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 trading hands.

TRIP has been the subject of several other research reports. The Goldman Sachs Group decreased their target price on TripAdvisor from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. BTIG Research dropped their price target on TripAdvisor from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Barclays cut their price target on TripAdvisor from $13.00 to $10.00 and set an “underweight” rating for the company in a report on Friday, February 13th. UBS Group lowered their price objective on shares of TripAdvisor from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Finally, Zacks Research lowered shares of TripAdvisor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $14.68.

Hedge Funds Weigh In On TripAdvisor

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRIP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TripAdvisor by 29.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,998 shares of the travel company’s stock worth $1,162,000 after acquiring an additional 18,699 shares during the period. Jones Financial Companies Lllp increased its position in shares of TripAdvisor by 1,183.2% during the first quarter. Jones Financial Companies Lllp now owns 6,416 shares of the travel company’s stock valued at $85,000 after purchasing an additional 5,916 shares during the period. Empowered Funds LLC increased its position in shares of TripAdvisor by 14.2% during the first quarter. Empowered Funds LLC now owns 13,475 shares of the travel company’s stock valued at $191,000 after purchasing an additional 1,676 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of TripAdvisor by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,532 shares of the travel company’s stock valued at $4,216,000 after purchasing an additional 22,136 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in TripAdvisor by 11.0% in the second quarter. Envestnet Asset Management Inc. now owns 32,888 shares of the travel company’s stock worth $429,000 after purchasing an additional 3,254 shares during the period. 98.99% of the stock is currently owned by institutional investors.

TripAdvisor Price Performance

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 stock’s 50 day simple moving average is $11.12 and its two-hundred day simple moving average is $14.05. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 34.75, a P/E/G ratio of 1.70 and a beta of 0.97.

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

TripAdvisor Company Profile

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.