Piper Jaffray downgrades Yelp, lowers price target

• Piper Jaffray downgrades Yelp (NYSE:YELP) to Underweight and lowers the price target by a dollar to $37.
• Analyst Sam Kemp expects Yelp management to “guide down” 2018 revenue estimates after lowering the Q4 guidance by about 2% because of the “messiness of removing Eat24.” 
• Kemp sees Facebook and Google making it difficult for Yelp to grow traffic and user numbers. 
• Source: Bloomberg First Word
• Yelp shares are down 4.5%.