Craig-Hallum analyst Jason Kreyer lowered his price target for Care.com to $9 from $15, while reiterating a Hold rating on the shares. The analyst notes that the company saw a drop off in organic traffic and a decline in online conversion, which he attributes to the Wall Street Journal headlines back in May. Further, the decision to accelerate marketing investments was wildly inefficient in the quarter, driving a 40% increase in acquisition costs and erasing 18 months of ROI gains, he adds. Kreyer believes shares will likely be range bound until a new CEO is named and a strategy refresh is rolled out.