As reported earlier, SunTrust analyst Matthew Thornton downgraded Yelp to Hold from Buy and lowered his price target to $35 from $51. The analyst cites a surprising and disappointing set of Q3 results following a "stellar" first half of 2018, highlighted by the return of sales execution issues, yielding an unexpected slowdown in gross account adds and continued churn. Thornton also points to reduced visibility around Yelp's prospects from the shift of its "go-to-market strategy" along with "continued uneven execution, volatility in results, and slowing traffic" combining to warrant a lower valuation multiple for the stock.