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Yelp (YELP) Receives a Rating Update from a Top Analyst

In a report released today, Eric Sheridan from Goldman Sachs maintained a Hold rating on Yelp (YELPResearch Report), with a price target of $37.00. The company’s shares opened today at $38.42.

According to TipRanks, Sheridan is a top 100 analyst with an average return of 17.8% and a 64.66% success rate. Sheridan covers the Technology sector, focusing on stocks such as Meta Platforms, Netflix, and Snap.

Currently, the analyst consensus on Yelp is a Hold with an average price target of $36.50, implying a (5.00)% downside from current levels. In a report released on August 5, Evercore ISI also maintained a Hold rating on the stock with a $41.00 price target.

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Based on Yelp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $276.63 million and a GAAP net loss of $915 thousand. In comparison, last year the company earned revenue of $232.1 million and had a GAAP net loss of $5.8 million

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Yelp, Inc. hosts an online database of user-generated reviews of local businesses. It provides reviews on local businesses, which include restaurants, boutiques and salons, dentists, mechanics and plumbers. The firm offers multiple free and paid advertising solutions to engage with consumers, including free online business accounts, search advertising and Yelp Deals. The company was founded by Jeremy Stoppelman and Russell Simmons in July 2004 and is headquartered in San Francisco, CA.

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