Results for “Trivago”

…e 12% / 3% Pandora P Ad revenue per listening hour growth 10% LendingTree TREE Variable marketing margin growth 29% y/y Trivago TRVG Qualified referral growth 56% y/y Wayfair W 2Q revenue growth guidance 25% y/y Wix WIX Premium subscribers growth 36% Yelp YELP 1Q Local advertisin...

we think the Street will view Trivago’s results

led by 50% qualified referral growth. We also expect Trivago will

as Trivago is driving brand awareness outside its key European

…jor OTA sign on for instant booking 3) high non-hotel shopper dollar capture and 4) improved global macro environment. Trivago NV (TRVG) Our PO of $15 is based on a 3.5x 2018E EV/Sales multiple. We note that 3.5x is roughly in line with the lead generation peer group average 20...

…nue and EPS We expect 1Q revenue/EPS of $2.13bn/S0.07 vs. the Street at $2.14bn/$0.06 driven by 8% core OTA growth, 48% Trivago growth (in USD), 2% Egencia growth, and 16% HomeAway growth. We expect room night growth to remain stable at 16% in 1Q’17 before accelerating on easier...

…nic growth and higher taxes on earnings), 8x 2018E EBITDA for Egencia (we expect single digit growth), 60% ownership of Trivago (using our PO), and HomeAway at 15x 2018 EV/EBITDA. Downside risks to our PO are: 1) economic downturn leading to fewer travel bookings, 2) competition...

… 143.62 ONDK ONDK 462 Pandora P 11.82 priceline.com PCLN 1761.77 Quotient QUOT 94 Snap SNAP 20.7 TripAdvisor TRIP 41.76 Trivago TRVG 12.81 Twitter TWTR 14.53 Wayfair W 40.21 Yahoo! YHOO 46.38 Yelp YELP 33.22 Zillow A ZG 33.49 Zillow C Z 33.47 ZYNGA ZNGA 2.18 Source: BofA Merrill...