Dallas, Texas 07/10/2013 (Financialstrend) – The shares of Yelp Inc. (NYSE:YELP) are currently trading at $37.12, decreased by 0.32%. The 52-week high price of Yelp, Inc. (NYSE:YELP) is $37.66 and the 52-week low price stood at $16.32. With 64.29 million total outstanding shares, the market capitalization of Yelp, Inc. (NYSE:YELP) is $2.39 billion. The intraday share trading volume for yesterday was 2.36 million, whereas the average trading volume of Yelp, Inc. (NYSE:YELP) headed up to 2.36 million. Institutional ownership in Yelp, Inc. (NYSE:YELP) records a contribution of 63 percent of the total outstanding shares.
Yelp, Inc. connects people with local businesses. Its users have contributed a total of nearly 36.0 million cumulative reviews of almost all type of local businesses, from boutiques, restaurants and salons to dentists, mechanics and plumbers. It provides a platform through which local businesses engage with consumers at a moment when consumers are deciding where to spend their money.
Yelp, Inc. (NYSE:YELP) now constitutes a major component of Apple’s (APPL) social media support. Searches for local businesses via Apple’s Siri voice assistant are generating Yelp recommendations, listing information linked to Apple’s mapping application, along with other information provided by YELP that includes contact information, deals, and business pictures. Yelp has shown that its business model works in mobile, with 36 percent of the company’s ad impressions now coming from mobile users. In addition, it shows that Yelp, Inc.’s business model might have more value in the mobile segment, as indicated through its check-in functionality and real-time deals on mobiles. While Yelp, Inc. (NYSE:YELP) is not expected to show a profit until 2014, revenue growth for the company is impressive, with a first quarter revenue in 2013 going up 68 percent to $46.1 million.