Tripadvisor (TRIP): UBS Evidence Lab Instant Booking (IB) Update
Get Alerts TRIP Hot Sheet
Rating Summary:
11 Buy, 29 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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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.
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