B. Riley Downgrades Yelp (YELP) to Sell
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Yelp (YELP) Tumbles on Brutal Downgrade
January 14, 2016 10:07 AM ESTThe hits keep coming for Yelp (NYSE: YELP). Shares of the online review site plummeted Thursday after they were downgraded to Sell at B. Riley, which cited accelerating traffic headwinds in the fourth quarter and a difficult year ahead.
Analyst Sameet Sinha sliced the price target on the stock to $15 from $21, suggesting 32% downside from Wednesday's close.
Sinha said 2016 will be another difficult year for YELP with declining traffic, tough comps in App D/L growth, reduced ad spend effectiveness and... More
