From Nasdaq: 2024-11-12 10:42:00

Yelp Inc. shares have dropped 20.7% YTD, underperforming the Zacks Computer Technology sector and S&P 500. The company faces challenges in its Restaurant, Retail, and Other segment, with a 6% decline in third-quarter revenues. Yelp heavily relies on advertising, facing competition from Google, Microsoft, and Meta. Despite headwinds, Yelp’s advertising services division saw growth of 11% in Q3 2024.

Yelp’s shift to selling advertising plans without fixed durations has led to an increase in paying advertiser accounts. The company’s investment in AI and machine learning has improved ad clicks and lowered CPC. Yelp projects revenues between $1.397 billion and $1.402 billion for 2024. Despite challenges, investors are advised to hold onto Yelp stock at this time.

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