Tripadvisor Inc
TRIP: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$41.00 | Vdph | Pfbxwfb |
Tripadvisor: Moat Rating Downgraded to None From Narrow on Intensified Metasearch Competition
We have downgraded our Tripadvisor moat rating to none from narrow as we expect eroding profitability in the company’s core metasearch business (64% of 2022 sales) due to competition from wide-moat companies Alphabet as well as Meta and Amazon (in the future). As a result, our fair value estimate moves to $27 per share from $31, although the shares still appear undervalued.