Oppenheimer Keeps a Hold Rating on TripAdvisor Inc (TRIP)

Oppenheimer analyst Jed Kelly maintained a Hold rating on TripAdvisor Inc (TRIP) yesterday. The company’s shares closed yesterday at $66.93, close to its 52-week high of $69.

Kelly said:

“TRIP reported 3Q18 EBITDA 26%/25% above Opco/Street on continuing strength in marketing efficiencies, higher mobile monetization, and stable auction dynamics. Mnagement increased its ‘18E profitability guidance, while guiding for healthy ’19E EBITDA growth, implying to us a continuation of current trends. We see results indicating TRIP’s ability to better identify and convert users into more high- quality downstream referrals to its hotel partners. 3Q attractions/restaurants revenue accelerated vs. 2Q, and management is investing for growth in both marketing and product. We see new social experience (launching globally next week) driving more engagement to capture more value across the entire travel purchasing funnel. Maintain Perform on balanced risk/reward.”

According to TipRanks.com, Kelly is a 4-star analyst with an average return of 6.1% and a 55.9% success rate. Kelly covers the Services sector, focusing on stocks such as Booking Holdings Inc, Yatra Online Inc, and Ctripcom.

TripAdvisor Inc has an analyst consensus of Hold, with a price target consensus of $52.50, which is a -21.6% downside from current levels. In a report issued on October 25, Credit Suisse also upgraded the stock to Hold with a $51 price target.

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Based on TripAdvisor Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $458 million and net profit of $69 million. In comparison, last year the company earned revenue of $439 million and had a net profit of $25 million.

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TripAdvisor, Inc. is an online travel company, which owns and operates a portfolio of online travel brands. It operates its business through the Hotel and Non-Hotel segments.