Canaccord Genuity Maintains a 'Hold' on HomeAway (AWAY); Cutting Numbers on Lower Multiple

July 26, 2012 11:33 AM EDT Send to a Friend
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Price: $34.42 +2.59%

Rating Summary:
    11 Buy, 11 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
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Canaccord Genuity maintains a 'Hold' on HomeAway (NASDAQ: AWAY) price target of $25.00 (from $30.00).

Analyst, Michael Graham, said, "Q2 results largely met expectations on revenue and earnings, but continued FX weakness in the Euro has resulted in a tamer 2012 outlook by the company. We continue to believe that HomeAway has a solid business model and benefits from a number of opportunities that could result in substantial upside, but given the company’s current valuation we see a balanced risk/reward profile...We have slightly tweaked our estimates and lowered our target price to account for a lower multiple."

For an analyst ratings summary and ratings history on HomeAway click here. For more ratings news on HomeAway click here.

Shares of HomeAway closed at $21.55 yesterday.

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