Needham & Company Starts Yelp (YELP) at Hold

Needham & Company analyst Brad Erickson initiates coverage on Yelp (NYSE: YELP) with a Hold rating.

The analyst comments "YELP should continue seeing growth in the offline-to-online shift in local advertising, but its persistent undermonetization of Home & Local services keeps us from being more constructive. We need to see an explicit roadmap for better attribution and monetization before being able to argue for anything greater than mean reversion in this highly volatile name with newly found activism."

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 $34.56 yesterday.

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