Expedia Rating Increased to Hold at Deutsche Bank (EXPE)
Expedia (NASDAQ:EXPE) was upgraded by Deutsche Bank to a “hold” rating in a research note issued on Friday. The firm currently has a $80.00 price objective on the stock, up from their previous price objective of $70.00. Deutsche Bank’s price objective would indicate a potential upside of 0.73% from the stock’s previous close.
The analysts wrote, “Expedia reported a big beat and raise quarter in 2Q, up against very high expectations. Room night growth accelerated in both domestic and intern’l from Travelocity/Easter and easy comps with last year’s Tripadvisor and eLong/Qunar issues. We are encouraged by the progress and the growth, but the 2H14 guidance assumes mid-teens growth, or around 12% ex-Travelocity, which we estimate is organic growth. We have missed most of the move at EXPE since mid-2013, and while we increase our estimates, we believe that most of the strong performance is priced in at 18x non-GAAP EPS and 11x EBITDA.”
Expedia (NASDAQ:EXPE) traded up 6.35% during mid-day trading on Friday, hitting $84.46. 3,341,384 shares of the company’s stock traded hands. Expedia has a 52-week low of $45.69 and a 52-week high of $82.36. The stock has a 50-day moving average of $78.93 and a 200-day moving average of $73.96. The company has a market cap of $10.965 billion and a P/E ratio of 33.98. Expedia also was the recipient of unusually large options trading activity on Wednesday. Traders purchased 24,717 call options on the stock. This is an increase of 609% compared to the typical daily volume of 3,485 call options.
Expedia (NASDAQ:EXPE) last released its earnings data on Thursday, July 31st. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.76 by $0.27. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 24.0% on a year-over-year basis. Analysts expect that Expedia will post $3.84 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cantor Fitzgerald raised their price target on shares of Expedia from $82.00 to $92.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Expedia to $95.00 in a research note on Friday. Finally, analysts at Raymond James upgraded shares of Expedia from a “market perform” rating to an “outperform” rating in a research note on Friday. They now have a $100.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $81.96.
Expedia, Inc (NASDAQ:EXPE) is an online travel company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.