Yelp price target lowered to $33 from $38 at Goldman Sachs - TipRanks.com
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Yelp price target lowered to $33 from $38 at Goldman Sachs - TipRanks.com
"Goldman Sachs lowered the firm's price target on (YELP) to $33 from $38 and keeps a Neutral rating on the shares as part of a broader research note previewing Q3 results in Digital Advertising names. The firm notes that its visibility into the company's core Restaurant, Retail & Other segment reaccelerating remains low, though it also expects Yelp's absolute levels of expenses to remain fairly modest, the analyst tells investors in a research note."
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Goldman Sachs reduced Yelp's price target to $33 from $38 and maintained a Neutral rating on the shares. The action came as part of a broader preview of third-quarter results for Digital Advertising companies. Goldman Sachs indicated low visibility into a reacceleration of Yelp's core Restaurant, Retail & Other segment. The firm also expects Yelp's absolute expense levels to remain fairly modest. Those views signal cautious near-term revenue momentum expectations for Yelp alongside a controlled cost profile that could limit downside from elevated spending.
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