SerpApi.Org
Shares of Tripadvisor (TRIP) edged around 2.4% lower after BTIG downgraded the stock to “Neutral” from “Buy,” citing artificial intelligence risks, estimate pressure, and limited visibility on strategic options.
Analyst Jake Fuller said Tripadvisor (TRIP) is on the “wrong side of the AI theme,” given its top-of-funnel positioning, where pressure is building from zero-click search impacting SEO and likely to accelerate as large platforms gain traction in travel planning.
The analyst said estimates have “consistently trended lower” and cut its second-half forecasts below Street expectations, with data checks pointing to ongoing traffic pressure at the core Tripadvisor (TRIP) brand and mixed trends at Viator.
“Although inexpensive at 5.5x '26 EBITDA, we don't see a path towards further strategic value unlock for TRIP,” Fuller said, adding that Viator is unlikely to be spun off following the planned sale of TheFork.
The firm said prior expectations of unlocking value through assets such as Viator and TheFork have diminished, with the story now more reliant on fundamentals.
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