Shares of one-stop local platform Yelp (NYSE:YELP) are surging in the pre-market session today after the company posted healthy fourth-quarter numbers. Revenue increased 13.1% year-over-year to $309.1 million, surpassing estimates by ~$2.8 million.
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EPS at $0.28 though narrowly missed the cut by $0.01. The company witnessed robust advertiser demand across categories.
Looking ahead, for 2023, the company sees revenue landing between $1.29 billion and $1.31 billion. Adjusted EBITDA is anticipated between $290 million and $310 million.
Overall, Wall Street has a consensus price target of $26.67 on YELP, implying a 13.5% potential downside in the stock. That’s after a nearly 6.3% price gain over the past month.
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