Why Trivago Stock Was Gaining Today
Shares of Trivago (NASDAQ: TRVG) were bouncing back today as value hunters seemed to spy opportunity in the hotel metasearch company after the stock had fallen nearly 40% since the coronavirus sell-off first began. Shares jumped as much as 23% this morning as the broad market opened higher and were trading up 4.9% as of 11:46 a.m. EDT, even as the S&P 500 had given up most of its gains.
Yesterday Trivago stock tumbled 17% on the broad market sell-off, though one analyst seems to see value in the travel stock. Guggenheim analyst Jake Fuller lowered his price target yesterday from $3 to $2, citing a steeper revenue decline due to the coronavirus outbreak and spending rationalization from key partners like Booking Holdings and Expedia. Nonetheless, Fuller kept his buy rating on Trivago for valuation reasons, and based on his price target, he sees an upside of about 33% for the stock.
Image source: Trivago.
Source Fool.com
