Yelp Inc YELP is one of the best positioned companies to take advantage of local advertising, Wunderlich says in its earnings preview.
Wunderlich reiterates Yelp at a Buy with a $105 price target heading into earnings tomorrow afternoon. The firm expects Yelp to report strong traffic on mobile. Additionally, the analysts say that the YP partnership is being overlooked as a source of “material upside,” generating more than the $3-4 million reported in Q3.
Wunderlich expects local advertising to do well with 6,000 more active businesses added. Checks with advertisers, the note says, have reinforced the value of Yelp’s ads.
Moving forward, Wunderlich expects Yelp to guide above consensus estimates for revenue of $539.5 million and EBITDA of $120.5 million. The analysts expect Yelp to “consistently beat and raise” in 2015.
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