Starboard Value Plans Board Shake-Up at Tripadvisor

Written by Emily J. Thompson, Senior Investment Analyst

Source: seekingalpha

Updated: 9 hours ago

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TRIP-6.88%

Should l Buy TRIP?

Source: seekingalpha

Shareholder Action Plan: Activist investor Starboard Value is preparing to nominate a majority slate on Tripadvisor's eight-person board, with its stake now exceeding 9%, indicating a strong focus on corporate governance aimed at driving strategic transformation.
Board Restructuring Intent: CEO Jeff Smith of Starboard plans to issue a formal letter to Tripadvisor's board on Tuesday morning, signaling a commitment to restructuring the board, which could influence the company's future decision-making direction.
Market Reaction Expectations: This board restructuring plan may prompt a reevaluation of Tripadvisor's future strategy in the market, especially as the company faces declining performance and intensified competition, leading to heightened investor scrutiny on its governance structure.
Strategic Transformation Pressure: As Tripadvisor shifts towards an experience-first business model, it faces challenges in revenue structure adjustment, with marketplace revenue expected to account for two-thirds of total revenue by 2026; Starboard's involvement could accelerate this transformation process.

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Analyst Views on TRIP

Wall Street analysts forecast TRIP stock price to rise

10 Analyst Rating

1 Buy

6 Hold

3 Sell

Hold

Current: 10.320

Low

12.50

Averages

16.17

High

20.00

Current: 10.320

Low

12.50

Averages

16.17

High

20.00

Cantor Fitzgerald

Deepak Mathivanan

Underweight

downgrade

$14 -> $10

2026-02-13

New

Reason

Cantor Fitzgerald

Deepak Mathivanan

Price Target

$14 -> $10

AI Analysis

2026-02-13

New

downgrade

Underweight

Reason

Cantor Fitzgerald analyst Deepak Mathivanan lowered the firm's price target on TripAdvisor to $10 from $14 and keeps an Underweight rating on the shares. TripAdvisor's Q4 revenue was roughly in line with estimates, but EBITDA missed by $7M, and Q1 guidance came below prior Street expectations due to ongoing hotel demand headwinds and near-term investments in Experiences, the analyst tells investors in a research note. The company expects modest FY26 revenue growth and mid-single-digit EBITDA growth, while its strategic focus on scaling Experiences is viewed as a sound long-term move despite structural challenges to its core business, Cantor says.

Wedbush

Scott Devitt

Neutral

downgrade

$15 -> $12

2026-02-13

New

Reason

Wedbush

Scott Devitt

Price Target

$15 -> $12

2026-02-13

New

downgrade

Neutral

Reason

Wedbush analyst Scott Devitt lowered the firm's price target on TripAdvisor to $12 from $15 and keeps a Neutral rating on the shares. The firm notes Tripadvisor reported weak Q4 results with revenue and adjusted EBITDA below expectations. In the quarter, the company realigned financial results into new reportable segments. This change effectively removes intersegment eliminations, which had primarily represented revenues recognized by Brand Tripadvisor from affiliate marketing fees paid by Viator and TheFork.

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About TRIP

Tripadvisor, Inc. is an online travel company. The Company leverages its brands, technology, and capabilities to connect its global audience with partners through content, travel guidance, and two-sided marketplaces for experiences, accommodations, restaurants, and other travel categories. The Company operates through three segments: Brand Tripadvisor, Viator, and TheFork. Its Brand Tripadvisor segment is engaged in providing an online global platform for travelers to discover, generate, and share authentic user-generated content (UGC) in the form of ratings and reviews for destinations, points-of-interest (POIs), experiences, accommodations, restaurants, and cruises. The Viator segment offers travelers a comprehensive online marketplace that provides access to over 400,000 experiences and more than 65,000 experience operators. TheFork segment offers an online marketplace that enables diners to discover and book online reservations at approximately 55,000 restaurants in 11 countries.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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