RBC Capital analyst Mark Mahaney raised his price target on Yelp to $62, saying his latest proprietary survey findings suggest that only 30% of U.S. small businesses have adopted the platform for advertising, even though the future spending intentions by advertisers are positive. The analyst also notes that the survey found 70% of those who use the platform as being "very helpful". Mahaney adds that Yelp's "Request a Quote" opportunity offers a "strong value proposition, very good momentum, and the ability to materially impact" its profitability over time. The analyst keeps his Outperform rating on Yelp.

Jefferies raised the firm's price target on Yelp to $43 from $42 and keeps a Hold rating on the shares. In a preview note for the U.S. Internet group, the firm says it will be looking for signs of sustainability in elevated ARPU growth at Yelp, especially as locations/app MAUs remain in decline.