Stocks to Buy based on the Best Stock Market Research
Shares of Yelp (YELP) are higher by 2.8% to $85.80 this morning after JMP Securities upgraded the stock with a $113 price target. The firm cities margin expansion and rapid international growth. Jefferies also raised their price target on Yelp to $100 from $87 citing the positive deal with YP.com.
Yelp (YELP) has been selling off with all of the momentum stocks lately as investors take profits after a 110% rally since last summer. Yelp (YELP) will report earnings in early May but watch out for these resistance levels moving forward. I have a $105 price target for 2014 and a $130 price target for 2015.
Yelp (YELP) resistance levels - $86.84, $88.21, $91.49, $94.55, $97.49
Replies to This Discussion
Hovering $80, this must be a great opportunity to scoop up some YELP! What ya think Tim?
For those that missed the boat last year, It's a great opportunity for sure. We might even see a rally back to $87-$90 before earnings.
Yelp breaking back above $80. Think the selling is done for a second or two and may be in oversold territory and ready for a break to the upside!
There was a big seller since Friday who probably was holding on margin and just wanted to take some risk off.
YELP was holding around $80 but then FB & TWTR began tanking so investors sold it down to $77
I think YELP is extremely undervalued right now and way oversold. I bought in at $78 and will buy a huge chunk if it makes it down to $75. I would assume this is end of the quarter adjustments, but that's just a guess. STB, any thoughts?? I feel like this is a screaming buy right now and if there is any good news or earnings are stellar, this think can pop back to $90-100 in a heart beat.
I totally agree.....there is quarter end window dressing which is to sell them off the books by the end of the day on Monday. If they beat and raise, straight back to $90.
I am with you Phil and STB, just started a small swing position around 75.6, will add if it goes lower. All momentum stocks are being hammed, looks like end of quarter activity. YELP has been one them stocks that was hit harder, but it tends to recover fast, let's hope the pattern continues.
YELP rising back above $80 today
Anyone see the article out on YELP that it received 2,000 complaints since 2008? How is that sinking the stock? Microsoft gets 2,000 complaints an hour! This stock is in a very weird up and down state right now!
It's all noise, long term YELP will be 100-200% higher than this down the road. Bad businesses receive bad reviews, and then they complain. Yelp is just a platform for consumers to review a business. It's not Yelp's fault they are not running their business correctly.