Fly News Breaks for February 14, 2020
Feb 14, 2020 | 06:32 EDT
RBC Capital analyst Shweta Khajuria downgraded Yelp to Sector Perform from Outperform with a price target of $35, down from $40, after its Q4 earnings miss, with revenue and EBITDA also coming in below consensus estimates. The analyst adds that Yelp's growth rates of Paying Advertising Locations and App Unique Device metrics decelerated to record lows, even though the management attributed the Q4 ad weakness to seasonality. Khajuria remains positive on the management's efforts to drive double-digit top-line growth and EBITDA margin expansion, but does not expect the stock to benefit from any fundamental catalysts this year.
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