Schaeffer's Trading Floor Blog

Analyst Downgrades: Yelp Inc, TripAdvisor, Inc., and eBay Inc

Analysts issued bearish notes on YELP, TRIP, and EBAY

by 7/14/2014 9:12 AM
Stocks quoted in this article:

Analysts are downwardly revising their ratings today on user review site Yelp Inc (NYSE:YELP), travel research firm TripAdvisor, Inc. (NASDAQ:TRIP), and online auctioneer eBay Inc (NASDAQ:EBAY). Here's a quick look at today's bearish brokerage notes on YELP, TRIP, and EBAY.

  • Evercore started coverage of YELP with an "underweight" rating and a $65 price target, with the brokerage firm expecting the stock to slide about 8% from Friday's closing price of $70.62. Yelp Inc has gained more than 79% in the past 52 weeks, but has managed to advance only 2.4% in 2014. By contrast, the S&P 500 Index (SPX) is up 6.5% year-to-date. If YELP continues to struggle against emerging resistance in the $80 region, more negative notes could be forthcoming; currently, the stock sports 77% "buy" ratings.

  • TRIP was cut to "neutral" from "buy" at Nomura, sending the stock down about 0.7% in pre-market trading. The shares ended at $104.78 last Friday, bringing their year-to-date gain to 26.5%. However, TRIP turned lower after a recent test of the $110 region, and this round-number level previously capped the stock's gains in early March. With the equity's record high resting at $111.24, the brokerage firm appears to be betting on this area to continue thwarting future rally attempts by TripAdvisor, Inc.

  • Ahead of Wednesday night's earnings announcement from EBAY, Pacific Crest downgraded the stock to "sector perform," while Susquehanna lowered its price target to $54 from $60. The shares of eBay Inc are fractionally lower in electronic trading, as these negative notes overshadow reports of a revamped partnership with Sotheby's (NYSE:BID). On the charts, EBAY has lost more than 6% of its value in 2014, and potential resistance from its 80-day moving average is looming in the troublesome $52 region -- just north of the equity's Friday close at $51.50.

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