Yelp Stock Suffers Price Target Cuts And Slumps 5%

By Markets MarketWatch Pulse

Shares of Yelp Inc. fell 5% in premarket trade Tuesday after the company's weaker-than-expected financial outlook and CFO resignation prompted a handful of price target cuts on its stock. RBC Capital cut its 12-month target to $33 from $42, while J.P. Morgan cut its target to $30 from $43. B. Riley upgraded the stock to neutral from sell, but reiterated a bearish target of $15. B. Riley's target is the lowest among a poll of 24 analysts surveyed by FactSet, implying 7% downside to Monday's closing price. The average target on the stock is $24.54, while the average rating is the equivalent to buy. Shares of Amazon are down 36% over the last three months, versus an 11% decline for the S&P 500. They have fallen 62% over the last year, vastly underperforming the index's 10% decline.

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