Yelp Stock Hits Nearly 5-Year High After Bull Notes

Craig-Hallum hiked YELP's price target to $60 from $54

Digital Content Manager
Aug 4, 2023 at 10:51 AM
facebook X logo linkedin

Yelp Inc (NYSE:YELP) is up 7.1% at $46.20 at last check, after the crowd-sourced review name reported better-than-expected second-quarter earnings and revenue after yesterday's close. No fewer than three analysts raised their price targets in response, with Craig-Hallum hiking its objective $60 from $54.

There's plenty of room for other brokerages to follow suit. In fact, six of the eight firms in coverage call YELP a "hold" or worse, while the remaining two say "strong buy." Plus, the 12-month consensus target price of $42.80 is currently an 8.1% discount to current levels.

The equity is trading at its highest level since October 2018, blowing past resistance at the $45 level that capped a rally earlier this week. Support at the 20-day moving average has been in place since early May, and so far this year Yelp stock has added more than 69%.

Short-term options traders have been pessimistic toward Yelp stock, too. This is per the security's Schaeffer's put/call open interest ratio (SOIR) 1.12, which ranks higher than 76% of readings from the past year. An unwinding of these bearish bets would push shares even higher on the charts.

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI