TripAdvisor (TRIP) shares plummeted 5.04% during intraday trading on Friday, extending recent losses for the online travel platform.
The sharp decline followed bearish analyst actions, including Goldman Sachs lowering its price target on TripAdvisor to $80 from $92 while maintaining a Neutral rating. Separately, Barclays cut its target price on the company to $10 from $13. These revisions reflect growing caution among analysts following the company's recent disappointing earnings report.
Broader market sentiment also weighed on the stock, as investors continue to sell shares of companies perceived as vulnerable to disruption from artificial intelligence. The travel and leisure sector has seen a sharp divergence, with online travel platforms like TripAdvisor facing significant pressure while traditional hotel operators rally. Concerns that AI could fundamentally alter the business models of travel booking platforms have contributed to the sector-wide sell-off.