NEW YORK (TheStreet) -- Shares of Google (GOOGL) are up 1.68% to $551.15 in midday trading Friday, after analysts at Jefferies said the global tech company is at the top of its potential buyers list for Yelp (YELP).
The firm believes the combination of Google and Yelp would make the most sense. Jefferies noted Google's unsuccessful attempt to buy Yelp for $550 million back in 2009.
Yesterday, the Wall Street Journal reported that Yelp is exploring a sale amid struggles to post strong growth with users and advertisers.
Yelp has a market capitalization of $2.9 billion, and could go for more than $3.5 billion in a sale, according to the Journal.
Google is a search engine that focuses its business around search, advertising, operating systems and platforms, enterprise, and hardware products. The company is based in Mountain View, Calif.
Insight from TheStreet's Research Team:
Range bound action in a stock is typically the definition of what to avoid when looking for investment opportunities, and Google clearly falls in that category right now.
We can see from the chart this stock is trapped between $530 and $580, a wide 50 point range that could certainly be playable up and down for the nimble trader. However, even as a trend trader, this is a difficult pattern to play. We would prefer to see a breakout or breakdown happen.