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Fly News Breaks for March 20, 2017
YELP
Mar 20, 2017 | 07:30 EDT
Credit Suisse analyst Paul Bieber notes that Yelp shares are down 18% since reporting Q4 results primarily due to soft Q4 advertiser additions and a disappointing 2017 EBITDA outlook. The analyst views the selloff as overdone given his view that salesforce productivity likely returned to normal in Q1 and the 2017 EBITDA outlook is likely conservative. Further, he believes Yelp is positioned for beat and raise results in 2017. Bieber reiterates an Outperform rating and $49 price target on the shares.
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