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Yelp Upgraded to Market Outperform by JMP Securities

Yelp Inc (NYSE:YELP) shares are positively trading this morning on news of an upgrade from JMP Securities. The online review site was upgraded to Market Outperform from Market Perform with a price target of $113 a share. According to JMP Securities, “Yelp is at the center of three transformational trends across the Internet—Mobile, Social, and Local—and we believe these trends will continue to provide a tailwind for the company.” In addition, JMP Securities believes that Yelp is on a trajectory that will yield tremendous revenue and margin growth in the future. Moreover, Yelp’s initiative to expand its international presents is another reason for the positive review.