Yelp, the popular online platform for discovering local businesses, is set to announce its fiscal fourth-quarter results on February 15. With revenues and earnings expected to meet expectations, we anticipate little to no movement in the stock following the release. However, Yelp has already experienced significant growth since the beginning of 2023, with its stock price rising from $27 to $46, outperforming the S&P index's 31% increase.
Yelp's recent success can be attributed to its shift from focusing solely on local businesses and restaurants to also targeting multi-location advertisers. Additionally, there has been an upward trend in cost-per-click rates, further strengthening the company's position. Yelp has provided full-year revenue guidance for 2023 in the range of $1.332 billion to $1.337 billion, with adjusted EBITDA expected to fall between $319 million and $324 million.
