|Bid||42.50 x 500|
|Ask||44.90 x 500|
|Day's range||43.76 - 44.90|
|52-week range||26.93 - 46.76|
|PE ratio (TTM)||282.15|
|Forward Dividend & Yield||N/A (N/A)|
|1y target est||N/A|
Investing.com - (NYSE:Yelp) is selling its Eat24 business to (NYSE:GrubHub) for $287.5 million.The deal is part of a strategic alliance with GrubHub allowing Yelp to expand its online ordering capabilities.Yelp bought Eat24 for $134 million in 2015.Yelp Thursday reported second quarter earnings per share of 25 cents.That sailed past a forecast of a loss of 2 cents per share.Revenues were up 20% at $208.9 million, beating an estimate of $204.9 million.CEO Jeremy Stoppelman pointed to strong growth in app usage and advertiser accounts.Yelp shares rose over 18% Thursday in after-hours trade.rade.
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Shares of local listings purveyor Yelp (YELP) are down $1.01, or 2%, at $45.72, after Cantor Fitzgerald’s Kip Paulson today cut his rating on the shares to Neutral from Overweight, writing that the shares are now “fully valued,” but also wondering if the company might see some recurrence of problems it had in past with small business accounts. On the one hand, the cut in rating is just a reflection of the expansion of the stock’s valuation, writes Paulson: After a 81% jump in YELP since 5/9/17, when the company reported disappointing 1Q17 results (vs. 16% for the S&P 500), the stock is currently trading at 4.0x EV/revenue and 22.9x EV/EBITDA on our 2017 estimates, or 3.3x EV/revenue and 17.2x EV/EBITDA on our 2018 estimates. Given this rapid rise in share price, we believe YELP is now fairly valued vs. our DCF-derived $44 price target.
The $287.5 million all-cash deal will unite Yelp and GrubHub in a partnership that allows Yelp users to order online directly from GrubHub.
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The online review company posted an adjusted loss of 6 cents per share on revenue of $197.3 million in the first quarter.