Expedia Group (NASDAQ:EXPE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Expedia is benefiting from its well performing HomeAway, Brand Expedia, Expedia Partner Solutions and Hotels.com. All these are aiding the company’s gross bookings and stayed room nights which remain the key driver of its top-line growth. Additionally, the company’s strong initiatives toward strengthening footprints in the domestic regions are driving its domestic stayed room nights. This remains a tailwind. We believe Expedia’s strength in Core OTA, Brand Expedia, Hotels.com, Expedia Partner Solutions and Egencia will continue to benefit its market position. The expansion of global lodging portfolio will also continue to aid the lodging revenues of Expedia. However, sluggishness in the company’s trivago segment remains an overhang. Also, intensifying competition in the online travel space is a concern. Notably, the stock has underperformed the industry it belongs to over a year.”
A number of other research analysts have also commented on the stock. Morgan Stanley lowered shares of Expedia Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $150.00 to $125.00 in a research note on Wednesday. Goldman Sachs Group upgraded shares of Expedia Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $125.00 to $140.00 in a report on Friday, January 4th. BidaskClub cut shares of Expedia Group from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Telsey Advisory Group initiated coverage on shares of Expedia Group in a report on Wednesday, November 28th. They set a “market perform” rating and a $115.00 target price for the company. They noted that the move was a valuation call. Finally, TheStreet cut shares of Expedia Group from a “b” rating to a “c+” rating in a report on Wednesday, November 14th. Thirteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Expedia Group presently has a consensus rating of “Buy” and an average price target of $143.92.
Expedia Group (NASDAQ:EXPE) last posted its quarterly earnings data on Thursday, October 25th. The online travel company reported $3.65 EPS for the quarter, beating the Zacks’ consensus estimate of $3.12 by $0.53. Expedia Group had a net margin of 4.04% and a return on equity of 11.79%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the business earned $2.51 earnings per share. Sell-side analysts anticipate that Expedia Group will post 4.56 earnings per share for the current fiscal year.
In related news, insider Lance A. Soliday sold 3,281 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $119.28, for a total value of $391,357.68. Following the completion of the transaction, the insider now owns 7,674 shares of the company’s stock, valued at approximately $915,354.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 20.96% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in Expedia Group by 1,515.8% in the 3rd quarter. Renaissance Technologies LLC now owns 1,264,388 shares of the online travel company’s stock worth $164,977,000 after buying an additional 1,186,138 shares in the last quarter. Morgan Stanley lifted its position in Expedia Group by 128.4% in the 2nd quarter. Morgan Stanley now owns 979,095 shares of the online travel company’s stock worth $117,678,000 after buying an additional 550,396 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Expedia Group by 1,374.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 502,384 shares of the online travel company’s stock worth $65,551,000 after buying an additional 468,319 shares in the last quarter. Winslow Capital Management LLC lifted its position in Expedia Group by 25.2% in the 3rd quarter. Winslow Capital Management LLC now owns 1,930,406 shares of the online travel company’s stock worth $251,880,000 after buying an additional 389,022 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Expedia Group by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 751,824 shares of the online travel company’s stock worth $98,095,000 after buying an additional 185,877 shares in the last quarter. 79.83% of the stock is owned by hedge funds and other institutional investors.
About Expedia Group
Expedia Group, Inc, together with its subsidiaries, operates as an online travel company in the United States and internationally. It operates through Core OTA, Trivago, HomeAway, and Egencia segments. The company facilitates the booking of hotel rooms, airline seats, car rentals, and destination services from its travel suppliers; and acts as an agent in the transactions.
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