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UPDATE: Morgan Stanley Initiates Yelp at Equal-Weight on Valuation

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Morgan Stanley initiated coverage on Yelp (NYSE: YELP) with an Equal-weight rating and a $22 price target.

Morgan Stanley commented, "Yelp's social user platform, high content quality, review density, and near-zero content costs are key competitive differentiators, in our view. While search engines such as Google have clear ambitions in local, they have so far failed to build active social communities that contribute high-quality, real-time reviews. Daily deal sites have also failed to achieve meaningful content depth, and currently demand a significantly larger share of a business' revenue than Yelp's straightforward, flat-rate-priced subscription offerings."

Yelp closed at $19.46 on Thursday.

Latest Ratings for YELP

DateFirmActionFromTo
Aug 2015B. RileyUpgradesSellNeutral
Aug 2015MacquarieMaintainsOutperform
Aug 2015SusquehannaInitiates Coverage onNeutral

View More Analyst Ratings for YELP
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Initiation Intraday Update Analyst Ratings

 

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