Zacks Investment Research upgraded shares of TripAdvisor, Inc. (NASDAQ:TRIP) from a sell rating to a hold rating in a research note released on Monday, May 15th.
According to Zacks, “TripAdvisor is one of the largest online travel research companies in the world. The company's first quarter earnings and revenue missed the Zacks Consensus Estimate. Also, over the last one year, the stock has underperformed the Zacks characterised Electronic Commerce Industry. However, the secular growth trend in the online travel space, the company’s solid fundamentals, growth initiatives, partnerships to boost hotel bookings, strong focus on developing its mobile products, expansion into the international restaurant reservation space and improvement in user growth and engagement, especially related to mobile devices are likely to help the company to achieve desired results. Macro headwinds, increasing competition and uncertainty regarding the timeline for recovery of investments remain overhangs.”
A number of other brokerages have also recently weighed in on TRIP. Miller Tabak started coverage on shares of TripAdvisor in a report on Wednesday, January 18th. They set a hold rating for the company. Vetr upgraded shares of TripAdvisor from a buy rating to a strong-buy rating and set a $59.64 target price for the company in a report on Monday, February 6th. Credit Suisse Group restated a neutral rating on shares of TripAdvisor in a report on Tuesday, February 7th. Evercore ISI restated a hold rating and set a $52.00 target price on shares of TripAdvisor in a report on Monday, February 13th. Finally, Cantor Fitzgerald restated a neutral rating and set a $60.00 target price on shares of TripAdvisor in a report on Monday, February 13th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company’s stock. TripAdvisor currently has a consensus rating of Hold and a consensus target price of $49.00.
Shares of TripAdvisor (NASDAQ TRIP) remained flat at $37.91 during midday trading on Monday. The company had a trading volume of 3,408,676 shares. The stock has a market capitalization of $5.35 billion, a P/E ratio of 53.32 and a beta of 2.33. TripAdvisor has a 52-week low of $36.85 and a 52-week high of $71.69. The firm’s 50 day moving average is $42.07 and its 200 day moving average is $45.44.
TripAdvisor (NASDAQ:TRIP) last posted its quarterly earnings data on Tuesday, May 9th. The travel company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.01. The company had revenue of $372 million during the quarter, compared to the consensus estimate of $376.67 million. TripAdvisor had a net margin of 6.87% and a return on equity of 8.87%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $0.33 earnings per share. On average, equities analysts anticipate that TripAdvisor will post $1.15 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of TripAdvisor by 1,932.9% in the first quarter. BlackRock Inc. now owns 7,169,686 shares of the travel company’s stock worth $309,444,000 after buying an additional 6,817,010 shares in the last quarter. SRS Investment Management LLC purchased a new position in shares of TripAdvisor during the first quarter worth about $125,824,000. Thunderbird Partners LLP purchased a new position in shares of TripAdvisor during the third quarter worth about $85,749,000. Highfields Capital Management LP boosted its position in shares of TripAdvisor by 64.3% in the fourth quarter. Highfields Capital Management LP now owns 2,555,542 shares of the travel company’s stock worth $118,500,000 after buying an additional 1,000,000 shares in the last quarter. Finally, EastBay Asset Management LLC purchased a new position in shares of TripAdvisor during the fourth quarter worth about $23,276,000. Hedge funds and other institutional investors own 90.08% of the company’s stock.
TripAdvisor, Inc owns and operates a portfolio of online travel brands. TripAdvisor, the Company’s brand, is a travel site. The Company operates through two segments: Hotel and Non-Hotel. The Company’s Hotel segment includes click-based advertising and transaction; display-based and subscription-based advertising, and other hotel operations.
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