Tripadvisor (TRIP): UBS Evidence Lab Instant Booking (IB) Update

UBS analyst, Eric Sheridan presented the 2nd data release of UBS' Evidence Lab scan data for TripAdvisor (NASDAQ: TRIP) Instant Booking (IB) & metasearch, across ~10k properties in the US & Canada. No change to Neutral rating or $66 PT.

Key findings:

a) TRIP IB penetration has stabilized in the high-90%s range (97% & 96% in March & April, respectively)

b) OTAs continue to handle the majority of IB buttons observed in our data, reaching 74% in April data. Specifically, Booking.com remains the leading IB partner with ~60% share

c) Booking.com was also the leading meta-search advertiser in March & April with a 47% & 52% share respectively (above its average share of 41% in the first five monthly data points), contrary to fears of a potential meta pullback by PCLN.

At the Inc. level, PCLN has surpassed EXPE in top metasearch slot share for both March & April.

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 $67.32 yesterday.

You May Also Be Interested In

• TripAdvisor (TRIP) PT Raised to $28 at Citi
• Comerica (CMA) PT Raised to $54 at Piper Sandler
• AvidBank Holdings Inc. (AVBH) PT Lowered to $23 at Piper Sandler