Tripadvisor Price Target Raised to $105.00 at Credit Suisse (TRIP)
Equities research analysts at Credit Suisse upped their target price on shares of Tripadvisor (NASDAQ:TRIP) from $94.00 to $105.00 in a research note issued to investors on Tuesday, AnalystRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s target price indicates a potential upside of 31.63% from the stock’s previous close.
The analysts wrote, “Rising Sails Await Powerful Tailwinds,” the Credit Suisse analyst reiterated his conviction in the firm’s Outperform rating on TripAdvisor. He cited “a new bottom-up deep-dive into the Click-based advertising business.” Despite recent vast improvements in TripAdvisors consumer proposition, according to Prissman, “consumer awareness of the enhancements remains low.” The analyst sees this awareness “as a powerful lever to commence monetizing the 70% of users that are not monetized today, and view the recent stabilization of the transition-related headwinds as a signal that TRIP is poised to focus on offense.”
Shares of Tripadvisor (NASDAQ:TRIP) traded up 1.97% during mid-day trading on Tuesday, hitting $81.3375. 2,044,805 shares of the company’s stock traded hands. Tripadvisor has a one year low of $50.34 and a one year high of $109.79. The stock has a 50-day moving average of $97.14 and a 200-day moving average of $86.2. The company has a market cap of $11.569 billion and a price-to-earnings ratio of 56.57.
Tripadvisor (NASDAQ:TRIP) last announced its earnings results on Tuesday, February 11th. The company reported $0.21 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.21. The company had revenue of $212.70 million for the quarter, compared to the consensus estimate of $205.80 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. On average, analysts predict that Tripadvisor will post $2.15 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Evercore Partners raised their price target on shares of Tripadvisor from $74.00 to $85.00 in a research note on Monday, March 24th. Separately, analysts at Piper Jaffray raised their price target on shares of Tripadvisor from $93.00 to $125.00 in a research note on Thursday, March 20th. Finally, analysts at TheStreet downgraded shares of Tripadvisor from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $92.39.
TripAdvisor, Inc (NASDAQ:TRIP) is an online travel research company, enabling users to plan and have a trip.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.