Yelp’s shares have come under significant pressure since reporting an upside quarter on revenue and EBITDA. However, two comments from management drew investor concerns and led to an 18% share price correction the following day: (1) Yelp’s comment that traffic had plateaued in July; and (2) additional $30 million in costs as furloughed employees are returned and employee salaries are returned to 100%. Granted, management could have done a better job on the messaging, but we believe the selloff was an overreaction. Several firms increased their price targets on the shares, with one notable and