Yelp stock rockets after company shows benefits from early economic recovery

“We are starting to see the impact of early signs of recovery and reopening of the economy on Yelp’s YELP, +8.76% business,” RBC Capital Markets analyst Shweta Khajuria wrote. “We continue to view Yelp as a ‘vaccine’ stock—with the release of a COVID vaccine, Yelp should benefit substantially in terms of foot traffic for businesses on its platform as well as its app traffic.”

She sees valuation upside for Yelp, which has declined 32% so far this year as the Nasdaq Composite Index COMP, +0.03% has gained 32%. Khajuria said Yelp’s pullback was “largely justified” given how the pandemic impacted revenue in the second quarter, but she now believes “the worst is behind Yelp.” She also sees signs of improving fundamentals.“While there are still pandemic-related risks, Yelp is on stronger product footing and has a more productive salesforce,” he wrote.

thanks

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Wall Street’s top analysts say buy stocks like Amazon and Yelp amid virus resurgenceTipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, like Amazon and Yelp. Jane Fonda called the COVID-19 pandemic 'God's gift to the Left.' that tells the opportunism of the Democratic Party. Do they care about the 200K+ Americans, or do they consider these unfortunate victims to be props to use in the anti-Trump drama they subject us to day after day? wow
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »