Wedbush analyst Ygal Arounian downgraded Yelp (NYSE: YELP) from Outperform to Neutral with a price target of $32.00 (from $60.00).

For an analyst ratings summary and ratings history on Yelp click here. For more ratings news on Yelp click here.

Shares of Yelp closed at $30.22 yesterday.