Yelp’s stock appears headed for its best one-day gain in a year
Yelp Inc.’s earnings tend to cause big swings in the local-listings stock, and Thursday’s report was no exception, even as Yelp came in ahead of revenue expectations.
Though Yelp barely beat revenue expectations and came up short on per-share profit after calling out “$7 million in fees related to shareholder activism,” analysts found reasons to cheer. “Yelp’s 3Q results are likely to instill a sense of incremental confidence in the company’s ability to execute against its lofty long-term goals,” wrote Evercore ISI’s Lee Horowitz, who rates the stock at in-line with a $38 target price.
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