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Expand chart
Data: Investing.com; Chart: Axios Visuals

Yelp posted solid earnings for the first quarter but its forward guidance was unimpressive and led to a rout in its stock price to end last week, erasing all of its 2019 gains.

Details: The company said it anticipates revenue will rise 4%–6% year over year, short of the roughly 6.6% increase investors were expecting. It's also not on pace for the 8%–10% annual increase Yelp predicted in its full year guidance and well short of the mid-teens percentage growth Yelp pegged for 2019-2023.

  • Having been a public company since 2012, investors are growing impatient with Yelp's inability to break into the mainstream and grab major chunks of online advertising revenue.

What they're saying:

  • Research firm B. Riley downgraded the stock from Buy to Neutral after the earnings report.
  • Morgan Stanley, saying there are "not enough customers," reiterated its underweight position.
  • UBS called the company "a work in progress" and maintained a less constructive outlook.
  • In January, SQN Investors, a major shareholder, urged Yelp to shake up its board of directors, saying their patience had "worn out."

The kind of people who use Yelp are more likely than the average consumer to be influenced by online advertising, research firm Civic Science notes.

  • "That means, if Yelp's ad business grows to any measurable scale, they should be able to demonstrate superior effectiveness compared to other platforms," John Dick, the firm's founder and CEO said in a note to clients.

The bottom line: However, the firm also notes in a recent post that Yelp is falling short. "Only 1/3 of Yelp fans say online advertising (in general) guides decisions. When looking at favorability among business owners- more than1/4 have a negative opinion of Yelp."

Go deeper: Yelp's new economic indicator shows a slowdown

Go deeper

2 hours ago - Health

U.S. surpasses 25 million COVID cases

A mass COVID-19 vaccination site at Dodger Stadium on Jan. 22 in Los Angeles, California. Photo: Mario Tama/Getty Images

The U.S has confirmed more than 25 million coronavirus cases, per Johns Hopkins data updated on Sunday.

The big picture: President Biden has said he expects the country's death toll to exceed 500,000 people by next month, as the rate of deaths due to the virus continues to escalate.

GOP implosion: Trump threats, payback

Spotted last week on a work van in Evansville, Ind. Photo: Sam Owens/The Evansville Courier & Press via Reuters

The GOP is getting torn apart by a spreading revolt against party leaders for failing to stand up for former President Trump and punish his critics.

Why it matters: Republican leaders suffered a nightmarish two months in Washington. Outside the nation’s capital, it's even worse.

Erica Pandey, author of @Work
6 hours ago - Economy & Business

The limits of Biden's plan to cancel student debt

Data: New York Fed Consumer Credit Panel/Equifax; Chart: Axios Visuals

There’s a growing consensus among Americans who want President Biden to cancel student debt — but addressing the ballooning debt burden is much more complicated than it seems.

Why it matters: Student debt is stopping millions of Americans from buying homes, buying cars and starting families. And the crisis is rapidly getting worse.