Credit Suisse Group AG Reiterates “Outperform” Rating for TripAdvisor Inc. (TRIP)
TripAdvisor Inc. (NASDAQ:TRIP)‘s stock had its “outperform” rating reiterated by equities researchers at Credit Suisse Group AG in a research note issued on Friday. They presently have a $65.00 price objective on the travel company’s stock, down from their previous price objective of $78.00. Credit Suisse Group AG’s price objective indicates a potential upside of 33.20% from the company’s previous close.
TRIP has been the subject of several other research reports. Cantor Fitzgerald reissued a “hold” rating on shares of TripAdvisor in a report on Friday, August 19th. Susquehanna began coverage on TripAdvisor in a research note on Wednesday, October 19th. They issued a “neutral” rating and a $55.00 target price for the company. Jefferies Group restated a “hold” rating and issued a $68.00 target price on shares of TripAdvisor in a research note on Tuesday, September 6th. Wells Fargo & Co. restated a “market perform” rating and issued a $67.00 target price (down previously from $71.00) on shares of TripAdvisor in a research note on Sunday, August 7th. Finally, Deutsche Bank AG downgraded TripAdvisor from a “buy” rating to a “hold” rating and cut their target price for the stock from $71.00 to $63.00 in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.08.
TripAdvisor (NASDAQ:TRIP) opened at 48.80 on Friday. The firm’s 50-day moving average price is $61.92 and its 200 day moving average price is $64.04. TripAdvisor has a 52 week low of $48.52 and a 52 week high of $87.50. The firm has a market cap of $7.11 billion, a P/E ratio of 51.37 and a beta of 2.31.
TripAdvisor (NASDAQ:TRIP) last announced its quarterly earnings data on Tuesday, November 8th. The travel company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. TripAdvisor had a return on equity of 12.67% and a net margin of 8.08%. The company earned $421 million during the quarter, compared to analyst estimates of $436.31 million. During the same quarter last year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts forecast that TripAdvisor will post $1.54 earnings per share for the current fiscal year.
In other TripAdvisor news, Viator CEO Barrie Seidenberg sold 4,274 shares of the business’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $60.77, for a total value of $259,730.98. Following the sale, the insider now directly owns 286 shares of the company’s stock, valued at $17,380.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dermot Halpin sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $61.77, for a total value of $617,700.00. Following the completion of the sale, the insider now directly owns 10,900 shares in the company, valued at $673,293. The disclosure for this sale can be found here. 0.98% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in TRIP. Valiant Capital Management L.P. bought a new stake in TripAdvisor during the second quarter valued at approximately $59,613,000. Gilder Gagnon Howe & Co. LLC increased its stake in TripAdvisor by 7.9% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,350,583 shares of the travel company’s stock valued at $86,842,000 after buying an additional 98,694 shares during the period. Geode Capital Management LLC increased its stake in TripAdvisor by 3.5% in the first quarter. Geode Capital Management LLC now owns 960,040 shares of the travel company’s stock valued at $63,714,000 after buying an additional 32,531 shares during the period. Slate Path Capital LP increased its stake in TripAdvisor by 57.1% in the first quarter. Slate Path Capital LP now owns 1,575,000 shares of the travel company’s stock valued at $104,738,000 after buying an additional 572,727 shares during the period. Finally, Legal & General Group Plc increased its stake in TripAdvisor by 8.6% in the first quarter. Legal & General Group Plc now owns 443,648 shares of the travel company’s stock valued at $29,503,000 after buying an additional 35,133 shares during the period. 88.02% of the stock is currently owned by institutional investors and hedge funds.
TripAdvisor, Inc is an online travel company, which owns and operates a portfolio of online travel brands. TripAdvisor, the Company’s flagship brand, is a travel Website. The Company operates in two segments. The Hotel segment’s services include making hotel room nights available for price comparison and booking, including instant booking feature, as well as subscription-based hotel products, such as Business Listings, and transaction-based hotel products, such as Jetsetter and Tingo.
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