Yelp (YELP): Guidance Lower Than Expected But Fundys Look Solid - Needham

Needham & Company analyst, Kerry Rice, reiterated his Buy rating on shares of Yelp (NYSE: YELP) and raised his price target to $45 after 4Q16 results. In short, results were above expectations, but lower than expected FY17 guidance is likely to result in share weakness. The core local advertising remained strong however, with National Accounts and Self-Service layering on incremental revenue.

The new $45 PT is up from $43.

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 $41.49 yesterday.

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