Cantor Fitzgerald Issues Pessimistic Forecast for TripAdvisor (NASDAQ:TRIP) Stock Price

TripAdvisor (NASDAQ:TRIP) had its target price decreased by analysts at Cantor Fitzgerald from $8.00 to $6.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “underweight” rating on the travel company’s stock. Cantor Fitzgerald‘s price objective would suggest a potential downside of 18.70% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $16.00 target price on shares of TripAdvisor in a research note on Monday, July 20th. JPMorgan Chase & Co. decreased their price target on shares of TripAdvisor from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. BTIG Research lowered shares of TripAdvisor from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 21st. Weiss Ratings restated a “sell (d)” rating on shares of TripAdvisor in a report on Wednesday, August 12th. Finally, B. Riley Financial cut their price objective on shares of TripAdvisor from $13.00 to $12.50 and set a “neutral” rating for the company in a research report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $13.73.

TripAdvisor Stock Down 27.6%

Shares of TRIP stock opened at $7.38 on Friday. TripAdvisor has a 12 month low of $7.20 and a 12 month high of $17.53. The firm has a market cap of $864.94 million, a PE ratio of 738.74, a price-to-earnings-growth ratio of 4.11 and a beta of 0.87. The stock has a 50 day moving average of $9.00 and a 200-day moving average of $10.94. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.28.

TripAdvisor (NASDAQ:TRIP) last posted its quarterly earnings data on Thursday, November 5th. The travel company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.06). The business had revenue of $436.40 million during the quarter, compared to the consensus estimate of $447.39 million. TripAdvisor had a net margin of 0.28% and a return on equity of 4.23%. The firm’s revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 earnings per share. On average, equities analysts predict that TripAdvisor will post 0.34 EPS for the current year.

Insider Buying and Selling at TripAdvisor

In other news, CEO Almir Ambeskovic sold 8,000 shares of TripAdvisor stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $9.45, for a total transaction of $75,600.00. Following the sale, the chief executive officer owned 30,456 shares of the company’s stock, valued at approximately $287,809.20. This trade represents a 20.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TRIP. BlackRock Inc. acquired a new position in shares of TripAdvisor in the 2nd quarter worth approximately $239,065,000. State Street Corp boosted its stake in TripAdvisor by 1.6% in the 2nd quarter. State Street Corp now owns 4,966,046 shares of the travel company’s stock valued at $68,084,000 after buying an additional 77,501 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in TripAdvisor by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,973,534 shares of the travel company’s stock valued at $42,356,000 after buying an additional 210,591 shares in the last quarter. U S Global Investors Inc. boosted its stake in TripAdvisor by 32.0% in the 3rd quarter. U S Global Investors Inc. now owns 1,840,229 shares of the travel company’s stock valued at $15,403,000 after buying an additional 446,255 shares in the last quarter. Finally, Converium Capital Inc. bought a new stake in TripAdvisor in the first quarter valued at $11,460,000. 98.99% of the stock is owned by institutional investors.

Key Stories Impacting TripAdvisor

Here are the key news stories impacting TripAdvisor this week:

• Positive Sentiment: Restructuring and workforce reductions may help Tripadvisor control costs as it reviews its strategy. Tripadvisor Announces Restructuring and CEO and CFO Transitions
• Neutral Sentiment: A securities-law investigation notice followed the selloff; it adds potential legal uncertainty, but is an announcement of an investigation, not a finding of wrongdoing. Investigation Notice
• Negative Sentiment: Third-quarter adjusted earnings were $0.37 per share versus the $0.43 consensus, while revenue of $436.4 million missed the $447.39 million forecast and declined 11.1% year over year. A reported $313.1 million net loss included an approximately $370 million goodwill impairment. Tripadvisor Third-Quarter Results
• Negative Sentiment: CEO Matt Goldberg is stepping down and CFO leadership is also changing. The exits, alongside the outgoing CEO’s admission that the experiences overhaul fell short, have amplified uncertainty about the company’s turnaround. Tripadvisor Cuts Jobs; Outgoing CEO Says Experiences Overhaul Fell Short

About TripAdvisor

Tripadvisor, Inc (NASDAQ: TRIP) operates a global travel guidance and experiences platform. Its flagship Tripadvisor brand provides user-generated reviews, ratings, photos and travel information covering hotels, restaurants, attractions and destinations, helping travelers research and plan trips.

The company also operates Viator, an online marketplace for tours, activities and other travel experiences, and TheFork, a digital restaurant reservation platform serving diners and restaurants.