DA Davidson analyst Tom Forte lowered his price target on Yelp to $43 after its "disappointing" performance in Q3. The analyst says the results were a surprise given how much "improvements the company has made in executing on the promise of its business model since Lanny Baker joined as CFO in 2016". Forte keeps his Buy rating on Yelp however, stating that the company is "actively working to address the reasons for the shortfall" in Q3 paying advertising additions and believes that the management "can make the necessary adjustments to get its business on track".

Jefferies raised the firm's price target on Yelp to $43 from $42 and keeps a Hold rating on the shares. In a preview note for the U.S. Internet group, the firm says it will be looking for signs of sustainability in elevated ARPU growth at Yelp, especially as locations/app MAUs remain in decline.