Why TripAdvisor Stock Fell 6.7% Today
Shares of TripAdvisor (NASDAQ: TRIP) were down more than 6.7% on Monday after several analysts cut their price targets on the travel-recommendation site.
TripAdvisor reported first-quarter earnings late last week that badly missed expectations, and in what should have been an unsurprising update given the COVID-19 pandemic, it forecast the second quarter would be materially worse than the first.
A conga line of Wall Street analysts said the poor prospects for travel made TripAdvisor an inadvisable investment at its current price. Where Barclays offered a moderate price reduction from $23 per share to $21, others such as Credit Suisse offered a more substantial cut, lowering its price target from $28 to $22.
Source Fool.com
