Yelp (YELP) is set to report fourth-quarter earnings after the market close Wednesday during a period of transition for the provider of crowd-sourced online reviews. The consensus estimate on Yelp is for revenue of $215 million, up 10% from the year-ago period.
That would be the fifth quarter in a row of revenue deceleration, largely attributable to the loss of its Eat24 food-delivery business, which Yelp sold to Grubhub (GRUB) in October. The consensus on adjusted earnings is 5 cents per share, vs. 27 cents in the year-ago period.
RBC Capital Markets analyst Mark Mahaney has an outperform rating on Yelp and a price target of 55. Yelp shares were up 2.8%, near 45.50 during afternoon trading on the stock market today.
Advertising accounts for about 90% of Yelp revenue. Mahaney expects Yelp to report ad revenue of $206 million, up 16% from the year ago period.
JPMorgan analyst Doug Anmuth in mid-December raised his price target on Yelp to 55 from 52. “We believe Yelp is well-positioned into 2018 as the transition to Yelp 2.0 remains on track (i.e. Read more from investors.com…
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