TripAdvisor, Inc (NASDAQ: TRIP) posted worse-than-expected earnings for its third quarter.
TripAdvisor said third-quarter revenue increased 51% year-over-year to $459 million, which beat average analyst estimates of $441.42 million. The travel company reported quarterly adjusted earnings of 28 cents per share, which missed average estimates of 38 cents per share.
TripAdvisor shares tumbled 17.3% to close at $19.68 on Tuesday. The company's stock dropped another 1.2% in today's session.
These analysts made changes to their price targets on TripAdvisor after the company released quarterly results.
- Barclays (LON:BARC) cut price target on TripAdvisor from $22 to $18. Barclays analyst Mario Lu maintained an Underweight rating on the stock.
- Citigroup (NYSE:C) slashed TripAdvisor price target from $27 to $22. Citigroup analyst Ronald Josey maintained a Neutral rating on the stock.
- Credit Suisse (SIX:CSGN) lowered TripAdvisor price target from $29 to $28. Credit Suisse analyst Stephen Ju maintained the stock with a Neutral.
- Mizuho lowered the price target on the stock from $26 to $22. Mizuho analyst James Lee maintained the stock with a Neutral.
- Wells Fargo (NYSE:WFC) lowered the price target on the stock from $30 to $22. Wells Fargo analyst Brian Fitzgerald maintained the stock with an Equal-Weight rating.