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Why Yelp (YELP) is Soaring on Thursday

NEW YORK (TheStreet) -- Yelp (YELP - Get Report) proved a winner on markets Thursday after posting better-than-expected earnings and adding double-digit share value.

By noon, shares had soared 20% to a record high $89.95, beating its previous high of $83.96.

Yelp was surging after posting an earnings trifecta: revenue growth, increased active users and solid guidance.

In its December-ended quarter, the company reported revenue 71% year-over-year to $70.65 million and a per-share loss of 3 cents. Analysts polled by Thomson Reuters had expected a net loss of 2 cents a share on $67.3 million in sales.

Must Read: Why Spirit Aerosystems (SPR) Is Down Today

Cumulative reviews increased 12% sequentially and 47% year-over-year to 53 million. Average monthly unique visitors jumped 39% compared to the year-ago quarter to 120 million, of which 44% were via mobile devices. Active local business accounts increased 69% year-on-year to 67,000.

Management expects first-quarter revenue between $73.5 million and $74.5 million, above consensus of $73.3 million.

Must watch: Jim Cramer on Why Yelp is Winning and Twitter Needs To Evolve

TheStreet Ratings team rates YELP INC as a Sell with a ratings score of D+. The team has this to say about their recommendation:

"We rate YELP INC (YELP) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income and feeble growth in its earnings per share."

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