The analyst action comes after the Chinese online travel commerce platform reported strong first quarter results yesterday, beating analyst estimates.
For the first quarter of 2015, the company reported revenue of $108.3 million, or loss of 40 cents per share, compared to revenue of $55 million, or loss of 8 cents per share in the same period a year ago.
The company was expected to report revenue of $101.5 million or loss of 41 cents per share for the first quarter of 2015, according to analysts polled by Thomson Reuters.
"We are one of the largest e-commerce companies in China and among the fastest growing, and this is the fourth consecutive quarter that our year-on-year revenue grew 100% or above," CEO Chenchao Zhuang said.
Separately, the company yesterday rejected an acquisition offer from Chinese travel booking company Ctrip.com (CTRP), and instead announced that it will receive a $500 million investment from private equity firm Silver Lake Partners.
In Tuesday's late morning trading session, shares of Qunar Cayman Islands are gaining 0.09% to $46.05.
Separately, TheStreet Ratings team rates QUNAR CAYMAN ISLANDS -ADR as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate QUNAR CAYMAN ISLANDS -ADR (QUNR) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and feeble growth in its earnings per share."