The earnings surprised the street and the stock has moved 30% in one month. Now, it is up 186% in one year. The net loss came in much lower than expected by analysts, and the revenue growth was also very strong. Analysts have upgraded the stock, and JP Morgan & Credit Suisse have increased the price target to $52 and $56 respectively. The strength of the brand and the good performance in Yelp Mobile helped the company post great numbers. Yelp initiated guidance for Q3'13 at $58-$59 million for revenues and $7.5-8 million for adjusted EBITDA. For the full fiscal 2013, the revenue guidance is for $222-$224 million, and adjusted EBITDA is expected to be in the range of $27-$28 million. The H1'13 performance was also great with 68% rise in revenues to $101.2 million (from $60 million in H1'12), and significant decline in net loss to $5.7 million or 9 cents per share (from $11.8 million or 26 cents per share in H1'12). The adjusted EBITDA increased from $630K in H1'12 to $11 million in H1'13. The performance indicates that the company is moving strongly towards reporting a net profit over the next few quarters. Over the years, the revenue growth has always been good. Yelp is a zero debt company, and the cash position is comfortable at $96 million on June 30. Direct / indirect competition from players like Google (GOOG) and Yahoo (YHOO) is likely to remain strong, and it depends on these search engines for traffic. Emerging fast growing segments like social media sponsorship / native ads are also attracting advertisers for their effectiveness and cost. Social media sponsorship /native advertising company IZEA (IZEA) recently posted record numbers. So it is possible that the stock price may have gotten a bit ahead of the fundamentals. After such a huge rise it is good to get a bit cautious.