Yelp (YELP) : Traders are bullish on Yelp (YELP) as it has outperformed the S&P 500 by a wide margin of 29.16% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.24%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.21% in the last 1 week, and is up 29.66% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Yelp Inc. is up 53.02% in the last 3-month period. Year-to-Date the stock performance stands at 33.89%. The stock has recorded a 20-day Moving Average of 15.03% and the 50-Day Moving Average is 25.93%.
Yelp (NYSE:YELP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $37.54 and $37.39 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $38.64. The buying momentum continued till the end and the stock did not give up its gains. It closed at $38.56, notching a gain of 2.28% for the day. The total traded volume was 2,650,855 . The stock had closed at $37.70 on the previous day.
Also, Equity Analysts at the Mizuho Securities upgrades the rating on Yelp (NYSE:YELP). The brokerage firm has issued a Buy rating on the shares. The shares were previously rated Neutral. The rating by the firm was issued on August 10, 2016.
Yelp Inc. (Yelp) connects people with local businesses by bringing word of mouth online and providing a platform for businesses and consumers to engage and transact. The Company provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engage directly with businesses, through reviews and its Message the Business feature. The Company has a range of communities of contributors across the world that contributes the content on its platform. These contributors provide firsthand information about local businesses in the form of reviews and ratings, tips, photos and videos. In addition to the business listing and advertising products, the Company also offers a range of features and consumer-interactive tools to facilitate transactions between consumers and the local businesses they find on Yelp.