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Deutsche Bank issued a Q3 2014 earnings preview for Yelp Inc (NYSE: YELP) on Tuesday. The firm maintained its Buy rating and $86 price target.
Analysts led by Lloyd Walmsley remained "long-term bulls on Yelp and expect to see another quarter of strong top line results in 3Q."
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"National business advertising in local is a $50B opportunity that Yelp is just starting to address. The company now has sales teams focused on national, mid-market, and franchise accounts and commentary from 2Q14 suggests that performance has been strong so far," according to Walmsley.
The report forecasted Q3 2014 "revenue/EBITDA of $98.9M/$18.5M versus Thompson One Consensus of $99.0M/$19.3M. We forecast 86.9K active local business accounts, up 7K Q/Q, with average monthly revenue per account of $342, up 4 percent Q/Q."
Yelp will report earnings Wednesday after the market close.
Yelp recently traded at $70.71, up 2.81 percent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.