These Analysts Slash Their Forecasts On TripAdvisor After Q2 Results

Tripadvisor, Inc. TRIP reported worse-than-expected second-quarter sales results on Tuesday.

Adjusted earnings per share of 39 cents topped the street view of 37 cents. Quarterly revenues of $497 million missed the analyst consensus of $504.8 million, increasing 1% Y/Y.

Mike Noonan, Chief Financial Officer said, "Our consolidated performance reflected the strength of combined contributions across the segments, despite some of the anticipated top line headwinds in the quarter. Our operational progress provides us the confidence that our segment strategies are setting the groundwork for an attractive long-term financial profile."

TripAdvisor shares fell 14.1% to trade at $14.02 on Wednesday.

These analysts made changes to their price targets on TripAdvisor following earnings announcement.

• B. Riley Securities analyst Naved Khan downgraded Tripadvisor from Buy to Neutral and lowered the price target from $26 to $19.
• BMO Capital analyst Brian Pitz maintained the stock with a Market Perform and lowered the price target from $20 to $17.
• UBS analyst Lloyd Walmsley maintained Tripadvisor with a Neutral rating, while cutting the price target from $20 to $18.

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