TripAdvisor (NASDAQ:TRIP) Price Target Cut to $6.00 by Analysts at Cantor Fitzgerald

TripAdvisor (NASDAQ:TRIP) had its price objective trimmed by Cantor Fitzgerald from $8.00 to $6.00 in a research report released on Friday, Marketbeat reports. The firm currently has an underweight rating on the travel company’s stock.

Several other equities research analysts have also issued reports on TRIP. Weiss Ratings reaffirmed a “sell (d)” rating on shares of TripAdvisor in a report on Wednesday, August 12th. The Goldman Sachs Group reissued a “buy” rating and issued a $16.00 price objective on shares of TripAdvisor in a research note on Monday, July 20th. B. Riley Financial dropped their price objective on shares of TripAdvisor from $13.00 to $12.50 and set a “neutral” rating for the company in a research note on Monday, August 10th. JPMorgan Chase & Co. cut their target price on shares of TripAdvisor from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. Finally, UBS Group decreased their target price on shares of TripAdvisor from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $12.71.

TripAdvisor Price Performance

NASDAQ:TRIP traded down $0.38 during trading hours on Friday, hitting $7.00. The company’s stock had a trading volume of 13,153,330 shares, compared to its average volume of 3,013,375. TripAdvisor has a twelve month low of $6.95 and a twelve month high of $16.04. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a fifty day simple moving average of $8.94 and a 200-day simple moving average of $10.91. The company has a market capitalization of $820.40 million, a P/E ratio of -2.27, a PEG ratio of 3.80 and a beta of 0.87.

TripAdvisor (NASDAQ:TRIP) last issued its earnings results on Thursday, November 5th. The travel company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.06). The business had revenue of $436.40 million for the quarter, compared to analyst estimates of $447.39 million. TripAdvisor had a return on equity of 4.23% and a net margin of 0.28%. The firm’s revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. On average, analysts anticipate that TripAdvisor will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling at TripAdvisor

In other news, CEO Almir Ambeskovic sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $9.45, for a total transaction of $75,600.00. Following the completion of the transaction, the chief executive officer directly owned 30,456 shares in the company, valued at $287,809.20. This trade represents a 20.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On TripAdvisor

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its holdings in TripAdvisor by 128.4% in the third quarter. Sterling Capital Management LLC now owns 3,026 shares of the travel company’s stock valued at $25,000 after acquiring an additional 1,701 shares during the last quarter. Nykredit A S bought a new position in TripAdvisor during the 2nd quarter worth approximately $32,000. Public Employees Retirement System of Ohio acquired a new position in shares of TripAdvisor in the 2nd quarter worth approximately $36,000. Rockefeller Capital Management L.P. lifted its position in shares of TripAdvisor by 192.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,767 shares of the travel company’s stock worth $40,000 after purchasing an additional 1,821 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of TripAdvisor in the 2nd quarter valued at $46,000. 98.99% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting TripAdvisor

Here are the key news stories impacting TripAdvisor this week:

• Negative Sentiment: Quarterly results disappointed. Tripadvisor reported adjusted earnings of $0.37 per share versus analysts’ $0.43 estimate, while revenue of $436.4 million fell short of the $447.4 million consensus and declined 11.1% year over year. The company also reported a $313.1 million net loss, including an approximately $370 million goodwill impairment charge. Tripadvisor earnings report
• Negative Sentiment: Executive departures and restructuring add uncertainty. CEO Matt Goldberg is leaving, and reports also cite the CFO’s departure and job cuts as Tripadvisor pursues an overhaul. The outgoing CEO said the company’s Experiences strategy fell short, raising questions about execution and the turnaround. Tripadvisor job cuts and Experiences overhaul
• Negative Sentiment: Analysts lowered targets, with two maintaining bearish ratings. Barclays cut its target from $9 to $8 and kept an Underweight rating; Cantor Fitzgerald lowered its target from $8 to $6 and also rated the stock Underweight. B. Riley cut its target from $12.50 to $8.50 and moved to Neutral. Read More., Read More. and Read More.
• Negative Sentiment: A securities investigation adds another risk. A law firm announced an investigation into potential securities-law violations following the earnings-related selloff. This is an investigation notice, not a finding of wrongdoing. Investigation notice

About TripAdvisor

Tripadvisor, Inc (NASDAQ: TRIP) operates a global travel guidance and experiences platform. Its flagship Tripadvisor brand provides user-generated reviews, ratings, photos and travel information covering hotels, restaurants, attractions and destinations, helping travelers research and plan trips.

The company also operates Viator, an online marketplace for tours, activities and other travel experiences, and TheFork, a digital restaurant reservation platform serving diners and restaurants.