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Investment analysts at Stifel Nicolaus started coverage on shares of Yelp (NASDAQ:YELP) in a note issued to investors on Wednesday. The firm set a “buy” rating and a $85.00 price target on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 21.57% from the company’s current price.

The analysts wrote, “we estimate the company will grow revenue at a 54% CAGR between 2013 and 2016, rising from $233mn to $854mn, driven primarily by growth in active local business accounts from about 67,000 in 2013 to an estimated 183,000 in 2016″

A number of other firms have also recently commented on YELP. Analysts at MKM Partners raised their EPS on shares of Yelp in a research note on Tuesday, August 5th. They now have a “buy” rating on the stock. Separately, analysts at SunTrust reiterated a “buy” rating on shares of Yelp in a research note on Thursday, July 31st. They now have a $90.00 price target on the stock, up previously from $85.00. Finally, analysts at Barclays reiterated a “buy” rating on shares of Yelp in a research note on Thursday, July 31st. They now have a $85.00 price target on the stock, up previously from $73.00. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $90.10.

In other Yelp news, SVP Laurence Wilson unloaded 1,250 shares of Yelp stock on the open market in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.32, for a total transaction of $85,400.00. The sale was disclosed in a document filed with the SEC, which is available at this link.

Shares of Yelp (NASDAQ:YELP) traded up 6.68% on Wednesday, hitting $74.59. The stock had a trading volume of 5,859,387 shares. Yelp has a 1-year low of $46.96 and a 1-year high of $101.75. The stock has a 50-day moving average of $71.32 and a 200-day moving average of $73.37. The company’s market cap is $5.377 billion.

Yelp (NASDAQ:YELP) last announced its earnings results on Wednesday, July 30th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.03) by $0.07. The company had revenue of $88.80 million for the quarter, compared to the consensus estimate of $86.32 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was up 61.5% on a year-over-year basis. Analysts expect that Yelp will post $0.09 EPS for the current fiscal year.

Yelp Inc connects people with great local businesses. Its users have contributed a total of approximately 36.

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