Ultime notizie per Yelp (NYSE:YELP) Azioni

Yelp

Yelp Inc operates in the online content market based in the United States. It provides a web-based platform and mobile application to bridge the gap between businesses and consumers. The platform assists consumers through product reviews, tips, photos and videos thereby enabling them in making better buying decisions and posting their feedbacks. Its products and services includes Advertising Products and Business Page Products. In addition, it also lets the buyers directly transact with businesses directly through its platform. Yelp generates revenue mainly from the sale of advertising on its website and mobile app to businesses. The company generates majority of the revenue from United States.

Yelp Inc

In the preceding three months, 4 analysts have released ratings for Yelp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>), presenting a wide array of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Yelp, revealing an average target of $34.25, a high estimate of $38.00, and a low estimate of $30.00. This current average represents a 11.43% decrease from the previous average price target of $38.67. 
<img src="https://www.benzinga.com/files/images/story/2024/1728925233_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A comprehensive examination of how financial experts perceive Yelp is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Eric Sheridan</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$38.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Nitin Bansal</td>
<td>B of A Securities</td>
<td>Announces</td>
<td>Underperform</td>
<td>$30.00</td>
<td>-</td>
</tr>
<tr>
<td>Cory Carpenter</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$35.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Brian Nowak</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Underweight</td>
<td>$34.00</td>
<td>$32.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Yelp. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Yelp compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Yelp's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Yelp's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/YELP/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Yelp analyst ratings.</a>
<h2>Get to Know Yelp Better</h2>
Yelp Inc operates in the online content market based in the United States. It provides a web-based platform and mobile application to bridge the gap between businesses and consumers. The platform assists consumers through product reviews, tips, photos and videos thereby enabling them in making better buying decisions and posting their feedbacks. Its products and services includes Advertising Products and Business Page Products. In addition, it also lets the buyers directly transact with businesses directly through its platform. Yelp generates revenue mainly from the sale of advertising on its website and mobile app to businesses. The company generates majority of the revenue from United States.
<h3>Yelp: Financial Performance Dissected</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Yelp's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 5.9% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Communication Services sector.
Net Margin: Yelp's net margin excels beyond industry benchmarks, reaching 10.65%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Yelp's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.22% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Yelp's ROA excels beyond industry benchmarks, reaching 3.88%. This signifies efficient management of assets and strong financial health.
Debt Management: Yelp's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.09.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

YELP

Where Yelp Stands With Analysts

Goldman Sachs analyst Eric Sheridan downgrades Yelp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) from Buy to Neutral and lowers the price target from $46 to $38.

News

Downgrades

Price Target

Goldman Sachs Downgrades Yelp to Neutral, Lowers Price Target to $38

Groupon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grpn#NASDAQ">GRPN</a>) has seen its stock decline 25.2% year to date (YTD) against the Zacks Internet-Commerce industry&#39;s growth of 22.9%, the broader retail sector&#39;s return of 19.4% and the S&amp;P 500 index&#39;s rally of 20%.
GRPN, which has emerged as a two-sided global marketplace company, has been suffering from its weakening momentum in the international market. Unexpected site stability issues related to its cloud migration project have also been heavily affecting the company&#39;s performance.
Groupon&#39;s business model makes it heavily dependent on daily deals, which is a major headwind. Since most of the offerings are consumer discretionary products, demand is heavily dependent on macroeconomic conditions. Given this, the ongoing market uncertainties, persistent inflation, looming recessionary fears, changing consumer demand and spending patterns are dampening the company&#39;s near-term prospects.
<h2>Year-to-Date Price Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/40/80256.jpg?v=610392595" style="border-style:solid; border-width:1px" />
Image Source: Zacks Investment Research
GRPN&#39;s bearish guidance is a negative. For 2024, the company expects revenues between $495 million and $515 million, indicating a year-over-year change between (4%) and 0%. The Zacks Consensus Estimates for 2024 revenues is pegged at $514.51 million, implying a year-over-year decline of 0.1%.
The company operates in a highly competitive market, wherein it faces significant competition from the likes of Yelp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yelp#NYSE">YELP</a>), Rakuten, Travelzoo (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tzoo#NASDAQ">TZOO</a>) and Wowcher.
Groupon&#39;s solid momentum in its marketplace platform and strength in its e-commerce business model are major positives. Its large-scale global operations and growing relationship with third-party merchants reflect the company&#39;s upside potential, which bodes well for its long-term prospects.
Given the YTD dip in GRPN shares, investors are questioning whether this is the right time to buy the stock. Let us explore this in more detail.
<h2>E-commerce Strategies to Drive GRPN&#39;s Prospects</h2>
Groupon, through its e-commerce platform, offers numerous deals that can be accessed by users anywhere at any time.
GRPN&#39;s strategy to build a trusted marketplace, wherein customers purchase local services and experiences, is a major positive. For this, the company&#39;s growing efforts to build long-term relationships with local merchants to strengthen its inventory selection remain noteworthy.
It strives to deliver enhanced customer experience through inventory curation and improved convenience in order to boost purchase frequency on its platform.
To strengthen the platform, the company is lifting restrictions on its deeply discounted deals and is enabling customers to purchase such deals more than once to improve the frequency and drive growth in billings.
Growing momentum across the North America region has been driving growth in the company&#39;s Local segment, which contributes the most to GRPN&#39;s total revenues and remains crucial for its e-commerce business. In second-quarter 2024, Local revenues were $114.1 million (92% of total revenues), driven by North America Local revenues, which grew 7.3% year over year.
Groupon&#39;s long-term prospects rest upon its ability to offer more innovative products and build a broader Local e-commerce platform.&nbsp;
The company&#39;s strengthening supply drivers for North America Local are tailwinds. Groupon is witnessing growing traction among large enterprise merchants, thanks to expanding 
relationships with existing partners, and the addition of brands to the platform.
GRPN&#39;s initiatives to remove lower-quality deals from its site that do not align with the brand promise are a plus. Groupon also made substantial progress in curating its deals, with an enhanced presentation, improved deal copy and better images.
Solid demand for family-friendly activities, ranging from trampoline parks and bowling alleys to amusement parks and water parks, is another positive. The company expects to see continued growth in these areas in the days ahead.
Growing momentum in Groupon&#39;s latest initiative called Flash Sale, which was tested first in first-quarter 2024 with one enterprise merchant, is noteworthy. The Flash Sale concept boosted its performance and, hence, the company expanded this program in second-quarter 2024, running over a dozen flash sales with existing merchants to drive performance and boost engagement on its site. Although the initiative is fresh and new, it reflects the company&#39;s potential to expand its business by developing products to cross-sell and up-sell into its supply base.
Groupon&#39;s AI initiative is a major plus. AI integration has enabled it to improve the copywriting of its deals and deal creation process. It leverages AI on projects in product and engineering to improve deal recommendation and quality assurance. Improvements in enterprise sales organization and process changes, combined with value proposition changes, continue to contribute to growth in its enterprise accounts.
<h2>Upward Earnings Trend Paints Bright Picture for GRPN</h2>
Investors are turning bullish about Groupon&#39;s upside potential, which is reflected in the upward revisions in earnings estimates.
For 2024, the Zacks Consensus Estimate for earnings is pegged at 47 cents per share, whereas the company reported a 2023 loss of 52 cents. The estimate has been revised upward by 56.7% over the past 60 days.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/fa/80258.jpg?v=1264508241" style="border-style:solid; border-width:1px" />
Image Source: Zacks Investment Research
<h2>Attractive Valuation: A Silver Lining for GRPN</h2>
Groupon is currently trading at a discount with a forward 12-month Price/Sales of 0.7X compared with the industry&#39;s 1.72X and lower than the median of 0.84X. This indicates an excellent opportunity for investors.
GRPN also has a Value Score of B, which is hard to ignore.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/56/80257.jpg?v=1027816364" style="border-style:solid; border-width:1px" />
Image Source: Zacks Investment Research
<h2>Conclusion</h2>
Despite near-term hurdles, Groupon&#39;s strong marketplace, robust e-commerce business model, growing merchants base and solid supply drivers present a solid investment opportunity for growth-seeking investors.
Its attractive valuation and Growth Score of A make a compelling case for buying the GRPN stock at its current levels.
Groupon sports a Zacks Rank #1 (Strong Buy) at present.
<a href="https://www.zacks.com/stock/news/2345645/groupon-shares-decline-25-2-ytd-should-you-buy-the-dip-right-now?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2345645">To read this article on Zacks.com click here.</a>

Earnings

Mid Cap

Guidance

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Small Cap

Markets

Tech

Trading Ideas

GRPN

TZOO

Groupon Shares Decline 25.2% YTD: Should You Buy the Dip Right Now?

Yelp Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) filed an <a href="https://www.benzinga.com/markets/equities/24/08/40618625/yelp-launches-antitrust-battle-against-google-after-federal-ruling-declares-search-giant-a-monop">antitrust lawsuit against</a> Alphabet Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) subsidiary Google in August. According to BofA Securities, growing competition from online food delivery platforms is expected to keep putting pressure on Yelp&#8217;s growth.
Analyst Nitin Bansal initiated coverage of Yelp with an Underperform rating and a price target of $30.
The Yelp Thesis: Yelp&#8217;s usage is declining, as is evident from the platform&#8217;s shrinking user base, Bansal said in the initiation note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
According to Sensor Tower, Yelp mobile MAUs (monthly active users) have contracted by 70% since 2018 and are down 5% year to date, with the BrightLocal survey suggesting that alternate review platforms like Instagram and TikTok are becoming more popular, he added.
"The company also faces strong competition from Google that creates challenges in growing review share," the analyst wrote. He further stated that increasing competition in the Restaurant, Retail &amp; Other segment, which accounts for roughly a third of the company's total revenues, will continue to impact the platform&#8217;s growth outlook.
"We see downside risk to Street&#8217;s 2025/26 estimates and expect downward revisions to pressure multiple," Bansal said.
YELP Price Action: Shares of Yelp were down 3.1% to $33.35 at the time of publication on Monday.
Read More:<a href="https://www.benzinga.com/government/24/08/40169996/alphabet-loses-antitrust-suit-over-google-search-dominance-report"></a> <a href="https://www.benzinga.com/government/24/08/40169996/alphabet-loses-antitrust-suit-over-google-search-dominance-report">Alphabet Loses Antitrust Suit Over Google Search Dominance: Report</a>
Photo: Shutterstock

Initiation

Restaurants

GOOG

GOOGL

Yelp Faces Uphill Battle As Instagram, TikTok Take Over Review Space, Analyst Says

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e2ae9e3430dee0001c80e0c/cody-acree">Benchmark analyst Cody Acree</a> initiated coverage on Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) with a Hold rating. ARM Holdings shares gained 5.9% to close at $147.37 on Friday. <a href="https://www.benzinga.com/quote/ARM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>EF Hutton analyst Jason Kolbert initiated coverage on Immunic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMUX#NASDAQ">IMUX</a>) with a Buy rating and announced a price target of $17. Immunic shares gained 2% to close at $1.52 on Friday. <a href="https://www.benzinga.com/quote/imux/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst Amy Li initiated coverage on Biohaven Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHVN#NYSE">BHVN</a>) with a Buy rating and announced a price target of $57. Biohaven shares gained 6.5% to close at $38.08 on Friday.<a href="https://www.benzinga.com/quote/bhvn/analyst-ratings"> See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/591ed97f290fa70001e6c6a4/mohit-bansal">B of A Securities analyst Nitin Bansal</a> initiated coverage on Yelp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) with an Underperform rating and announced a price target of $30. Yelp shares gained 2.2% to close at $34.44 on Friday.<a href="https://www.benzinga.com/quote/yelp/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>HC Wainwright &amp; Co. analyst Raghuram Selvaraju initiated coverage on Coya Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COYA#NASDAQ">COYA</a>) with a Buy rating and announced a price target of $18. Coya Therapeutics shares rose 7.4% to close at $6.40 on Friday. <a href="https://www.benzinga.com/quote/coya/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying YELP stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="588" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16085332/image-121-1024x588.png" alt="" class="wp-image-549567" style="width:648px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16085332/image-121-1024x588.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16085332/image-121-300x172.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16085332/image-121-768x441.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16085332/image-121.png 1195w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li><a href="https://www.benzinga.com/markets/24/09/40860420/jim-cramer-hold-on-to-builders-firstsource-heres-the-problem-with-viking-therapeutics">Jim Cramer: &#8216;Hold On&#8217; To Builders FirstSource, &#8216;Here&#8217;s The Problem&#8217; With Viking Therapeutics</a></li>
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BHVN

COYA

IMUX

This Yelp Analyst Begins Coverage On A Bearish Note; Here Are Top 5 Initiations For Monday

B of A Securities analyst Nitin Bansal initiates coverage on Yelp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) with a Underperform rating and announces Price Target of $30.

B of A Securities Initiates Coverage On Yelp with Underperform Rating, Announces Price Target of $30

Vice President Kamala Harris has reportedly received public endorsements from eighty-eight current and former top executives across corporate America for her presidential bid.
What Happened: In an endorsement letter, shared exclusively with CNBC, suggests that electing Harris as president would be the &#8220;best way to support the continued strength, security, and reliability of our democracy and economy.&#8221; The endorsers believe that Harris would &#8220;continue to advance fair and predictable policies that support the rule of law, stability, and a sound business environment.&#8221;
The list of endorsers includes high-profile CEOs of public companies like Aaron Levie of Box Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>), Jeremy Stoppelman of Yelp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>), and Michael Lynton, chairman of Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), CNBC <a href="https://www.cnbc.com/2024/09/06/harris-endorsed-trump-murdoch-yelp-snap-ripple.html">reported</a> on Friday.
Other notable figures endorsing Harris for the first time include James Murdoch, former CEO of 21st Century Fox (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>), and Chris Larsen, co-founder of the Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>). The list also includes prominent philanthropists, private equity billionaires, and sports magnates.
See Also: <a href="https://www.benzinga.com/news/24/09/40700524/mark-cuban-tells-elon-musk-delete-your-account-after-tech-billionaire-calls-tucker-carlsons-latest-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Tells Elon Musk &#8216;Delete Your Account&#8217; After Tech Billionaire Calls Tucker Carlson&#8217;s Latest Episode On WW2 And Churchill &#8216;Worth Watching&#8217;</a>
Why It Matters: The endorsement from these business leaders comes at a crucial time as Harris has recently proposed several tax reforms that have stirred discussions in the business community. Harris announced a plan to <a href="https://www.benzinga.com/news/24/08/40650939/kamala-harris-wants-to-tax-the-ultra-wealthy-with-unrealized-gains-tax-leaving-silicon-valley-unsett">tax the ultra-wealthy</a> through an unrealized gains tax, causing unease among Silicon Valley investors. 
Additionally, Harris has proposed raising the <a href="https://www.benzinga.com/government/24/08/40451351/kamala-harris-wants-to-raise-corporate-tax-rate-to-28-erasing-part-of-trumps-signature-tax-cuts">corporate tax rate</a> to 28%, rolling back part of former President Donald Trump&#8217;s 2017 tax cuts. This proposal was revealed on Aug. 19 and aims to increase federal revenue.
On Sep. 4, Harris unveiled a new tax plan targeting <a href="https://www.benzinga.com/news/24/09/40722526/kamala-harris-reveals-28-capital-gains-tax-for-high-earners-toning-down-bidens-proposed-rates-ahead">long-term capital gains</a>, setting the rate at 28% for high earners. This move is seen as a softer approach compared to President Joe Biden&#8216;s previously proposed rates. 
Moreover, Harris has<a href="https://www.benzinga.com/markets/24/08/40113420/mark-cuban-and-other-venture-capitalists-pledge-support-for-kamala-harris-whos-on-the-list"> already received support</a> from notable venture capitalists, including LinkedIn co-founder Reid Hoffman and others.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40686379/trump-vs-harris-veteran-pollster-nate-silver-says-vice-president-slight-underdog-to-win-the-white-ho?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Veteran Pollster Nate Silver Says Vice President &#8216;Slight Underdog To Win The White House&#8217; Due To 3 Factors But This &#8216;Disruptive Event&#8217; Could Turn Things Around</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Politics

General

$XRP

FOXA

SNAP

Kamala Harris Receives Backing From 88 Corporate Leaders in Presidential Bid Against Trump: Report

Yelp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yelp#NYSE">YELP</a>) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
A company&#39;s changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for Yelp is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
<h2>Most Powerful Force Impacting Stock Prices</h2>
The change in a company&#39;s future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That&#39;s partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company&#39;s shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
For Yelp, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company&#39;s underlying business. And investors&#39; appreciation of this improving business trend should push the stock higher.
<h2>Harnessing the Power of Earnings Estimate Revisions</h2>
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
<h2>Earnings Estimate Revisions for Yelp</h2>
For the fiscal year ending December 2024, this online business reviews company is expected to earn $1.65 per share, which is a change of 22.2% from the year-ago reported number.
Analysts have been steadily raising their estimates for Yelp. Over the past three months, the Zacks Consensus Estimate for the company has increased 18.4%.
<h2>Bottom Line</h2>
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of &#39;buy&#39; and &#39;sell&#39; ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a &#39;Strong Buy&#39; rating and the next 15% get a &#39;Buy&#39; rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
The upgrade of Yelp to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
<a href="https://www.zacks.com/stock/news/2331630/yelp-yelp-upgraded-to-strong-buy-here-s-why?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_12_zacks_rank_upgrade-2331630">To read this article on Zacks.com click here.</a>

Upgrades

Yelp Upgraded to Strong Buy: Here's Why

Yelp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) has filed an antitrust lawsuit against Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) subsidiary Google, following a recent federal ruling that <a href="https://www.benzinga.com/government/24/08/40169996/alphabet-loses-antitrust-suit-over-google-search-dominance-report">labeled Google as an illegal monopolist</a>.
What Happened: Yelp accuses Google of maintaining its monopoly in local search services by favoring its vertical over competitors&#8217;. This, according to Yelp, has harmed competition and degraded the quality of local search services.
The lawsuit, <a href="https://trust.yelp.com/wp-content/uploads/2024/08/Yelp-v.-Google-Complaint-August-28-2024.pdf">filed</a> in the Northern District of California, demands that Google cease its allegedly anticompetitive conduct and seeks damages. Yelp has requested a jury trial.
&#8220;Google, the largest information gatekeeper in existence, abandoning its stated mission to deliver the best information available to its consumers and instead forcing its own low-quality local search content on them. Google's scheme prevents businesses from reaching customers without paying Google and starves competitors of the traffic and revenues that would allow them to achieve scale and pose a competitive constraint on Google's conduct,&#8221; the court filing said. 
Yelp&#8217;s CEO, Jeremy Stoppelman, <a href="https://www.nytimes.com/2024/08/28/technology/google-yelp-lawsuit.html?partner=slack&amp;smid=sl-share">told</a> The New York Times that the recent United States Department of Justice victory against Google&#8217;s exclusionary practices emboldened Yelp to file the lawsuit. Stoppelman noted a significant shift in antitrust enforcement.
Google spokesperson Peter Schottenfels dismissed Yelp&#8217;s claims as &#8220;not new,&#8221; stating that similar claims were previously rejected by the Federal Trade Commission and a judge in the DOJ&#8217;s case, the report said.
Yelp <a href="https://blog.yelp.com/news/yelp-v-google/">argues</a> that Google&#8217;s behavior ultimately harms consumers and advertisers by stifling competition and allowing Google to charge higher fees with minimal consequences.
&#8220;With&nbsp;our action, we aim to safeguard competition, protect consumer choice, recover damages, and prevent Google from engaging in anticompetitive practices so that innovation may flourish,&#8221; Stoppelman <a href="https://blog.yelp.com/news/yelp-v-google/">said</a> in a blog post. 
See Also: <a href="https://www.benzinga.com/news/24/08/40568404/google-chrome-to-trigger-vibrations-on-your-smartphone-when-you-do-this?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Google Chrome To Trigger Vibrations On Your Smartphone When You Do This</a>
Why It Matters: The lawsuit comes on the heels of a landmark ruling where a federal judge found <a href="https://www.benzinga.com/government/24/08/40169996/alphabet-loses-antitrust-suit-over-google-search-dominance-report">Google guilty of monopolistic practices</a> in the search engine market. The ruling, which determined that Google&#8217;s payments to make its search engine the default on smartphones violated antitrust laws, has set a precedent for other tech giants.
However, legal experts are divided on whether this ruling will impact ongoing antitrust cases against <a href="https://www.benzinga.com/markets/equities/24/08/40201751/will-google-antitrust-decision-affect-ongoing-lawsuits-against-apple-and-meta-legal-experts-are-">other major companies</a> like Apple Inc. and Meta Platforms Inc. Some believe it could influence similar lawsuits, while others remain skeptical.
Despite the ruling, analysts like Wedbush's Dan Ives suggest that a breakup of major tech companies is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40366001/big-tech-breakup-highly-unlikely-despite-googles-doj-antitrust-setback-says-wedbush">highly unlikely</a>. However, regulatory scrutiny is expected to increase, potentially leading to significant changes in business practices.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40594137/heres-what-nvidias-jensen-huang-had-to-say-about-amd-ceo-and-his-cousin-lisa-su?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Here&#8217;s What Nvidia&#8217;s Jensen Huang Had To Say About AMD CEO And His Cousin Lisa Su</a></li>
</ul>
Image via Unsplash
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Legal

AAPL

Yelp Launches Antitrust Battle Against Google After Federal Ruling Declares Search Giant A Monopolist

Wall Street Journal Reports Yelp Files Federal Antitrust Lawsuit Against Google In San Francisco; Suit Alleges Google Has Illegally Abused Monopoly In General Search To Dominate Local Search, Local Search Advertising Markets

JP Morgan analyst Cory Carpenter maintains Yelp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) with a Neutral and lowers the price target from $38 to $35.

JP Morgan Maintains Neutral on Yelp, Lowers Price Target to $35

After a blistering Thursday that saw the S&amp;P 500 close with its best session in nearly two years — up 2.3% — Wall Street&#8217;s price action turned sluggish on a Friday lacking <a href="https://www.benzinga.com/topic/interest-rates">market-moving economic events.</a>
By midday in New York, major indices were slightly positive or hovering around the flat line, signaling a slowdown in the bullish sentiment compared to the previous session.
Since the beginning of the week, the S&amp;P 500 is down 0.5%, with a few hours of trading left to determine whether the U.S. stock market can avoid closing in the red for the fourth consecutive week.
Meanwhile, there's a renewed demand for long-dated U.S. Treasury bonds, with yields declining by about 6 basis points on both the 10-year and 30-year notes. As a result, the popular iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rallied 1%, snapping a three-session losing streak.
The dollar slightly weakened, slipping 0.5% against the Japanese yen after three consecutive days of gains.
Traders now see nearly equal odds of a 50-basis-point or a 25-basis-point rate cut by the Federal Reserve in September, according to the CME Group&#8217;s FedWatch tool.
In commodities, oil is up 0.7%, with West Texas Intermediate (WTI) light crude poised for its third consecutive session of gains.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) plunged 2% after rallying nearly 12%, marking its best-performing day since February 2022.
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,329.24</td>
<td>0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,426.22</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,435.12</td>
<td>0.0%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,075.91</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
</figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.2% to $531.66.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was flat at $394.74.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% higher to $448.94.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.5% to $205.88.</li>
<li>The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, up by 0.4%. The Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) lagged, down by 0.2%.</li>
</ul>
<h1 class="wp-block-heading">Friday&#8217;s Stock Movers</h1>
<ul>
<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) climbed 1.5%, building on the previous day&#8217;s 11% surge following the announcement of a partnership with Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) to deliver advanced cloud, artificial intelligence, and analytics capabilities to U.S. defense and intelligence agencies. Shares of Palantir are on track to close at the highest level since February 2021.</li>
<li>Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) surged over 6% after several investment banks raised their price targets, following a strong earnings report last quarter. </li>
<li>Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) declined over 1% after revealing plans for thousands of job cuts, marking its second round of layoffs this year, as the company redirects its focus toward fast-growing sectors such as cybersecurity and artificial intelligence, Reuters reported.</li>
</ul>
Stocks reacting to company earnings are:
<ul>
<li>Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) up 10%,</li>
<li>CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>) up 18%, </li>
<li>Dropbox, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBX#NASDAQ">DBX</a>) up 2.3%,</li>
<li>elf Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) down 15%,</li>
<li>Evergy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>) down 0.7%,</li>
<li>Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) up 9%,</li>
<li>Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>) down 26%,</li>
<li>Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) down 3%,</li>
<li>Insulet Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>) down over 7%,</li>
<li>New Fortress Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>) down 26%,</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) up 0.5%,</li>
<li>Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) up 2.5%,</li>
<li>Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) up 9.7%,</li>
<li>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) up 11%,</li>
<li>Yelp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) up 2.6%. </li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40284699/wall-street-shifts-to-bossing-the-fed-into-big-rate-cuts-after-bank-of-japans-polic">Wall Street Shifts To &#8216;Bossing The Fed Into Big Rate Cuts&#8217; After Bank Of Japan&#8217;s Policy U-Turn, Analyst Says</a></li>
</ul>
Photo: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Large Cap

Bonds

Broad U.S. Equity ETFs

Commodities

Economics

Federal Reserve

ETFs

$BTC

AKAM

CARG

CSCO

SPDR Dow Jones Industrial Average ETF Trust

EVRG

EXPE

FIVN

GILD

MSFT

PARA

PLTR

PODD

SATS

iShares Trust Barclays 20+ Year Treasury Bond Fund

TTWO

Wall Street Momentum Stalls After Thursday's Rally, Palantir Jumps To 3-Year Highs, Bonds Rally: What's Driving Markets Friday?

Full-year outlook adjusted to $1.410 billion to $1.425 billion of Net Revenue and $325 million to $335 million of Adjusted EBITDA1

Yelp Sees FY24 Revenue $1.41B-$1.425B Vs $1.427B Est.

Yelp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) reported quarterly earnings of $0.54 per share which beat the analyst consensus estimate of $0.27 by 100 percent. This is a 157.14 percent increase over earnings of $0.21 per share from the same period last year. The company reported quarterly sales of $357.02 million which beat the analyst consensus estimate of $352.80 million by 1.20 percent. This is a 5.90 percent increase over sales of $337.13 million the same period last year.

Earnings Beats

Yelp Q2 EPS $0.54 Beats $0.27 Estimate, Sales $357.02M Beat $352.80M Estimate

Investor risk sentiment is showing greater conviction on Thursday, with all indices and major stock sectors in the green, after Wall Street failed to hold onto opening gains and closed in the <a href="https://www.benzinga.com/markets/equities/24/08/40237781/wall-street-ends-wednesday-in-the-red-as-risk-sentiment-remains-fragile-s-p-500-movers-at-the-cl">red the previous day.</a>
Weekly jobless claims numbers, which came in at 233,000 last week — a significant drop from the previous 250,000 and below the expected 240,000 — <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/08/40251833/weekly-unemployment-claims-decline-more-than-expected-cool-recession-concerns-stocks-r">helped ease recession fears. </a>
Additionally, the notable decline in weekly claims in Texas suggests that a one-off event like Hurricane Beryl might have contributed to the increase in claims and the July unemployment rate, thus alleviating fears of a more structural trend.
Technology stocks are leading the charge, with the Nasdaq 100 showcasing a 2.2% rally. Among tech stocks, semiconductors are shining, with AI-linked trade back on track after significant <a href="https://www.benzinga.com/markets/equities/24/08/40259139/tech-stocks-rally-after-5-day-slump-as-recession-panic-eases-nasdaq-100-movers-to-watch-thursday">sell-offs in recent days.</a>
The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) rallied 5.7%, returning above its 200-day moving average after falling below it last Friday. Industrial, consumer discretionary and energy stocks are also posting significant gains.
The dollar continues its recovery against the Japanese yen after being hit by the unwinding of the carry trade until Monday. The dollar-yen exchange rate is looking at its third consecutive day of gains, continuing to reflect the dovish remarks made by the <a href="https://www.benzinga.com/markets/asia/24/08/40223986/traders-resume-yen-dollar-carry-trade-as-bank-of-japan-pledges-no-rate-hikes-during-market-volatilit">Bank of Japan on Wednesday.</a>
Bonds, which alongside the yen were favored during past sessions marked by recession fears, are now retracing as yields rise across the Treasury curve. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) tumbled by 0.8% on Thursday, eyeing its third straight session of declines. The yield on the 10-year Treasury note surged by 5 basis points to 4%.
Commodities are showing solid gains, with gold and silver up by 1.5% and 3.5%, respectively. Oil is up 0.8%, with West Texas Intermediate (WTI) light crude returning above the $75 per barrel level.
Cryptocurrencies are soaring, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) posting a 7.9% daily gain, on track for its best session in about three months.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,267.70</td>
<td>2.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,285.21</td>
<td>1.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,063.97</td>
<td>1.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,231.86</td>
<td>1.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:44 p.m. ET</figcaption></figure>
<h1 class="wp-block-heading">According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:</h1>
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 1.7% to $527.46.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;increased by 1.2% to $392.63.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 2.4% to $445.17.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) gained 1.7% to $205.38.</li>
<li>All the sectors of the S&amp;P 500 saw gains, with the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) leading the way, up by 2.8%. The more defensive Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) witnessed the lowest surge, up by 0.4%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
Technology stocks rallying on improved risk sentiment are: 
<ul>
<li>Arm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) up 7.8%,</li>
<li>ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) up 7.1%,</li>
<li>Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) up 6.2%,</li>
<li>Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) up 6.1%,</li>
<li>KLA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) up 6%, </li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) up 5.9%</li>
</ul>
Stocks moving on earnings reports are: 
<ul>
<li>AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) up 9.9%</li>
<li>Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>) down 17%</li>
<li>Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>) down 31%</li>
<li>Cars.com Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARS#NYSE">CARS</a>) down 6%</li>
<li>CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>) up 7.2%</li>
<li>Fastly, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSLY#NYSE">FSLY</a>) down over 17%</li>
<li>Forward Air Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRD#NASDAQ">FWRD</a>) up nearly 22%</li>
<li>Hanesbrands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBI#NYSE">HBI</a>), up 15%</li>
<li>HubSpot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>) up 2.8%</li>
<li>Krispy Kreme, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DNUT#NASDAQ">DNUT</a>) up 14,</li>
<li>Marathon Oil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>) up 1.2%</li>
<li>Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>) down 11%</li>
<li>Papa John&#8217;s International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) up 2.5%</li>
<li>PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) up 7%</li>
<li>Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) down 0.5%</li>
<li>Restaurant Brands International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) up 2.3%</li>
<li>Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) up 2.22%</li>
<li>Under Armor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UA#NYSE">UA</a>) up 18%</li>
<li>Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) up nearly 37%</li>
<li>Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) down nearly 9%</li>
<li>Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/Z#NASDAQ">Z</a>) up nearly 19%. </li>
</ul>
Those reporting after the close are Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>), CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>), Dropbox, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBX#NASDAQ">DBX</a>), elf Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Insulet Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>), Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>), and Yelp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>).
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40257259/robinhood-is-doing-everything-right-analysts-focus-on-new-products-traders-taking-m">Robinhood Is Doing &#8216;Everything Right&#8217;: Analysts Focus On New Products, Traders Taking Market Share From Competitors</a></li>
</ul>
Photo: Shutterstock

Macro Economic Events

Treasuries

Econ #s

BLNK

BMBL

CARS

CYBR

DNUT

FSLY

FWRD

HOOD

HUBS

KLAC

MCHP

MNST

MRVL

PENN

PLUG

PZZA

SMCI

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

VSAT

Wall Street Rallies As Economic Concerns Recede, Tech Flexes Its Muscles, Semiconductors Soar: What's Driving Markets Thursday?

U.S. stocks are set for a mixed start on Thursday as concerns regarding the economy and incremental yen carry trade unwinding remain an undercurrent. Traders may be keen to receive the jobless claims report, given the recent sell-off kickstarted last Thursday, partly due to a spike in the data. <a href="https://www.benzinga.com/markets/equities/24/08/40247012/bumble-shares-are-down-almost-40-in-premarket-and-gen-z-millennials-are-to-blame-for-their-chang">Reactions to earnings news have been mixed.</a> The CBOE Volatility Index, aka VIX, has resumed its climb above the 28 level.
With the uncertainty around the economy and rate trajectory abounding, in the absence of any major polarizing catalysts, the market could see back-and-forth movement in the near term.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.08%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.02%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.18%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.32%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.05% to $518.90, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.10% to $435.22, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Last Session:
The sell-off resumed Wednesday as early optimism regarding the worst being behind gave way to fears, taking the averages on a steady decline throughout the session. The positive start came after the Bank of Japan reassured that rate hikes are not imminent but techs dragged the market lower, as Super Micro Computer, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) earnings miss weighed down on AI-levered stocks.
Reacting to Super Micros&#8217; results, fund manager Louis Navellier said, &#8220;This has brought concerns regarding the profitability of building&nbsp;out AI networks despite the massive spending by the Mega Tech companies.&#8221;
The tech-heavy Nasdaq Composite suffered the most as it pulled back to a three-month low, while the Dow Jones Industrial Average and the S&amp;P 500 Index held above Monday&#8217;s closing level. 
Small-caps also experienced a strong sell-off, with the Russell 2,000 settling at a one-month low.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-1.05%</td>
<td>16,195.81</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.77%</td>
<td>5,199.50</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.60%</td>
<td>38,763.45</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.41%</td>
<td>2,035.11</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> Insights From Analysts: </figcaption></figure>
Mike Wilson, Morgan Stanley's CIO and Chief US Equity, said in a podcast on Monday that he expects the markets to remain vulnerable in the near term until &#8220;we get better growth data or more comfort from Fed on policy support.&#8221; The strategist, however, does neither of these would be forthcoming soon.
He expects support to come from cheap valuations, although he doesn&#8217;t believe stocks have become so cheap to set in motion a buying spree. The S&amp;P 500 still traded at 20 times the forward 12-month earnings estimate, he said, adding that &#8220;things aren't actually cheap until we reach 17-18x, which is more than 10 percent away from where we are trading.&#8221;
Upcoming Economic Data:
<ul>
<li>The Labor Department&#8217;s jobless claims report due at 8:30 a.m. EDT is expected to show that the number of individuals claiming unemployment benefits may have come in at 240,000 for the week ended Aug. 3, down from 249,000 in the previous week.</li>
<li>The Commerce Department will release its wholesale inventories report for June at 10 a.m. EDT. Economists, on average, expect whole inventories to have increased by 0.2% month-over-month, slower than the 0.6% growth in May.</li>
<li>The Treasury will auction four- and eight-week notes at 11:30 a.m. EDT and 30-year bonds at 1 p.m. EDT.</li>
<li>Richmond Fed President Tom Barkin&nbsp;is scheduled to speak at 3 p.m. EDT.</li>
</ul>
See Also: How To Trade Futures
Stocks In Focus:
<ul>
<li> Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>) plunged about 40% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the online dating company&#8217;s quarterly results.</li>
<li>Other stocks reacting to earnings are Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>) (down over 9.50%), Fastly, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSLY#NYSE">FSLY</a>) (down over 22%), Forward Air Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRD#NASDAQ">FWRD</a>) (up nearly 18%), HubSpot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>) (up over 8%), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>) (down over 8%), Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) (up nearly 7%), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/Z#NASDAQ">Z</a>) (up nearly 12%) and Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) (down over 12%).</li>
<li>Cars.com Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARS#NYSE">CARS</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Hanesbrands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBI#NYSE">HBI</a>), Krispy Kreme, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DNUT#NASDAQ">DNUT</a>), Murphy Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUR#NYSE">MUR</a>), Papa John&#8217;s International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>), Restaurant Brands International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) and Under Armor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UA#NYSE">UA</a>) are among the key companies due to <a href="https://www.benzinga.com/calendars/earnings">release their earnings reports ahead of the market opening</a>.</li>
<li>Those reporting after the close are Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>), CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>), Dropbox, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBX#NASDAQ">DBX</a>), e.l.f. Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Insulet Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>), Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>), and Yelp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures were little changed after the advances in the previous two sessions, with a barrel of WTI-grade crude oil trading at the $75+ level. Gold futures were modestly higher. The 10-year Treasury note yield rose 5.4 points to 3.914%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was little changed above the $57K level.
Most Asian markets fell on Thursday, as stocks in the region tracked the negative performance of Wall Street overnight. Japan&#8217;s Nikkei 225 average led the declines, although the Chinese and Hong Kong markets ended little changed.
European stocks are declining in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40212775/move-over-yen-yuan-carry-trades-could-be-next-ticking-bomb-warns-strategists-but-it">Move Over Yen, Yuan Carry Trades Could Be Next Ticking Bomb, Warns Strategists: &#8216;But It&#8217;s Below The Danger Levels We Monitor&#8217;</a></li>
</ul>
Image Via Shutterstock

Futures

Previews

Movers

Wall Street Set For Uneventful Start Ahead Of Jobless Claim Data, VIX Rises: Strategist Says Market May Remain Vulnerable Until...

Morgan Stanley analyst Brian Nowak maintains Yelp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) with a Underweight and raises the price target from $32 to $34.

Morgan Stanley Maintains Underweight on Yelp, Raises Price Target to $34

<ul>
<li>In this Summer Ad Release we&rsquo;re introducing:A suite of features to help multi-location services businesses generate and manage high-intent leads &mdash; including Request a Quote for Brands, Yelp Guaranteed, Verified License, and Portfolio.&nbsp;</li>
<li>New and expanded ad formats and measurement tools for national advertisers, including enhancements to Spotlight video ads, the expansion of Yelp Audiences for audio platforms, and a new conversion API that improves advertiser measurement.</li>
</ul>

Yelp Introduces Request A Quote For Brands And Unveils A Series Of New Updates For National Advertisers

Booking Holdings Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bkng#NASDAQ">BKNG</a>) subsidiary OpenTable partnered with Visa (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/v#NYSE">V</a>) to launch The OpenTable &amp; Visa Dining Collection.
The collection provides Visa cardholders with exclusive access to restaurant reservations and events at numerous local restaurants in the United States, Canada and Mexico.
Diners who make their reservations with OpenTable will receive rewards for paying with their Visa cards. Eligible cardholders will also have access to exclusive culinary events featuring rising star chefs.
Booking Holdings is expected to gain solid popularity among Visa cardholders on the back of its latest partnership.
Moreover, it will enable BKNG to capitalize on the solid growth opportunity present in the restaurant reservations software market, which, per a Market Research Intellect report, is expected to hit $24.5 billion by 2031, witnessing a CAGR of 10.13% between 2024 and 2031.
<div class="chart_embed">
<h3>Booking Holdings Inc. Price and Consensus</h3>
<img alt="Booking Holdings Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/30/1721223800.png" style="height:272px; width:620px" title="" />
Booking Holdings Inc. price-consensus-chart | Booking Holdings Inc. Quote
</div>
<h3>Competitive Advantage</h3>
This OpenTable-Visa partnership will also place this Zacks Rank #3 (Hold) company at a competitive advantage against players like TripAdvisor (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trip#NASDAQ">TRIP</a>) and Yelp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yelp#NYSE">YELP</a>), which are also making concerted efforts to strengthen their foothold in the restaurant reservations software market.
TripAdvisor is gaining solid momentum across its restaurant booking platform, TheFork. TheFork offers a revenue management tool for restaurant businesses, leveraging its expertise in yield management to optimize reservation management and occupancy rate, increase bookings and visibility, fight no-shows, manage payments and streamline operations while connecting to the broadest community of loyal diners.
Yelp, on the other hand, is benefiting from Yelp Guest Manager, which allows restaurants to communicate and share updates with new and existing customers. It also enables business owners to access their restaurant&#39;s online table management from any device, allowing them to edit reservations and assignments remotely.
<h3>Expanding Partnerships Aid Customer Momentum</h3>
The latest move is in sync with BKNG&#39;s growing efforts to boost its clientele on the back of expanding partnerships, which remains a key growth driver for the company. Its shares have gained 16.7% in the year-to-date period, outperforming the Retail-Wholesale sector&#39;s 13.2% growth.
Booking Holdings&#39; subsidiary, Agoda, partnered with the Taipei City Government Department of Information and Tourism to serve as the Official Accommodation Partner for the World Masters Games (WMG).
Per the terms of the deal, Agoda now offers a dedicated booking page for the WMG, simplifying accommodation searches for competitors and visitors. This partnership will aid Booking Holdings in gaining solid customer momentum in Asia.
Agoda also partnered with DBS to introduce a reward points redemption system for Hong Kong customers, enhancing their access to value travel deals. The deal allows Agoda&#39;s Hong Kong customers holding DBS$ and COMPASS Dollar credit cards to experience a seamless redemption while making hotel payments at the site, allowing insufficient point holders to reduce their booking costs.
This partnership will aid Booking Holdings to gain solid momentum across DBS customers in Hong Kong, further expanding its customer base in Asia.
<h3>Conclusion</h3>
BKNG&#39;s expanding clientele on the back of a growing partner base and its strong competitive position bode well for its near-term growth prospects.
Moreover, its robust product portfolio, strong momentum across the merchant, advertising and other businesses, growing alternative accommodation business and flight capabilities remain positives.
These factors are expected to continue driving the overall financial performance of the company in the near term.
The Zacks Consensus Estimate for 2024 revenues is pegged at $23.09 billion, indicating year-over-year growth of 8.05%.
The consensus mark for 2024 earnings is pegged at $178.54 per share, indicating a 17.3% rise from the year-ago figure. The figure has been revised upward by 0.01% in the past seven days.
<a href="https://www.zacks.com/stock/news/2303699/booking-holdings-bkng-teams-up-with-visa-to-aid-diners?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2303699">To read this article on Zacks.com click here.</a>

Events

BKNG

TRIP

Booking Holdings Teams Up With Visa to Aid Diners

Wolfe Research analyst Shweta Khajuria initiates coverage on Yelp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) with a Peer Perform rating.

Wolfe Research Initiates Coverage On Yelp with Peer Perform Rating

The internet industry is thriving due to growing demand for digital platforms and increasing digital transformation across industries. Amid this, let's compare internet stocks Yelp (YELP) and Match Group. (MTCH) to analyze which internet content stock could be a better buy. Read on to find out… The <a href="https://www.businessresearchinsights.com/market-reports/internet-service-market-104518">rapid digital transformation of businesses</a> across nearly all global industries is fueling significant expansion in the internet services market. Key factors contributing to this growth include the surge in e-commerce, the digitization of healthcare, increasing consumption of online entertainment, and government initiatives in e-governance.
An increasing number of people around the world are getting connected to the internet. According to Statista, as of July 2024, there were <a href="https://www.statista.com/statistics/617136/digital-population-worldwide/">5.45 billion internet users</a>, which accounted for 67.1% of the global population. Moreover, there are a few emerging nations that could add to the internet population significantly.
Against this backdrop, let's compare two internet stocks to analyze which internet content stock is a better buy: Yelp Inc. (<a href="https://stocknews.com/stock/YELP/">YELP</a>) and Match Group, Inc. (<a href="https://stocknews.com/stock/MTCH/">MTCH</a>).
The Case for Yelp Inc. Stock
With a $2.3 billion market cap, Yelp Inc. (<a href="https://stocknews.com/stock/YELP/">YELP</a>) operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.
On July 23, 2024, YELP announced its Summer Ad Product Release to deliver more value to service businesses and national advertisers with a series of new features and updates.
The company rolled out features and updates for multi-location service businesses to help them seamlessly generate and manage high-intent leads, including Request a Quote for Brands with a new Leads API, and extended YELP Guaranteed, Verified License, and Portfolio to national services businesses.
YELP's stock has plunged 19.6% over the past year to close the last trading session at $33.82.
YELP's forward <a href="https://www.investopedia.com/terms/e/ev-ebitda.asp">EV/EBITDA</a> of 5.88x is 25.4% lower than the industry average of 7.89x. Its forward EV/Sales multiple of 1.37 is 28.3% lower than the industry average of 1.91.
For the fiscal second quarter that ended June 30, 2024, YELP's net revenue grew 5.9% year-over-year to $357.02 million. YELP's net income attributable to common stockholders stood at $38.04 million or $0.54 per share, up 158.2% and 157.1% year-over-year, respectively.
Analysts expect YELP's revenue for the third quarter (ending September 2024) to increase 4.5% year-over-year to $360.54 million. Likewise, its EPS for the same quarter is projected to be $0.84. Moreover, the company has topped consensus estimates in each of the trailing four quarters, which is excellent.
YELP's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its promising outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
The stock has an A grade for Value and Quality. YELP is ranked #3 out of 51 stocks in the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry.
In addition to the POWR Ratings I've just highlighted, you can see YELP's ratings for Growth, Momentum, Sentiment, and Stability <a href="https://stocknews.com/stock/YELP/">here</a>.
The Case for Match Group, Inc. Stock
Valued at $9.08 billion by market cap, Match Group, Inc. (<a href="https://stocknews.com/stock/MTCH/">MTCH</a>) engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty of Fish, Azar, BLK, and Hakuna, as well as various other brands, each built to increase users' likelihood of connecting with others.
MTCH's stock has gained 2.3% over the past month to close the last trading session at $35.19.
MTCH's forward EV/EBIT of 14.49x is 3.9% lower than the industry average of 15.08x. However, its forward EV/Sales of 3.45x is 80.7% higher than the industry average of 1.91x.
MTCH's revenue for the fiscal second quarter ended June 30, 2024, increased 4.2% year-over-year to $864.07 million. In contrast, its net earnings decreased 2.9% year-over-year to $133.32 million. Additionally, the company's net earnings per share attributable to MTCH remained flat at $0.48.
Analysts expect MTCH's EPS for the quarter ending September 2024 to increase 4.4% year-over-year to $0.78, while its revenue for the same quarter is expected to increase 2.3% year-over-year to $901.88 million. It surpassed Street revenue estimates in each of the trailing quarters.
MTCH's mixed fundamentals are reflected in its POWR Ratings. The stock has an overall C rating, translating to Neutral in our proprietary rating system.
MTCH has a C grade for Stability and Momentum. It is ranked #30 among 51 stocks in the same industry.
<a href="https://stocknews.com/stock/MTCH/">Click here</a> for the additional POWR Ratings for MTCH (Quality, Value, Sentiment, and Growth).
Yelp Inc. (YELP) vs. Match Group (MTCH): Which Internet Content Stock Is a Better Buy?
The global market for internet services has grown dramatically as a result of the growing adoption of digital technologies such as AI, IoT, cloud computing, data analytics, and social media across a variety of industry verticals. 
Leading internet companies YELP and MTCH stand to capitalize on the optimistic industry outlook. However, YELP's strong financial performance, cheap valuation and promising near-term outlook favor it as the better internet content stock pick.
Our research shows that the odds of success increase when one invests in stocks with an Overall Rating of Strong Buy or Buy. View all the top-rated stocks in the Internet industry <a href="https://stocknews.com/category/internet/">here</a>.
What To Do Next?
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MTCH shares were trading at $36.56 per share on Monday afternoon, up $1.37 (+3.89%). Year-to-date, MTCH has gained 0.16%, versus a 18.09% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Nidhi Agarwal</h2> <img src='https:/wp-content/uploads/2023/03/Nidhi-Agarwal_Headshot-3.jpg' style="float:left; padding:5px;width:125px;">Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor's degree in finance and marketing and is pursuing the CFA program.

Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities.<a href="https://stocknews.com/authors/?author=nidhi-agarwal">More...</a>The post <a href=https://stocknews.com/news/mtch-yelp-yelp-inc-yelp-vs-match-group-mtch-which-internet-content/>Yelp Inc. (YELP) vs. Match Group (MTCH): Which Internet Content Stock Is a Better Buy?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Yelp Inc. (YELP) vs. Match Group (MTCH): Which Internet Content Stock Is a Better Buy?

South Korea's e-commerce giant, Coupang (CPNG), has surged over 40% this year. Yet, despite this impressive rally, a decline in bottom-line performance raises concerns, leaving investors wondering: Can CPNG keep up its momentum? Read on to find out... Founded in 2010 by Bom Kim, a former Harvard Business School student, Coupang, Inc. (<a href="https://stocknews.com/stock/CPNG/">CPNG</a>) has rapidly become South Korea's e-commerce leader, often earning the title of the "Amazon of South Korea." Shares of CPNG have soared 46.5% over the past nine months and 42.1% year-to-date to close the last trading session at $23.
A question lingers in investors' minds despite this impressive run: can Coupang sustain its upward momentum?
While Coupang's financials have shown mixed signals recently, its second-quarter revenue came in at $7.32 billion, slightly missing the anticipated $7.39 billion. However, on the bright side, its adjusted <a href="https://www.investopedia.com/terms/e/eps.asp">earnings per share</a> of $0.07 exceeded the expected break-even point, delivering a $0.07 surprise.
"This quarter, we continued to see deeper levels of engagement from our customers, powered by our relentless focus on providing even greater levels of selection, service, and savings for customers," said CPNG's CFO Gaurav Anand.
Let's look at factors that could influence CPNG's performance in the upcoming months.
Mixed Financials
In the second quarter of 2024, which ended on June 30, CPNG's net revenue increased 25% year-over-year (or 18% excluding the impact of Farfetch) to $7.32 billion. The company's Product Commerce Active Customers also increased by 12%, reaching 21.7 million, while revenue per active customer rose 5% on a constant currency basis.
Moreover, its gross profit grew 41% year-over-year to $2.14 billion, with a gross margin of 29.3%. CPNG's adjusted EBITDA increased 10% from the year-ago value to $330 million.
However, the company reported an operating loss of $25 million, compared to an operating income of $148 million in the prior year's quarter. In addition, its adjusted attributable net income decreased 14.5% year-over-year to $124 million, and adjusted earnings per share came in at $0.07, down 12.5% year-over-year. CPNG's cash outflow from operating activities declined 33.7% year-over-year to $876 million. 
Mixed Analyst Estimates
Analysts expect CPNG's revenue for the third quarter (ending September 2024) to increase 24.8% year-over-year to $7.72 billion. However, the consensus EPS estimate of $0.01 for the same period indicates a 77.7% year-over-year decline.
Similarly, for the fiscal year ending December 2024, CPNG's revenue is expected to grow 24.4% from the prior year to $30.34 billion, while its EPS for the current year is forecasted to be negative at $0.01.
Stretched Valuation
In terms of forward EV/Sales, CPNG is trading at 1.30x, 7.6% higher than the industry average of 1.21x. Likewise, its forward Price/Sales of 1.36x is 56.8% above the industry average of 0.87x. Furthermore, the stock's forward EV/EBITDA and EV/EBIT multiple of 40.75 and 88.76 compares with the industry averages of 9.76 and 14.24, respectively.
Mixed Profitability
CPNG's trailing-12-month ROCE and ROTA of 31.73% and 6.92% are 175.8% and 69.9% higher than their respective industry averages of 11.50% and 4.08%. Likewise, its trailing-12-month asset turnover ratio of 2.10x is 112.3% above the industry average of 0.99x.
However, the stock's trailing-12-month EBIT and levered FCF margins of 1.14% and 3.95% are below their industry averages by 85.6% and 22.7%, respectively. In addition, the stock's 2.95% trailing-12-month ROTC is 51.7% lower than the 6.11% industry average.
POWR Ratings Exhibit Mixed Prospects
CPNG's stance is apparent in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, which translates to Neutral in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. CPNG has a B grade for Momentum is justified by its share price, which is currently trading above its 50-day moving average of $21.64 and 200-day moving average of $19.31.
However, with a five-year beta of 1.10, the stock has earned a grade C for Stability. Also, the stock's C grade for Sentiment is consistent with its mixed analysts' estimates.
CPNG is ranked #42 out of 52 stocks in the B-rated <a href="https://stocknews.com/category/internet/">Internet</a> industry. <a href="https://stocknews.com/stock/CPNG/">Click here</a> to access CPNG's Growth, Value, and Quality ratings.
Bottom Line
CPNG remains dominant in South Korea's e-commerce space, but its latest financials raise concerns. While the company exceeded earnings expectations, it missed revenue and customer growth estimates, causing its stock to drop 4.5% immediately following the results. Despite improvements in operational efficiency and adoption of AI-driven automation, the decline in bottom-line performance and mixed analyst forecasts highlight the company's ongoing challenges.
Considering CPNG's higher-than-industry valuation, enhanced volatility, and a slowing retail market in South Korea, it could be wise to wait for a better entry point in this stock now.
How Does Coupang, Inc. (CPNG) Stack Up Against Its Peers?
While CPNG has an overall grade of C, equating to a Neutral rating, you may also check out these A (Strong Buy) or B (Buy) rated stocks within the <a href="https://stocknews.com/category/internet/">Internet</a> industry: Meituan (<a href="https://stocknews.com/stock/MPNGY/">MPNGY</a>), Dingdong (Cayman) Limited (<a href="https://stocknews.com/stock/DDL/">DDL</a>), and Yelp Inc. (<a href="https://stocknews.com/stock/YELP/">YELP</a>). To explore more Internet stocks, <a href="https://stocknews.com/category/internet/">click here</a>.
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CPNG shares were trading at $23.40 per share on Wednesday afternoon, up $0.40 (+1.74%). Year-to-date, CPNG has gained 44.53%, versus a 16.20% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/cpng-mpngy-ddl-yelp-can-coupang-keep-up-its-momentum-as-south-koreas-e-commerce/>Can Coupang Keep up Its Momentum as South Korea's E-Commerce Giant?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Can Coupang Keep up Its Momentum as South Korea's E-Commerce Giant?

The gig is up and in a good way! The global gig economy is set to surge to nearly $2 trillion by 2031. With increasing demand for flexible work and rising global participation, platforms like Fiverr International (FVRR) are leading the charge. Read on to explore why this stock is worth watching as the gig economy expands. The gig economy has been on an unstoppable rise, thanks to the rise of tech-driven freelance marketplaces and on-demand services. What started with ride-sharing apps has now become a full-fledged marketplace for virtually every service imaginable (from food delivery and groceries to finding a plumber or a graphic designer), all with just a few taps on your smartphone.
As digital technologies advance and the work-from-anywhere trend becomes the norm, the gig economy continues to expand. In the past two years alone, about 35 venture-backed companies have raised nearly $800 million, underscoring this space's booming interest and potential. Developing economies also see a surge in gig participation, further fueling this growth.
In this evolving landscape, should you keep an eye on Fiverr International Ltd. (<a href="https://stocknews.com/stock/FVRR/">FVRR</a>)? Let's find out.
Fiverr is a bustling freelance marketplace where people can hire talent from web design to video production, with job postings starting as low as $5. The platform charges a commission on each transaction and offers various subscription options for buyers and sellers. Freelancers on Fiverr can even turn their gigs into full-time careers.
During the Q2 earnings call, CEO Micha Kaufman shared that the company has navigated a challenging macro environment by maintaining operational excellence and delivering profitable growth. He stated, "We've made remarkable strides in our product evolution with the introduction of profession-based catalog and hourly contracts."
Although FVRR saw a dip in traffic in mid-2024, especially in the programming and tech sectors, the company remains optimistic. "Despite a 7% year-over-year decline in U.S. job openings and a 17% drop in the information sector, AI continues to drive growth for Fiverr, particularly in complex services, and is expected to be a growth driver moving forward", Kaufman added.
Shares of FVRR have gained 13.1% over the past six months to close the last trading session at $24.81.
Now, let's look at factors that could influence FVRR's performance in the upcoming months:
Positive Developments
On July 31, FVRR announced <a href="https://investors.fiverr.com/news-releases/news-release-details/fiverr-deepens-ecommerce-solutions-acquisition-leading">the acquisition of AutoDS</a>, a subscription-based drop-shipping platform. AutoDS, which offers tools for product research, inventory management, and automated fulfillment, is expected to significantly boost FVRR's eCommerce capabilities while introducing a new, recurring revenue stream through subscriptions.
Kaufman said the acquisition of AutoDS, which manages over 150 million products and serves tens of thousands of subscribers, supports the company's transition from a marketplace to a platform offering talent and software solutions. Moreover, with the global drop-shipping market expected to soar from $285 billion to over <a href="https://www.oberlo.com/statistics/dropshipping-market">$2 trillion by 2033</a>, AutoDS' automation tools and expansive network are set to enhance FVRR's position in the growing digital services space.
In addition to the acquisition, the company also rolled out new features, including a profession-based <a href="https://www.fiverr.com/news/summer_product_release_2024">catalog and hourly contracts</a>. These additions are designed to expand its market presence and further align with its goal of becoming a full-service platform for talent and software.
Solid Financial Performance
For the second quarter that ended June 30, 2024, FVRR reported revenue of $94.66 million, up 5.9% year-over-year and slightly above the analyst's estimate of $94.63 million. Its non-GAAP gross profit increased by 6.2% year-over-year to $79.93 million, with a margin of 84.4%.
Further, the company's <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> rose 16.8% from the year-ago value to $17.85 million, while its cash outflow from operating activities grew 11.9% from the prior year's quarter to $20.97 million. FVRR's non-GAAP net income amounted to $23.83 million and $0.58 per share, reflecting an increase of 18.9% and 18.4%, respectively, from the same quarter last year.
Also, its free cash flow stood at $20.66 million, up 12.5% year-over-year. Additionally, its cash and cash equivalents increased to $188.73 million as of June 30, 2024, compared to $183.67 million as of December 31, 2023.
Favorable Analyst Estimates
The consensus revenue estimate of $96.39 million for the fiscal third quarter (ending September 2024) represents a 4.2% increase year-over-year. The consensus EPS estimate of $0.61 for the current quarter indicates a 10.1% improvement year-over-year. The company has an excellent earnings surprise history, surpassing the consensus EPS estimates in each of the trailing four quarters.
For the fiscal year ending December 2024, the company's EPS is anticipated to grow 20% year-over-year to $2.34, while its revenue is expected to increase 6.6% from the prior year period to $385.17 million.
In addition, Street expects its revenue and EPS for the fiscal year 2025 to grow 9.8% and 10.5% from the same period last year to $423.02 million and $2.59, respectively.
Lower-Than-Industry Valuation
In terms of forward non-GAAP P/E, FVRR is currently trading at 10.52x, 45.4% lower than the industry average of 19.28x. Similarly, the stock's forward EV/EBIT and EV/EBITDA multiples of 9.32 and 8.74 are 41.3% and 23.5% lower than the industry averages of 15.88x and 11.42x, respectively.
Additionally, the stock's 1.63x forward EV/Sales is 10.4% lower than the industry average of 1.82x.
High Profitability
FVRR's trailing-12-month gross profit margin of 83.34% is 165.7% higher than the 31.36% industry average. Likewise, its trailing-12-month levered FCF margin of 18.49% is 181.8% higher than the industry average of 6.56%.
POWR Ratings Reflect Promise
FVRR's promising outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to Buy in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories.
FVRR boasts an A grade for Growth, consistent with its solid financial performance in the last reported quarter. Additionally, its B grade for Value and Quality is in sync with its discounted valuation and robust profitability.
The stock is ranked #7 in the <a href="https://stocknews.com/category/internet/">Internet</a> industry. <a href="https://stocknews.com/stock/FVRR/">Click here</a> to access FVRR's Momentum, Stability, and Sentiment ratings.
Bottom Line
The global gig economy isn't just a passing trend; it's on track to become a <a href="https://ssir.org/articles/entry/gig-economy-startups-workers#:~:text=The%20global%20gig%20economy%20is,workers'%20increasing%20demands%20for%20flexibility.">nearly $2 trillion</a> industry by 2031. With a global job shortage and the rising demand for flexible work, gig platforms are thriving. As of March 2024, <a href="https://institute.bankofamerica.com/content/dam/economic-insights/consumer-morsel-gig-economy-is-up.pdf">over 3.8%</a> of Bank of America customers received income from gig platforms, surpassing previous highs. Moreover, the share of gig workers earning monthly income has steadily increased since 2021, underscoring the increasing commitment to freelance work.
As the gig economy continues to grow, FVRR is well-positioned to benefit. With strong financials, increasing profitability, and a bright long-term growth outlook, it could be wise to invest in this stock.
How Does Fiverr International Ltd. (FVRR) Stack Up Against Its Peers?
While FVRR has an overall grade of B, equating to a Buy rating, you may also check out these other stocks within the <a href="https://stocknews.com/category/internet/">Internet</a> industry: Meituan (<a href="https://stocknews.com/stock/MPNGY/">MPNGY</a>), Dingdong (Cayman) Limited (<a href="https://stocknews.com/stock/DDL/">DDL</a>), and Yelp Inc. (<a href="https://stocknews.com/stock/YELP/">YELP</a>), carrying A (Strong Buy) or B (Buy) ratings. To explore more Internet stocks, <a href="https://stocknews.com/category/internet/">click here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

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FVRR shares were trading at $25.40 per share on Friday afternoon, up $0.79 (+3.21%). Year-to-date, FVRR has declined -6.69%, versus a 19.17% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/fvrr-mpngy-ddl-yelp-is-fiverr-a-good-stock-to-watch-as-gig-economy/>Is Fiverr a Good Stock to Watch as Gig Economy Expands?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is Fiverr a Good Stock to Watch as Gig Economy Expands?

Analysts split on Yelp's growth outlook as services viewed as panacea to declining margins

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For the past 20 years, Yelp has been providing a platform for people to share their experiences at businesses ranging from bars to barbershops. But users still have a tough time discerning a fake review from a real one.

As Yelp Turns 20, Online Reviews Continue To Confound And Confuse Shoppers

DoJ to propose measures for Google to restore online search competition - Reuters

U.S. considers breakup of Google in landmark antitrust case

DoJ mulls breakup of Google in Search antitrust case (update)

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Autohome Inc. American Depositary Shares, each representing four class A ordinary shares.

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