Yelp price target raised to $40 from $38 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Yelp (YELP) to $40 from $38 and keeps a Neutral rating on the shares. The company produced a solid set of results that centered around a few key themes – revenue growth that continues to be led by Services, offsetting continued softness from the Restaurants, Retail & Other category due to macro-related pressures, the analyst tells investors in a research note. Goldman further notes that Yelp’s continued operating leverage with Q3 EBITDA margins had solidly exceeded its forecasts as its management maintains cost discipline.