猫途鹰财报不及预期股价大跌，机构下调目标价

Core Viewpoint - The stock of TripAdvisor (TRIP.US) experienced a significant decline on February 12, 2026, following the release of its fiscal year 2025 earnings report, which fell short of market expectations, leading to decreased investor confidence [1] Group 1: Financial Performance - The fiscal year 2025 earnings report revealed a year-over-year revenue increase to $1.891 billion and a substantial net profit growth to $40 million; however, the revenue growth rate has slowed down [2] - Market focus is on the anticipated negative earnings per share for the fourth quarter of 2025, indicating a shift from profit to loss, which directly impacts investor confidence in the company's earnings sustainability [2] Group 2: Institutional Perspectives - Before the earnings report, Wedbush lowered TripAdvisor's target price from $20 to $15 while maintaining a "hold" rating, reflecting a cautious outlook on the company's short-term performance and putting pressure on the stock price [3] Group 3: Industry Policy and Environment - The online travel industry is facing structural challenges, with growth increasingly reliant on improving the "quality-price ratio" [4] - The State Administration for Market Regulation initiated an investigation into Ctrip Group for alleged monopoly practices in January 2026, which may affect the entire online travel sector and increase policy uncertainty [4] Group 4: Financial and Technical Aspects - In the week leading up to the earnings report, TripAdvisor's stock price had already declined significantly, with a notable increase in turnover rate, indicating heightened risk-averse sentiment among investors [5] - On February 12, the stock exhibited considerable volatility, ultimately closing lower with a trading volume of approximately $99.62 million and evident selling pressure [5]