TripAdvisor (TRIP) Stock Forecast & Price Target

Tripadvisor is positioned to benefit from a conservative valuation framework and the possibility that estimates could prove too low, supported by a potential `'28 EBITDA multiple of 5x-6.5x`. Its core hotel metasearch business still has meaningful scale, while Viator and TheFork create strategic optionality, especially with potential revival of spin/sale plans around Viator/TheFork that could unlock value. Although OTA advertisers may shift budgets away from metasearch and Google’s Hotel Ads remain a competitive headwind, regulatory changes and excess tax benefits from stock-based compensation could improve earnings resilience.

Tripadvisor is facing a deteriorating operating backdrop as 2Q revenue from continuing operations missed expectations at $441.9M and EBITDA of $76.4M also came in below consensus, while 3Q guidance called for revenue down 7% to 10% Y/Y and margins of 17% to 20%. The core Hotels and Other segment fell 20.5% Y/Y to $163.3M, Tripadvisor-branded traffic was down 22% in 2Q, and AI-driven zero-click search plus higher traffic acquisition costs are pressuring monetization and marketing efficiency. Viator remains the largest growth engine at 46% of 2025 revenue, but its growth slowed to 3% Y/Y, GBV rose only about 3%, and the company still lowered FY27 revenue and EBITDA estimates by 23% and 33% amid unclear reacceleration.