Bank of America Forecasts Strong Price Appreciation for Expedia Group (NASDAQ:EXPE) Stock

Key Points

• Bank of America has raised the price target for Expedia Group (NASDAQ:EXPE) from $211.00 to $240.00, indicating a potential upside of 27.92% from the current price.
• Despite the positive outlook from Bank of America, other firms like Goldman Sachs and Susquehanna have revised their price targets downward, reflecting mixed sentiments among analysts.
• Expedia Group reported an earnings per share of $4.24 for the last quarter, exceeding analyst expectations and showing a year-over-year revenue growth of 6.4%.

Expedia Group (NASDAQ:EXPE - Get Free Report) had its price objective increased by investment analysts at Bank of America from $211.00 to $240.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the online travel company's stock. Bank of America's target price points to a potential upside of 22.91% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler cut shares of Expedia Group from a "neutral" rating to an "underweight" rating and decreased their target price for the stock from $174.00 to $135.00 in a research report on Friday, May 9th. Benchmark reaffirmed a "buy" rating on shares of Expedia Group in a research report on Wednesday, July 23rd. Susquehanna reduced their price target on shares of Expedia Group from $205.00 to $175.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Wells Fargo & Company lifted their price target on shares of Expedia Group from $149.00 to $178.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Finally, The Goldman Sachs Group reduced their price target on shares of Expedia Group from $219.00 to $183.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Expedia Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $203.00.

Expedia Group Trading Up 4.1%

Shares of EXPE traded up $7.65 during mid-day trading on Friday, hitting $195.26. The company had a trading volume of 6,966,447 shares, compared to its average volume of 1,580,907. The business's 50-day simple moving average is $176.65 and its 200-day simple moving average is $172.70. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.92. Expedia Group has a 1-year low of $125.50 and a 1-year high of $213.00. The stock has a market cap of $24.82 billion, a PE ratio of 23.93, a P/E/G ratio of 0.93 and a beta of 1.61.

Expedia Group (NASDAQ:EXPE - Get Free Report) last released its earnings results on Thursday, August 7th. The online travel company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.13 by $0.11. Expedia Group had a net margin of 7.94% and a return on equity of 53.64%. The business had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $3.70 billion. During the same period last year, the company earned $3.51 earnings per share. The company's quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts forecast that Expedia Group will post 12.28 earnings per share for the current year.

Institutional Trading of Expedia Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Expedia Group by 2.7% during the first quarter. Vanguard Group Inc. now owns 15,201,811 shares of the online travel company's stock worth $2,555,424,000 after purchasing an additional 394,147 shares during the period. Geode Capital Management LLC raised its holdings in shares of Expedia Group by 1.7% during the second quarter. Geode Capital Management LLC now owns 3,414,935 shares of the online travel company's stock worth $574,364,000 after purchasing an additional 58,244 shares during the period. Alkeon Capital Management LLC raised its holdings in shares of Expedia Group by 20.2% during the first quarter. Alkeon Capital Management LLC now owns 2,375,276 shares of the online travel company's stock worth $399,284,000 after purchasing an additional 398,804 shares during the period. AQR Capital Management LLC raised its holdings in shares of Expedia Group by 174.0% during the first quarter. AQR Capital Management LLC now owns 1,444,283 shares of the online travel company's stock worth $235,592,000 after purchasing an additional 917,192 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Expedia Group during the first quarter worth $227,174,000. 90.76% of the stock is owned by institutional investors and hedge funds.

About Expedia Group

Expedia Group, Inc operates as an online travel company in the United States and internationally. The company operates through B2C, B2B, and trivago segments. Its B2C segment includes Brand Expedia, a full-service online travel brand offers various travel products and services; Hotels.com for lodging accommodations; Vrbo, an online marketplace for the alternative accommodations; Orbitz, Travelocity, Wotif Group, ebookers, CheapTickets, Hotwire.com and CarRentals.com.