YELP – Market expectations are for Uniform ROA to fade back towards historical lows, and management may be concerned about growth, strategy execution, and 2020 outlook

• Yelp Inc. (YELP:USA) currently trades well below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 7.2x Uniform P/E, implying bearish expectations for the firm. Additionally, management may be concerned about their revenue growth, strategy execution, and 2020 outlook
  
  

• Specifically, management may lack confidence in their ability to continue to execute their long-term strategic plan and sustain revenue growth associated with recent execution. Also, they may be concerned about their ability to continue to grow their multi-location business and about their 2020 outlook overall. Finally, they may be downplaying concerns about the impact of CCPA, and they might have concerns about their ability to maintain expense discipline shown in recent periods