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Yelp Rallies After Q1 Beat

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Yelp Inc. (NYSE: VELP ) shares are trading higher by $4.22 at $35.64 in Friday's session. the catalyst for the huge rally is a Q1 beat for EPS of $0.24 as well as $3M beat for revenues. The results were bolstered by strong gains in ad revenue.

The rally for the after-hours and premarket session has carried over into the regular session. After a higher open, it retreated to $23.66 before resuming its move higher.

So far, it has reached $25.88 and is not far off the level. That marks the highest level for the issue since it reached $25.90 on January 8.

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