Yelp (YELP): Good Quarter and Guide, Need More To Upgrade - Susquehanna

Susquehanna analyst, Shyam Patil, noted the good quarter and guide from Yelp (NYSE: YELP), but he’d need to see more consistent execution for an upgrade from Neutral.

Q1 revenue was 2% above consensus, driven by higher local advertising, whilet transaction revenue came in lower than expected. EBITDA beat consensus by 15%, as the revenue beat more than offset higher S&M expenses, which came in 3% higher expected. EPS of $0.08 was $0.08 ahead of consensus.

The price target goes to $22.00 (from $16.00).

For an analyst ratings summary and ratings history on Yelp click here. For more ratings news on Yelp click here.

Shares of Yelp closed at $21.42 yesterday.

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