Deutsche Bank Says 'Keep Calm And Focus On Revenue' For Yelp
Deutsche Bank issued a Q3 2014 earnings preview for Yelp Inc (NYSE: YELP) on Tuesday. The firm maintained its Buy rating and $86 price target.
Analysts led by Lloyd Walmsley remained "long-term bulls on Yelp and expect to see another quarter of strong top line results in 3Q."
"National business advertising in local is a $50B opportunity that Yelp is just starting to address. The company now has sales teams focused on national, mid-market, and franchise accounts and commentary from 2Q14 suggests that performance has been strong so far," according to Walmsley.
The report forecasted Q3 2014 "revenue/EBITDA of $98.9M/$18.5M versus Thompson One Consensus of $99.0M/$19.3M. We forecast 86.9K active local business accounts, up 7K Q/Q, with average monthly revenue per account of $342, up 4 percent Q/Q."
Yelp will report earnings Wednesday after the market close.
Yelp recently traded at $70.71, up 2.81 percent.
Latest Ratings for YELP
Oct 2014 | Sterne Agee | Initiates Coverage on | Buy | |
Sep 2014 | Baird | Initiates Coverage on | Hold | |
Jul 2014 | Raymond James | Downgrades | Outperform | Market Perform |
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