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Here’s why Goldman Sachs upgraded Yelp Inc. (NYSE: YELP) to ‘buy’
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Yelp Inc. received a rating upgrade from Goldman Sachs on July 17, 2023, as per Refinitiv data. The broker promoted YELP from ‘hold’ to ‘buy’ and increased its price target on YELP from US$38 to US$47.
Yelp is an advertising-based company that acts as a point of contact between corporations and consumers. The company provides advertising for companies as well as reviews and photos of products for consumers. The platform allows direct interaction of businesses and consumers in an online mode.
The rating upgrade from Goldman arrived at a time when the mean recommendation rating on the stock is 3.1 on a scale of one to five. Here, one represents a ‘strong buy’ rating and five represents a ‘strong sell’ rating. The consensus price target on YELP is US$35.75 as on July 17, 2023.
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