Why Yelp Inc. Stock Popped Today
Shares of Yelp Inc. (NYSE: YELP) were up 28% as of 11:25 a.m. EDT Friday after the local business review specialist announced strong second-quarter 2017 results and the sale of its Eat24 business to Grubhub (NYSE: GRUB).
Quarterly revenue climbed 20% year over year to $208.9 million -- well above Yelp's guidance provided last quarter for $202 million to $206 million -- helped by strong growth in both app usage and advertiser accounts. On the bottom line, that translated to adjusted net income of $21.6 million, or $0.25 per diluted share, which was also above investors' expectations for a loss of $0.03 per share and up from earnings of $12.5 million, or $0.16 per share in the same year-ago period.
Yelp also announced that its Board of Directors has approved the repurchase of up to $200 million in common stock.
Source: Fool.com
Yelp Inc. A Stock
Currently there is a rather positive sentiment for Yelp Inc. A with 4 Buy predictions and 1 Sell predictions.
With a target price of 44 € there is a positive potential of 41.94% for Yelp Inc. A compared to the current price of 31.0 €.
