TripAdvisor Inc Receives a Hold from Oppenheimer

By Jason Carr

In a report released yesterday, Jed Kelly from Oppenheimer assigned a Hold rating to TripAdvisor Inc (NASDAQ: TRIP). The company’s shares closed on Friday at $35.03.

Kelly observed:

“We are updating our TRIP model to reflect a revenue cadence more in line with desktop and mobile-revenue-per-hotel-shopper trends. Additionally, we introduce ’18 quarterly estimates and ’19 and ’20 annual estimates. Our updated estimates imply that ’18E click-based and transaction-revenue (CB and TR) declines 5% year/year on desktop softness from reduced performance-marketing traffic and partner-bidding efficiency adjustments, respectively. That, we believe, will outweigh improving mobile hotel-shopper monetization trends embedded in our forecast. We are modeling CB and TR growth to incrementally accelerate throughout 2018 on easing desktop comps and improving mobile metrics. We increase our non-Hotel shopper-revenue forecast by 4% on higher attractions/restaurants assumptions. Overall, our ’18E revenue remains unchanged, while our EBITDA estimate increases by 6%. Maintain Perform.”

According to TipRanks.com, Kelly is a 4-star analyst with an average return of 10.5% and a 56.5% success rate. Kelly covers the Services sector, focusing on stocks such as Yatra Online Inc, Bankrate Inc, and Pricelinecom.

TripAdvisor Inc has an analyst consensus of Hold, with a price target consensus of $36.33.

TripAdvisor Inc’s market cap is currently $4.86B and has a P/E ratio of 74.53. The company has a book value ratio of 3.4322.

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TripAdvisor, Inc. owns and operates a portfolio of online travel brands. It operates its business through the Hotel and Non-Hotel segments.