Tripadvisor Q1 Results Beat Expectations (TRIP)
Tripadvisor Inc.’s (NASDAQ: TRIP) fiscal first-quarter results topped street’s expectation.
On Tuesday, the travel planner reported a net income of $62.3 million or 43 cents a share for the fiscal first quarter, up from $48.1 million or 35 cents a share, in the year-earlier quarter.
Adjusted or non-GAAP earnings came at $73.1 million or 50 cents a share compared to $52.5 million or 38 cents a share, in the same quarter of last fiscal.
Revenue for the period soared 25% to $229.92 million from $183.72 million.
Analysts surveyed by Thomson Reuters were expecting earnings of 46 cents a share on revenue of $223.76 million.
Meanwhile the Company also announced that it has agreed to acquire Numba.com ( a vacation rental site); however, financial details of the deal were not made known.
A number of Wall Street equity research firms have upgraded the stock.
On Monday, analysts at Monness Crespi & Hardt lifted their price target on the stock to $60 from $50 and set a “buy” rating.
Earlier on April 30, analysts at Thomson Reuters/ Verus boosted their rating on the stock to “buy” rating from “sell” rating.
Finally, analysts at Deutsche Bank in their research report released April 18, maintained a “buy” rating and lifted the price target on the stock to $57.00 from $52.00.
At present, 14 equity research firms maintain “hold” rating, nine firms have “buy” rating while one firm keep “sell” rating on the stock. On average, the stock has “hold” rating and price target of $51.15.
Shares however fell 1.84% in aftermarket hours to $54.00 after slipping 0.29% in regular trading hours.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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