RBC's Mahaney Cuts TripAdvisor's (TRIP) Below Market PT Even Lower

November 9, 2016 6:50 AM EST
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Price: $52.13 +1.44%

Rating Summary:
    2 Buy, 34 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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RBC Capital analyst, Mark Mahaney, reiterated his Sector Perform rating on shares of TripAdvisor (NASDAQ: TRIP) and cut his below market price target to $50 after TRIP posted Q3 results below Street expectations and even lower RBC estimates.

A surprising portion of the guidance was a step-up in Variable Marketing investments in 2017 causing margins to be lower than in 2016 . Instant booking dilution and Mobile Monetization challenges persist taking estimates & and the price target lower.

The new PT is $50, down from $55, based on a blended average of a 45x P/E multiple and a 20x EV/EBITDA multiple on our 2018 estimates.

For an analyst ratings summary and ratings history on TripAdvisor click here. For more ratings news on TripAdvisor click here.

Shares of TripAdvisor closed at $63.10 yesterday.

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