Piper Jaffray downgrades Yelp, lowers price target

Dec. 07, 2017 7:42 AM ETYelp Inc. (YELP)YELPBy: Brandy Betz, SA News Editor3 Comments
  • 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%.  

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