Analysts Are Losing Hope For Yelp (yelp)

Deutsche Bank analysts hit Yelp with a biting downgrade, reducing their price target from from $56 to $31 because of “deteriorating fundamentals” at the company. The trouble, according to the analysts, comes primarily from Yelp’s local advertising woes. The salesforce at Yelp has been been growing while the number of local advertising accounts has been falling.

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