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EXPE

Expedia

$107.58

1.9 (1.80%)

08:26
12/07/19
12/07
08:26
12/07/19
08:26

Expedia shares still a buy despite management changes, Barron's says

Shares of Expedia remain a buy despite this week's management shakeup and the recent earnings disappointment, according to Avi Salzman of Barron's. At around $107 per share, Expedia trades at 15.4 times forward four-quarter estimates, a "wide discount" to its historical average of more than 20 times, and to the S&P 500 index overall, Salzman says. Further, even with its recent difficulties, Expedia remains a "solid enterprise," with its core hotel bookings growing 10% this year, Salzman contends. Reference Link

  • 09

    Dec

EXPE Expedia
$107.58

1.9 (1.80%)

12/04/19
GUGG
12/04/19
NO CHANGE
Target $135
GUGG
Buy
Expedia's surprise CEO, CFO ouster raises questions on outlook, says Guggenheim
Guggenheim analyst Jake Fuller says the surprise ouster of Expedia's CEO Mark Okerstrom and CFO Alan Pickerill raises questions about the company's 2020 outlook. Fuller says a disagreement over growth prospects was part of the reasoning for the ousters, suggesting the CEO and CFO may have been getting ready to drop weak guidance, and says it will be "hard" to form a solid thesis until there is more visibility on the 2020 outlook, new leadership and strategic focus. The analyst keeps a Buy rating and $135 price target on the shares.
12/04/19
RBCM
12/04/19
NO CHANGE
Target $125
RBCM
Outperform
Expedia price target lowered to $125 from $142 at RBC Capital
RBC Capital analyst Mark Mahaney lowered his price target for Expedia to $125 from $142 following the "surprising" news that CEO Mark Okerstrom and CFO Alan Pickerill will leave the company, effective immediately, due to a strategic disagreement with the board who felt they required a change in management. In a research note to investors, Mahaney says he is "less optimistic" following the "pretty dramatic steps taken against such long tenured executives" given what now looks like higher execution risk due to the uncertain management team. The analyst keeps an Outperform rating on the shares.
12/04/19
STFL
12/04/19
NO CHANGE
STFL
Stifel 'incrementally optimistic' on Expedia amid management transition
Stifel analyst Scott Devitt maintained a Hold rating and $125 price target on Expedia (EXPE) following the company's announcement that CEO Mark Okerstrom and CFO Alan Pickerill were stepping down, chairman Barry Diller and vice chairman Peter Kern would be temporarily overseeing operations, and the company had authorized a share repurchase for up to 20M shares. The analyst noted that Diller would be purchasing additional shares of Expedia and "expressed the board's confidence in the company's ability to accelerate growth in 2020." While Devitt kept a Hold rating on Expedia, he was "incrementally optimistic on the near-term opportunity in share price upside, given a potential refocusing of the business, an increased commitment in returning capital to shareholders via share repurchases, and an undemanding valuation."
12/05/19
RBCM
12/05/19
NO CHANGE
Target $125
RBCM
Outperform
Expedia price target lowered to $125 from $142 at RBC Capital
RBC Capital analyst Mark Mahaney lowered his price target on Expedia to $125, reflecting his declining optimism amid a "surprise" announcement of long-term executives leaving the company due to "strategic disagreements" with its Board. The analyst notes that while the stock rose over 6% yesterday on "value creation opportunities" coming from the company's reorganization plan - which may include a sale of poor-performing businesses like Trivago - the company still faces challenges that go unresolved with departed management. Mahaney still keeps his Outperform rating on Expedia however, citing its "highly attractive" valuation.

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