Tripadvisor (NASDAQ:TRIP) shares are up nearly 6% today after the online travel company posted robust results for the fourth quarter. Revenue jumped by 10.2% year-over-year to $390 million, outpacing estimates by about $15 million. Moreover, EPS of $0.38 exceeded expectations by a wide margin of $0.16.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
For the full year, TRIP’s top line rose by an impressive 20% to $1.8 billion. Notably, revenue in the company’s Viator and TheFork segments jumped by 49% and 22%, respectively. At the same time, a focus on efficiency and disciplined marketing spending resulted in its non-GAAP net income improving by 71% to $109 million in 2023.
Today’s price jump comes on top of a nearly 15% rise in TRIP’s share price over the past five sessions. This euphoria is a result of TRIP forming a special committee of its board members to review potential proposals and alternatives. Notably, Liberty Tripadvisor Holding, which already owns 21.1% of TRP, has expressed interest in acquiring the latter.
Is TRIP a Good Stock to Buy?
Overall, the Street has a Hold consensus rating on Tripadvisor, and the average TRIP price target of $22.91 points to a potential downside of 9.5% in the stock. The company’s share price has climbed nearly 69% over the past six months.
Read full Disclosure