% of revenue (62% in Q4). (slides - .pdf) (transcript) Comment! [Tech, Earnings, On the Move]
Thursday, May 2, 9:10 AM Premarket gainers: REGI +23%. CAAS +18%. YELP +12%. MWW +10%. GNRC +9%. NIHD +7%. BZH +7%. GILD +6%. MGM +5%.
Losers: CIG -13%. VLO -7%. TS -6%. 2 Comments [On the Move]
Wednesday, May 1, 5:37 PM After-hours top gainers, as of 5:15 p.m.: IFT +27%. REGI +18%. YELP +10%. HALO +8%. ISSI +7%.
After-hours top losers: NSPR -7%. GTAT -7%. BRCD -5%. GLUU -5%. CNW -4%. Comment! [On the Move]
Wednesday, May 1, 4:38 PM Yelp (YELP): Q1 EPS of -$0.08 misses by $0.02. Revenue of $46.1M (+68% Y/Y) beats by $1.5M. Adjusted EBITDA of of $3.2M beats guidance of $1.25M-$1.5M. Expects Q2 revenue of $52.5M-$53.5M, above consensus of $50.6M. Expects 2013 revenue of $216M-$218M, above consensus of $211.8M. Expects Q2 adjusted EBITDA of $4.5M-$5M, 2013 adjusted EBITDA of $21M-$23M. Shares +8.4% AH. (PR) Comment! [Tech, Earnings, On the Move]
Tuesday, April 23, 12:21 PM Still hungry to become a go-to source for local business info, Facebook (FB) has overhauled its mobile pages for businesses to provide quicker/easier access to basic info, and give page owners more options to update their pages. Compared with PC pages, there's much less of an emphasis on driving comments. The changes come as Facebook tries to grow a burgeoning local ad business, and shortly after it rolled out Graph Search, which enables more advanced local searches. Yelp (YELP) likely isn't thrilled, but it still has a major edge in reviews. (Nearby feature) Comment! [Tech]
Friday, April 5, 4:14 PM Another Friday, another rally for well-shorted Internet stocks. Though Zynga (ZNGA +3.2%) may have benefited from news it's adding John Doerr to its board, most Internet names with large short interests that posted big gains did so in the absence of major news. Groupon (GRPN +5.9%), a frequent participant in such rallies, was among the standouts, as were Yelp (YELP +8.5%), Zillow (Z +3.8%), and OpenTable (OPEN +4.6%). 3 Comments [Tech, On the Move]
Tuesday, April 2, 10:24 AM Groupon (GRPN -6.9%) "has a largely unproven business model, a wide ranging global business mix in transformation, and is undergoing a management change," writes UBS' Eric Sheridan. The daily deals leader is the only company given a Sell rating in a coverage launch for Internet stocks. Google (GOOG +0.6%), eBay (EBAY +1.1%), Yahoo (YHOO +1.2%), AOL (AOL +0.7%), Yelp (YELP +2.4%), and InterActiveCorp (IACI +2.1%) have been started at Buy, and Amazon (AMZN +0.4%), Facebook (FB +1.3%), LinkedIn (LNKD -0.2%), and Zynga (ZNGA +0.3%) at Neutral. Comment! [Tech, On the Move]
Friday, March 22, 9:23 AM RBC Capital initiates coverage on Yelp (YELP) with a Sector Perform rating. The company is receiving quite a bit of analyst coverage this week as JMP Securities started coverage at Market Perform on Tuesday and Wunderlich initiated at Hold on Wednesday. Comment! [Tech]
Friday, March 8, 2:22 PM A day after it was reported that a Yahoo exec stated her company is working on two "significant" acquisitions, Yelp (YELP +5.6%) is posting big gains on above-average volume. It probably doesn't hurt that it's a Friday and nearly a quarter of the float is shorted. Yahoo reportedly made a ~$750M offer for Yelp back in 2009, and has been frequently named as a potential Yahoo target over the last year. OpenTable (OPEN +1.4%), a company Yahoo was reportedly pitched on by bankers last year, is up more modestly. 2 Comments [Tech, On the Move]
Friday, February 15, 6:08 PM Facebook (FB -0.6%) roundup: 1) Facebook discloses some employee laptops were hacked, but adds "no user data was compromised." 2) The Verge provides a critical review of Graph Search, arguing its reliance on the "likes" of friends often leads to poor results (YELP must be glad to hear that). But it admits Graph Search "works wonderfully" when searching for friends/photos. 3) Pando Daily's Kevin Kelleher argues Facebook has "already become something most of us endure more than we love." "Facebook won’t die. And it won’t own the Web. It’ll just be… mediocre." 3 Comments [Tech]
Friday, February 8, 10:07 AM LinkedIn (LNKD +19.7%) is off to the races as accolades pour in following its huge Q4 beat, and is lifting some recent Internet IPOs along the way. YELP +5.6%. GRPN +2.7%. ZNGA +4.2%. "LinkedIn remains one of the best business models online today," writes Cantor, impressed with 106% Y/Y international growth but maintaining a Hold on valuation grounds. LinkedIn stated on its earnings call it plans a "mid-single-digit" price increase for its recruiting product. 2,400 Talent Solutions customers were added in Q4, raising the total base to 16.4K organizations. Comment! [Tech, On the Move]
Wednesday, February 6, 4:50 PM More on Yelp: Average monthly visitors totaled 86M, +31% Y/Y but only +2% Q/Q (was +7% Q/Q in Q3) - 28M were mobile Web users. Active local business accounts +12% Q/Q and +68% Y/Y to 39.8K. Cumulative reviews +9% Q/Q and +45% Y/Y to 36M. Mobile apps used on 9.2M unique devices/month, up from 8M in Q3 and 7.2M in Q2. Sales/marketing expenses +59% Y/Y, less than revenue growth but still 62% of revenue. R&D +97% and 15% of revenue. YELP -4.6% AH. CC underway (webcast). (PR) (slides) 1 Comment [Tech, Earnings]
Wednesday, February 6, 4:15 PM Yelp (YELP): Q4 EPS of -$0.08 misses by $0.04. Revenue of $41.2M (+65% Y/Y) beats by $900K. Expects Q1 revenue of $44M-$44.5M, above $43.8M consensus. Expects 2013 revenue of $210M-$212M, above $207M consensus. Shares -4.1% AH. (PR) 1 Comment [Tech, Earnings, On the Move, Breaking News]