23.34 0.00 (0.00%)
After hours: 6:04PM EDT
|Bid||23.12 x 800|
|Ask||23.50 x 1100|
|Day's Range||23.01 - 24.12|
|52 Week Range||12.89 - 39.37|
|Beta (5Y Monthly)||1.09|
|PE Ratio (TTM)||34.12|
|Earnings Date||Aug 06, 2020 - Aug 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||24.29|
While President Trump's executive order Thursday on "preventing online censorship" is widely viewed as targeted toward social media platforms like Twitter, Facebook, Instagram and YouTube, all of which which were cited in the order, it could also pose an unintended threat to online travel and user review sites that are difficult to sue because of […]
THE NUMBER ONE What’s your favorite coronavirus comfort food that you’ve kept ordering for delivery, germophobia be damned? It probably depends on where you live. Yelp (YELP) had one of its data scientists mine the text of dish names being ordered on its app and review site since shelter-in-place orders began on March 16 to determine what Americans have been craving as the pandemic has upended life around the country.
Shareholder rights law firm Robbins LLP reminds investors that it is investigating the officers and directors of Yelp Inc. (NYSE: YELP) for breaches of fiduciary duties, unjust enrichment, and violations of the Securities Exchange Act of 1934. Yelp operates a platform that connects consumers with local businesses.
(Bloomberg Opinion) -- Each stage of the pandemic revives the question of what is coming next, usually in a more disturbing context. The next major event, I am sorry to say, is the disappearance of what I call ghost capital. According to one estimate, about half of small businesses will be out of cash within a month, and many of them will close. The American economy has been living off the inheritance of its pre-Covid-19 past, and that cannot go on forever.Consider your local restaurants. I live in Northern Virginia, which is scattered with thousands of dining establishments of many different kinds. Many of them are currently open for takeout and delivery but not for sit-down dining. Even when they are allowed to welcome customers back inside, social distancing will mean they can’t serve nearly as many patrons as before.That’s the supply side. Demand for in-restaurant dining is likely to fall as well, though estimates vary. Since the average small business carries less than a month’s worth of liquid reserves, and the wait for a vaccine is likely to be at least a year, many restaurants will simply be unable to survive the shrinking of the market.I call these places ghost restaurants because they are still walking around, so to speak, visible to us and listed on Yelp, but not really alive and without much of a future.In a few months’ time, a significant number of these ghost enterprises will be gone. My drive around Northern Virginia, rather than being rich with culinary choice, will soon become fairly desolate — and the overall economic landscape will indeed be much emptier.What else in our current capital structure might qualify as “ghost”?We are still watching TV shows made before the pandemic, but the supply of new material is starting to run thin. South Korea and a few other nations are producing fresh content, but a lot of U.S. television programming is already looking to adapt to the new scarcity of programming content.My local dry cleaner is still in business, taking advantage of its previous market position. But even once the lockdown is fully lifted, fewer people will be going into work or to formal events. Demand to have suits pressed is way down, and soon enough that will translate into a far fewer dry cleaning shops.Many shopping malls — and peripheral businesses that rely on mall traffic — also will turn out to be ghost businesses.If you own a small business, you might be wondering whether you should stick around in a declining sector. But what exactly can you do? You’ve already signed a lease, you have a lot of money invested in equipment, and it is hardly possible to start up a new business in the meantime. So you wait, in the process contributing to an image of diverse commercial activity that does not quite correspond to the long-term picture.Another less visible effect is that fewer replacement firms and small businesses are on the way. Covid-19 aside, small businesses have a natural life cycle, with many of them disappearing once the owner retires. Such retirements are more likely now (not just because business is bad, but because being out on the floor involves a health risk). But how will new businesses arise to take their place? It is harder to meet new business partners, harder to line up financing, harder to identify qualified assistants and staff — and consumer spending is down, too.And while an all-but-certain death awaits some businesses, others can look forward to mere stagnation. If you are a 23-year-old entrepreneur, how easy will it be to build up the network of “soft ties” that will help you launch the next phase of your career?As many marginal businesses are going under, it is quite possible that the public-health situation will improve. Civic spaces will repopulate as commercial ones depopulate, giving urban landscapes a confusing feel. And because there will be fewer businesses to choose from, it will be all the harder for those remaining to enforce social distancing.Many Americans have been clamoring lately for more freedom, and those desires are understandable. But as they emerge from lockdown, they might well be disappointed to discover that, above all else, what people will be exercising is the freedom to go out of business.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tyler Cowen is a Bloomberg Opinion columnist. He is a professor of economics at George Mason University and writes for the blog Marginal Revolution. His books include "Big Business: A Love Letter to an American Anti-Hero."For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
White-collar workers aren’t immune from the coronavirus’ economic devastation. Job losses, pay cuts, and reduced hours are already hitting people with higher incomes—and the pain will likely get worse.
About a month ago, I outlined on InvestorPlace four big reasons why beaten-up Yelp (NASDAQ:YELP) stock was ready to rip higher.Source: Shutterstock At the time, YELP stock was at $18. Three weeks later, it had rallied more than 30% to $24.50, amid broad optimism regarding a gradual reopening of the U.S. economy and resumption of normal consumer activity.Then JMP Securities released a bearish note on Yelp in mid-May. In it, JMP said:InvestorPlace - Stock Market News, Stock Advice & Trading Tips"Yelp's traffic is tied to brick and mortar visits and in-person services and while we expect traffic to improve as the U.S. removes COVID-19 related restrictions, Yelp is likely to see headwinds until we have a vaccine or treatment."YELP stock dropped big on the news. All the way back to $19.And I think it's time to buy the dip again. Yes, Yelp will see headwinds until we have a vaccine or treatment. But that's already fully priced into the stock. What's not priced in is the fact that the company's financial trends will only get better from here as the U.S. economy normalizes. As that happens over the next few months, YELP stock will bounce back.By a lot. Shares could even roar 75% higher by the end of the year.Here's how. Things Will Get BetterYelp's fundamentals are awful right now. There's little argument there. Consumers are rarely leaving their homes. Restaurants and local services across the globe are closed. Ad budgets have been slashed.Right now, Yelp is being hit by a cocktail of headwinds. And the numbers reflect this. Yelp's revenues in April dropped 35% year-over-year. * 20 Stocks to Buy If You're Still Betting on America to ThriveBut this feels like rock bottom for Yelp.Several states, including Georgia and Arizona, have let their stay-at-home orders expire. In those states, consumers are starting to go out again. Restaurants and local services are starting to open up. Presumably, this gradual economic normalization will lead to increased local ad spending in those states.So, whereas everything was working against Yelp in April, some of the company's headwinds have started to reverse course in May in certain geographies. In June and July, more states will let their stay-at-home orders expire. As they do, restaurant and local service traffic and spend will rebound in those states, and Yelp's fundamentals will continue to improve, slowly but surely.Big picture: things are bad right now for Yelp, but they are in the first inning of getting better. Over the next few months, the company's fundamentals will dramatically improve amid global economic normalization and the reopening of local restaurants and services. Huge Upside PotentialThe attractive thing about YELP stock at $18 is that all the bad news is priced in, but none of the good news is priced in.YELP stock trades at 1.6 times trailing sales. That's an all-time low valuation for this stock. More than that, it represents a 60% discount to the stock's five-year-average trailing sales multiple of 3.8.Assuming Yelp's revenue and profit growth trends do eventually normalize, then the stock is an absolute steal here at today's majorly discounted valuation.My modeling on Yelp is quite conservative. I assume a big revenue drop this year, and then mild, mid-single-digit revenue growth thereafter for the subsequent few years. I also assume a big drop in profit margins this year, followed by a gradual rebound in margins to 2019 levels by 2025.Those aren't wildly aggressive assumptions. If anything, they are quite conservative. Yet, they lay the groundwork for YELP stock to rally 75% over the next few quarters.Under those assumptions, I see Yelp netting about $2.30 in earnings per share by 2025. Based on a 20-times forward earnings, which is about the medium-term average multiple for technology stocks, and a 10% annual discount rate, that implies a 2020 price target for YELP stock of over $31. Bottom Line on YELP StockYelp stock is oversold and undervalued at current levels. All the bad news is priced in. None of the good news is priced in. Over the next few months, the good news will start to pile up.The economy will normalize. Local restaurants and services will reopen. Yelp's growth trends will improve.All of that good news will converge on a severely discounted valuation on YELP stock and spark a huge rally into the end of the year. I see prices above $30 as likely by the end of the 2020.Luke Lango is a Markets Analyst for InvestorPlace. He has been professionally analyzing stocks for several years, previously working at various hedge funds and currently running his own investment fund in San Diego. A Caltech graduate, Luke has consistently been rated one of the world's top stock pickers by various other analysts and platforms, and has developed a reputation for leveraging his technology background to identify growth stocks that deliver outstanding returns. Luke is also the founder of Fantastic, a social discovery company backed by an LA-based internet venture firm. As of this writing, he was long YELP. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Buy the Big Dip in Yelp Stock For 75% Upside Potential appeared first on InvestorPlace.
Shares of Yelp Inc. are down more than 4% in Monday trading after BMO Capital Markets analyst Daniel Salmon downgraded the stock to market perform from outperform. "We felt there were no 'silver linings' in the results that could help offset the challenging environment in the local ad market ahead, which is clouding the transition to self-service/multi-location over the next 12 months, particularly in the restaurant vertical," Salmon wrote. "And while we understand the decision to pause share buybacks, capital return had been an important part of our thesis as well." He lowered his price target on the shares to $26 from $33. Yelp's stock has dropped 26% as the S&P 500 has fallen 12% in that span.
Yelp shares are lower after BMO Capital downgraded the company to market perform on a "challenging environment" in the local ad market ahead.
SAN DIEGO, CA / ACCESSWIRE / May 11, 2020 / The Shareholders Foundation, Inc. announces that a that a lawsuit is pending for certain investors in Yelp Inc (NYSE:YELP) shares. Investors, who purchased shares ...
Image source: The Motley Fool. Yelp Inc (NYSE: YELP)Q1 2020 Earnings CallMay 7, 2020, 5:00 p.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood day, and welcome to the Yelp First Quarter 2020 Earnings Conference Call.
Yahoo Finance's Heidi Chung breaks down why some investors are still optimistic on Yelp, despite a widening loss in its first quarter earnings report.
Yelp (YELP) delivered earnings and revenue surprises of -144.44% and 5.80%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Yelp (NYSE: YELP) reported quarterly losses of 22 cents per share on Thursday, which missed the analyst consensus estimate by 14 cents.The company reported quarterly sales of $249.901 million, which beat the analyst consensus estimate of $230.760 million by 8.29%. This is a 5.92% increase over sales of $235.942 million the same period last year."The emergence of the COVID-19 pandemic has drastically changed nearly all aspects of life and has significantly impacted local businesses and their ability to operate as they once did," said CEO Jeremy Stoppelman. "Our first quarter results demonstrate the strength of our strategy, as we grew Revenue 6% compared to the first quarter of 2019, despite the emergence of the COVID-19 pandemic in March."Stoppelman says while there is no way of knowing how long this pandemic will last, the company is encouraged by the early signs of stabilization in the business witnessed in the second half of April.View more earnings on YELPYelp shares were trading down 6% to $21.50 in Thursday's after-hours session. The stock has a 52-week range between $40.79 and $12.88.Related Links:Yelp Reports Q4 Earnings Miss, Announces New CFOWSJ: Groupon Eyeing M&A, Yelp Could Be The TargetSee more from Benzinga * Elon Musk Talks Neuralink, Brain Stimulation And AI With Joe Rogan * Why Salesforce's Stock Is Trading Higher Today * Why Dynatrace's Stock Is Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Yelp Inc. shares fell 1.3% in the extended session Thursday after the company topped revenue estimates but reported wider-than-expected losses. The company reported a first-quarter net loss of $15.5 million, which amounts to 22 cents a share, versus net income of $1.4 million, or 2 cents a share, in the year-ago quarter. Revenue rose to $249.9 million from $235.9 million. Analysts surveyed by FactSet had estimated a loss of 9 cents a share on sales of $229.8 million. "Our first quarter results demonstrate the strength of our strategy, as we grew revenue 6% compared to the first quarter of 2019, despite the emergence of the COVID-19 pandemic in March," Chief Executive Jeremy Stoppelman said in a statement. "While there is no way of knowing how long this pandemic will last, we are encouraged by the early signs of stabilization in the business that we witnessed in the second half of April." For the second quarter, analysts model a loss of 32 cents a share and sales of $156.8 million. In April, Yelp pulled its 2020 guidance because of the pandemic and disclosed that it expects between $8 million and $10 million in costs related to the furloughing and termination of employees; the company said it was laying off 1,100 people and furloughing 1,100. Yelp stock has dropped 43% in the past year, with the S&P 500 index falling 1.2%.
Yelp Inc. (NYSE: YELP), the company that connects people with great local businesses, today posted its financial results for the first quarter ended March 31, 2020 in the Q1 2020 Shareholder Letter available on its Investor Relations website at www.yelp-ir.com.
As businesses struggle to reinvent themselves in the midst of the COVID-19 pandemic, Yelp is launching new features to help highlight these changes. For one thing, it's adding a new information category called virtual service offerings, which will allow businesses to showcase the fact that they're providing things like virtual consultations, classes, tours and performances. Then anyone browsing Yelp can search for those categories.
Shareholder rights law firm Robbins LLP announces that it is investigating the officers and directors of Yelp Inc. (NYSE: YELP) for breaches of fiduciary duties, unjust enrichment, and violations of the Securities Exchange Act of 1934. Yelp operates a platform that connects consumers with local businesses.
Yelp Inc. (NYSE: YELP), the company that connects people with great local businesses, today released first quarter data for the Yelp Economic Average (YEA) report, a benchmark of local economic strength in the U.S. Given the unprecedented changes brought by the coronavirus (COVID-19), the report has been adapted to reveal the dramatic shifts we’re currently seeing in local economies through a variety of indicators since the start of 2020. YEA found that business closure rates rose by 200% or more in metros and states across the U.S and consumer interest in local businesses fell, by 50% or more in many categories, in a span of two weeks. The report also observed that some businesses saw a surge in interest, including fitness and exercise equipment (up 437% in seasonally adjusted share of relevant page views, reviews, and photos since March 10), community-supported agriculture (up 407%), and guns and ammo (up 191%).
Yelp Inc. (NYSE: YELP), the company that connects people with great local businesses, announced that it will release its financial results for the quarter ended March 31, 2020 after the market closes on Thursday, May 7, 2020.