Yelp reported Q1 results and provided full-year guidance that easily surpassed analyst estimates.
The large stock gains by midday trading appear very sustainable based on a couple of catalysts.
The recommendation is to own this stock and use any dips to load up on Yelp.
As Yelp (NYSE:YELP) headed into the quarterly results, the market clearly had limited expectations for the company. The stock traded at all-time lows in February and ended April below the lows of 2015. Even trading above $25 today, the stock trades 50% below the 52-week highs.