Oppenheimer Reiterates Outperform On Tripadvisor Following 3Q14 Resutls
Oppenheimer analyst Manish Hemrajani reiterated an Outperform rating on Tripadvisor (NASDAQ:TRIP) with a $99 price target, following the company’s third-quarter earnings, posting revenue of $254M, beating Roth/consensus forecast by 1.9%/1.3% driven by upside in subscriptionpbased revenue.
Hemrajani noted, “While the decline in clickbased concerns us, we are encouraged by TRIP’s attractive business model, growing traction with Instabook, contribution from recent acquisitions and subscription-based revenue as it looks to better monetize its vast and growing online user base.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Manish Hemrajani has a total average return of 4.7% and a 47.4% success rate. Hemrajani has a -13.8% average return when recommending TRIP, and is ranked #1412 out of 3363 analysts.