Yelp Q1 Revenue Edges Past Street’s Estimates, Outlook Upbeat (YELP)
Shares of Yelp Inc. (NYSE: YELP) rallied during extended trading hours on Wednesday after the restaurant and business review website reported better-than-expected revenue for the fiscal first quarter and provided upbeat revenue guidance for the current quarter.
However, loss per share exceeded Street’s estimate.
For the quarter, the San Francisco CA based Company reported a loss of 8 cents a share while analysts’ polled by Thomson Reuters were expecting a loss of 6 cents a share.
Revenue during the quarter came at $46.13 million, beating analysts’ consensus estimate of $44.54 million.
For the current quarter, Yelp anticipates revenue to come in the range of $52.5 million to $53.5 million, which would represent a 62% jump in revenue from the year-earlier quarter.
For the fiscal 2013, the Company expects net revenue to be in the range of $216 million and $218 million, which would represent 58% growth over fiscal 2012 revenue.
Several Wall Street analysts have initiated coverage on the stock. On April 4th, analysts at The Street initiated coverage on the stock with “hold” rating.
Analysts at UBS AG also initiated the coverage on the stock on April 2 with a price target of $30 and set a “buy” rating.
Earlier on March 22, analysts at RBC Capital initiated coverage with “sector perform” rating and set a price target of $26.
Overall, four equity research firms have “buy” rating, eleven maintain a “hold” rating and one firms keeps “sell” rating.
On average, the stock has “hold” rating and price target of $23.84.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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