In a report published Wednesday, Wunderlich Securities analyst Blake T. Harper reiterated a Hold rating on TripAdvisor TRIP, and raised the price target from $80.00 to $88.00.
In the report, Wunderlich Securities noted, “TripAdvisor, Inc. (TRIP) reported Q4 results above us and the consensus and guided FY14 revenue and EBITDA to grow in the mid-20s% range, which was slightly above the revenue consensus (up 23% Y/Y) and in line with EBITDA consensus (26% Y/Y). Click-based advertising revenue was up 17% Y/Y, Display was up 46% Y/Y, and Subscription/other was up 53% Y/Y, with Display well above our estimate of 24% Y/Y due to strength from several customers and the other two segments in line with expectations. We are raising our price target to $88 from $80 to reflect the higher results and guidance, which is derived from our DCF and implied multiples of 8x EV/S, 22x EV/EBITDA, and 33x P/E, which are justified premium to peers.”
TripAdvisor closed on Tuesday at $84.20.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in