YELP - Yelp gains 9% as analysts acknowledge solid quarter growth potential

Yelp stock (NYSE:YELP) is up 8.6% and tagging a three-month high after the company used solid execution to beat revenue expectations on some record sales of services advertisements. Wall Street analysts are generally Neutral on the stock, but they uniformly had praise for the quarter and variously saw some hints of accelerating growth to come. Evercore ISI is more constructive on the name now, but is holding out for "sustainable" growth rates and some continued successful execution. It notes first-quarter outlook looks light but that full-year guidance points to some back-half acceleration off its product initiatives. The firm has a $46 price target, implying 23% upside. Jefferies praised the quarter's success due to product and targeting improvements in a tough macro environment, and also noted the outlook was a bit disappointing, though blaming that on COVID-19 headwinds from the omicron variant. Barclays similarly saw few negatives in the print, saying

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Yelp gains 9% as analysts acknowledge solid quarter, growth potential