Report
Dan Wasiolek

TripAdvisor's Share Rally Supports Our View of Intact Network Advantages and Reaccelerating Growth

With shares up 65% year to date (versus a 3% rise for the S&P 500), narrow-moat TripAdvisor is now trading near our $56 fair value estimate. We think this outperformance validates our thesis that ongoing initiatives would allow the company to monetize its intact network advantage, leading to a reacceleration in revenue growth in 2018. In our view, TripAdvisor initiatives (TV campaign, new user interface, and a reorganization of divisions) and a solid network (450 million monthly visitors wit...
Underlying
TripAdvisor Inc.

TripAdvisor is an online travel company. The company operates a travel platform that connects the travelers with travel partners through content, price comparison tools, and online reservation and related services for destinations, accommodations, travel activities and experiences, and restaurants. The company manages its business in the following segments: Hotels, Media and Platform, which provides services such as click-based advertising on Tripadvisor-branded websites, subscription-based and display-based advertising, and other services; Experiences and Dining, which provides information and services for consumers to research and book activities, attractions, and restaurants in travel destinations.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Dan Wasiolek

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