Yelp (YELP) PT Lowered to $70 at Baird Post Q3
Baird analyst Colin Sebastian lowered his price target on Yelp (NYSE: YELP) to $70.00 (from $80.00) while maintaining a Neutral rating.
Sebastian commented, "Despite Yelp reporting upside on both top and bottom lines (above our high-end estimates), core Local Ad revenues were in-line, and key metrics were a mixed bag with decelerating traffic and moderating growth in active local businesses. While Yelp remains a clear early leader in a significant local advertising market, we remain Neutral-rated given some added concerns over underlying growth trends."
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 $70.23 yesterday.