Goldman Sachs raised the firm’s price target on Yelp (YELP) to $40 from $38 and keeps a Neutral rating on the shares. The company produced a solid set of results that centered around a few key themes – revenue growth that continues to be led by Services, offsetting continued softness from the Restaurants, Retail & Other category due to macro-related pressures, the analyst tells investors in a research note. Goldman further notes that Yelp’s continued operating leverage with Q3 EBITDA margins had solidly exceeded its forecasts as its management maintains cost discipline.
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Read More on YELP:
- Yelp price target lowered to $37 from $39 at Baird
- Yelp’s Q3 Earnings Rise Amid Strategic Acquisition
- Yelp reports Q3 EPS 56c, consensus 42c
- Yelp to acquire RepairPal for roughly $80M in cash
- Is YELP a Buy, Before Earnings?
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