Yelp price target lowered to $38 from $45 at Evercore ISI

Evercore ISI analyst Robert Coolbrith lowered the firm’s price target on Yelp (YELP) to $38 from $45 and keeps an Outperform rating on the shares. Q3 results were “a mixed bag,” with revenue growth beating expectations but guidance for Q4 falling short, the analyst tells investors. Despite ongoing macro uncertainties, the firm sees “promising signs of product innovation and other revenue streams gaining traction,” the analyst added.