Tripadvisor (TRIP) Given New $63.00 Price Target at Credit Suisse Group

Tripadvisor (NASDAQ:TRIP) had its price target upped by Credit Suisse Group from $51.00 to $63.00 in a report published on Friday, The Fly reports. The firm currently has a neutral rating on the travel company’s stock.

A number of other research analysts have also recently commented on TRIP. Zacks Investment Research upgraded Tripadvisor from a sell rating to a hold rating in a research note on Thursday, October 25th. DA Davidson increased their price objective on Tripadvisor to $62.00 and gave the company a neutral rating in a research note on Friday. They noted that the move was a valuation call. UBS Group cut Tripadvisor from a neutral rating to a sell rating and increased their price objective for the company from $47.00 to $50.00 in a research note on Friday. BidaskClub upgraded Tripadvisor from a hold rating to a buy rating in a research note on Thursday, November 1st. Finally, Piper Jaffray Companies reiterated an in-line rating and issued a $54.00 price objective on shares of Tripadvisor in a research note on Thursday. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $53.17.

NASDAQ:TRIP traded down $3.63 during trading hours on Friday, reaching $63.30. 6,089,154 shares of the stock were exchanged, compared to its average volume of 2,164,885. Tripadvisor has a twelve month low of $29.50 and a twelve month high of $69.00. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 131.88, a price-to-earnings-growth ratio of 4.57 and a beta of 1.48.

Tripadvisor (NASDAQ:TRIP) last released its quarterly earnings results on Wednesday, November 7th. The travel company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.24. Tripadvisor had a return on equity of 7.56% and a net margin of 1.38%. The company had revenue of $458.00 million for the quarter, compared to analysts’ expectations of $469.09 million. During the same period in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts predict that Tripadvisor will post 0.83 earnings per share for the current fiscal year.

In other news, insider Noel Bertram Watson sold 726 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $53.71, for a total value of $38,993.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.10% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of TRIP. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in Tripadvisor by 3,977.0% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,107,553 shares of the travel company’s stock valued at $107,632,000 after buying an additional 2,055,859 shares during the last quarter. Jackson Square Partners LLC increased its holdings in Tripadvisor by 17.8% in the third quarter. Jackson Square Partners LLC now owns 10,987,460 shares of the travel company’s stock valued at $561,129,000 after buying an additional 1,660,405 shares during the last quarter. Select Equity Group L.P. purchased a new position in Tripadvisor in the second quarter valued at $55,356,000. Smith Asset Management Group LP purchased a new position in Tripadvisor in the second quarter valued at $30,275,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Tripadvisor in the second quarter valued at $29,050,000. 89.58% of the stock is currently owned by hedge funds and other institutional investors.

Tripadvisor Company Profile

TripAdvisor, Inc operates as an online travel company. The company operates in two segments, Hotel and Non-Hotel. Its travel platform aggregates reviews and opinions of members about destinations, accommodations, activities and attractions, and restaurants, which enables users to research and plan their travel experiences, as well as book hotels, flights, cruises, vacation rentals, tours, activities and attractions, and restaurant reservations on its site or mobile app, or on the site or app of travel partner sites.

See Also: Fiduciary

The Fly

Analyst Recommendations for Tripadvisor (NASDAQ:TRIP)

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