In a research report issued today, Axiom analyst Victor Anthony reiterated a Hold rating on shares of Yelp Inc (NYSE:YELP) and slashed the price target to $28 (from $43), which represents a potential upside of 7% from where the stock is currently trading. The decreased price target follows the company’s second-quarter earnings results that missed Anthony’s estimates on revenues, Adjusted EBITDA, and Adjusted EPS for the second consecutive quarter.

Anthony wrote, “Yelp fails to meet every criteria we use to rate a stock a Buy, that is, solid defensible business models with growth catalysts and favorable secular trends, strong competitive moats, market share gainers, and solid management teams. As a result, we remain on the sidelines, despite the ~75% correction in the share price from highs, as the company works through its challenges.”

Furthermore, “It is highly unlikely, in our view, that Yelp meets its target of $1B in revenue in 2017 on an organic basis, without significant investments that will pressure EBITDA growth. We still see Google and Facebook as competitors in the online review space and it is unlikely either one steps in to buy Yelp.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Victor Anthony has a total average return of 14.3% and a 61.9% success rate. Anthony is ranked #137 out of 3724 analysts.

Out of the 32 analysts polled by TipRanks, 19 rate Yelp Inc. stock a Buy, 11 rate the stock a Hold and 2 recommend Sell. With a return potential of 132.2%, the stock’s consensus target price stands at $60.71.