TripAdvisor (NASDAQ:TRIP) Shares Gap Up After Analyst Upgrade

TripAdvisor, Inc. (NASDAQ:TRIP)’s stock price gapped up prior to trading on Friday after Bank of America upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $9.95, but opened at $10.42. Bank of America now has a $15.00 price target on the stock, up from their previous price target of $14.00. TripAdvisor shares last traded at $10.4250, with a volume of 1,473,970 shares.

Other equities research analysts have also issued reports about the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of TripAdvisor in a research note on Monday, December 29th. Barclays cut their target price on TripAdvisor from $13.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, February 13th. BTIG Research decreased their price target on TripAdvisor from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. B. Riley Financial lowered their price target on TripAdvisor from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Finally, Cantor Fitzgerald set a $10.00 price objective on TripAdvisor and gave the stock an “underweight” rating in a research note on Friday, February 13th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $14.68.

Institutional Trading of TripAdvisor

Hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System boosted its holdings in shares of TripAdvisor by 0.5% in the 3rd quarter. New York State Teachers Retirement System now owns 130,686 shares of the travel company’s stock worth $2,125,000 after acquiring an additional 624 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings in TripAdvisor by 75.7% during the 3rd quarter. Essex Investment Management Co. LLC now owns 1,523 shares of the travel company’s stock valued at $25,000 after purchasing an additional 656 shares in the last quarter. Nisa Investment Advisors LLC raised its position in TripAdvisor by 4.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,998 shares of the travel company’s stock valued at $260,000 after purchasing an additional 663 shares during the last quarter. Covestor Ltd raised its position in TripAdvisor by 64.8% in the 3rd quarter. Covestor Ltd now owns 1,770 shares of the travel company’s stock valued at $29,000 after purchasing an additional 696 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in TripAdvisor by 39.7% in the third quarter. Smartleaf Asset Management LLC now owns 2,482 shares of the travel company’s stock worth $42,000 after purchasing an additional 705 shares in the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

TripAdvisor Trading Up 5.0%

The business has a 50 day simple moving average of $11.12 and a 200 day simple moving average of $14.05. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 34.75, a price-to-earnings-growth ratio of 1.70 and a beta of 0.97.

TripAdvisor (NASDAQ:TRIP) last announced its earnings results on Thursday, February 12th. The travel company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.11). TripAdvisor had a net margin of 2.12% and a return on equity of 10.67%. The business had revenue of $411.00 million during the quarter, compared to analyst estimates of $412.53 million. During the same quarter last year, the business posted $0.30 earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. As a group, equities analysts forecast that TripAdvisor, Inc. will post 0.46 EPS for the current year.

About TripAdvisor

TripAdvisor (NASDAQ:TRIP) is a leading online travel company that operates a digital platform for travel information, reviews and booking services. The company’s flagship website and mobile apps allow users to access and contribute travel-related content—ranging from hotel and restaurant reviews to ratings for tours, attractions and vacation rentals—helping consumers plan and book trips around the world.

The core of TripAdvisor’s offering is its community-driven review system, which aggregates user-generated feedback alongside editorial content and professional photography.