Yahoo's stock price took a free fall Wednesday after the company reported weak quarterly earnings, causing analysts to lower their price targets.

Shares of Yahoo were down almost 4 percent in midday trading, and analysts cut their price targets for the stock, according to Market Watch.

Jefferies cut its price target for Yahoo from $61 to $49. The analysts kept a buy rating on the stock.

Credit Suisse cut its price target for Yahoo from $59 to $53 and gave it a neutral rating.

Raymond James lowered the price target for Yahoo from $45 to $42, but gave the stock an outperform rating.

Yahoo posted earnings of 15 cents per share on $1.23 billion in revenue Tuesday. Analysts were expecting the company to post earnings of 17 cents per share on $1.26 billion in revenue, CNBC reports.

Yahoo also announced a search advertising deal with Google on Tuesday. The deal would allow Google to give Yahoo search ads, while Yahoo would provide certain search results from Google. Yahoo's CEO Marissa Mayer has said she thinks the partnership with Google will help the company's search engine business. 

Yahoo also has a stake in the Chinese e-commerce website Alibaba that the company hopes will help growth going forward. However, Wells Fargo analysts were not confident in Yahoo's near future, and did not think the company would make any operations improvements.

In the past three months, Yahoo's stock price has fallen more than 17 percent.

Yahoo has a huge variety of content from sports to email, and even a beauty section. Mayer said that Yahoo needs to focus on its best performing products and "disinvest" in the others, CNet reports.

"We ultimately need to work to improve our relevance to end users and how many times they come to us," Mayer said during a conference call Tuesday. "So we think it's important going into 2016 to get very focused."