UPDATE: Credit Suisse Reiterates on Yelp Following 1Q14 Results Report

In a report published Thursday, Credit Suisse analyst Stephen Ju reiterated an Outperform rating on

, and raised the price target from $87.00 to $90.00. In the report, Credit Suisse noted, “YELP reported 1Q14 results with revenue growing 65.6% YOY to $76.4m vs. guidance $73.5m-$74.5m and cons/CS estimates $75m/$74.4m. Active local business accounts grew to 74k vs. our 73k estimate, while ARPU was $308 vs. CS $312. We maintain our Outperform rating and raise our target to $90 (from $87).” Yelp closed on Wednesday at $58.32.