Tripadvisor (TRIP) Jumps to New High as Earnings Impress, Analysts Go Bullish

We recently published 10 Stocks with Eye-Popping Gains; 5 Jump to New Highs. Tripadvisor, Inc. (NASDAQ:TRIP) is one of the best-performing stocks on Friday.

Tripadvisor touched a new all-time high on Friday as investors gobbled up shares following an impressive earnings performance and two analysts’ reaffirmation of their bullish stance on the stock.

In intra-day trading, Tripadvisor, Inc. (NASDAQ:TRIP) rallied to its highest 52-week price of $19.26 before paring gains to end the day just up by 11.68 percent at $17.97.

This followed a strong performance in the second quarter of the year, after GAAP net income increased by 49 percent to $36 million from $24 million in the same period last year, while total revenues rose by 7 percent to $529 million from $497 million year-on-year.

In the first half, Tripadvisor, Inc. (NASDAQ:TRIP) swung to a net profit of $25 million from a $35 million net loss in the same period last year. Revenues inched up by 3.9 percent to $927 million from $892 million.

Following the results, Tripadvisor, Inc. (NASDAQ:TRIP) earned a price target of $20 from both Bernstein and Wedbush.

Bernstein maintained its “outperform” rating, while Wedbush kept its “neutral” stance on the stock.

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