Analysts at Jefferies lowered the price target on shares of TripAdvisor Inc TRIP from $90 to $82 and maintained the Hold rating following third quarter results.
Tripadvisor reported margins that were lower than expected for the third quarter and offered guidance that came in below census.
Consequently, Brian Fitzgerald has lowered Tripadvisor estimates.
“We are updating our model to reflect Q3 results and new guidance. Our top line estimates change to reflect the contribution from Viator and La Fourchette with near-term offset by seasonally soft click-based revenue in Q4. Our margins, however, come down slightly as management continues investing in growth opportunities and in brand building.”
Shares of TripAdvisor recently traded at $72.80, down 13.1 percent.
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