Shares of Ryanair Holdings plc (ADR) (NASDAQ:RYAAY) are trading up slightly in early morning trading as the company has decided to sue Google as well as the international travel agent, eDreams for what they call ‘misleading adverts’.
Ryanair Holdings plc (ADR) (NASDAQ:RYAAY) claims that eDreams had used misleading subdomains such as www.Ryanair.eDreams.com to advertise their own offers, selling tickets for higher prices than Ryanair’s own website did.
“Following Google’s refusal to stop these false advertising practices (which are in breach of Google’s own code of conduct), Ryanair has been left with no alternative than to take legal proceedings against both eDreams and Google in the Irish High Courts,” Ryanair stated.
The stock is up 0.61% or $0.47 after the news, hitting $77.37 per share. About 87,413 shares traded hands. RYAAY has risen 15.47% since April 28, 2015 and is uptrending. It has outperformed by 17.09% the S&P500.
Out of 5 analysts covering Ryanair Hldgs (NASDAQ:RYAAY), 3 rate it “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Ryanair Hldgs was the topic in 5 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Raymond James upgraded the stock on November 3 to “Outperform” rating. Evercore initiated the shares of RYAAY in a report on September 28 with “Buy” rating.
Ryanair Holdings plc is a holding firm for Ryanair Limited (Ryanair). The company has a market cap of $20.00 billion. Ryanair operates a low fare, scheduled-passenger airline serving short-haul, point-to-point routes between Ireland, the United Kingdom, Continental Europe and Morocco. It has 13.44 P/E ratio. The Company’s principal fleet consists of Boeing 737-800 aircraft, each having 189 seats.