UPDATE: Expedia (EXPE) Shares Sink as Piper Jaffray Downgrades Amid Recent Rally
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Price: $58.01 --0%
Rating Summary:
12 Buy, 23 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 17 | New: 9
Rating Summary:
12 Buy, 23 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 17 | New: 9
Trade EXPE Now!
(Updated - June 19, 2012 12:32 PM EDT)
Shares of Expedia (NASDAQ: EXPE) are being sold Tuesday following an earlier downgrade from Piper Jaffray's Michael Olson. The analyst now rates Expedia shares a Neutral, down from Overweight previously. Olson maintains a $53 price target.
With Expedia shares up 9 percent so far in June and up a very sharp 53 percent since the end of April, the Piper Jaffray analyst's call was based on valuation.
Olson also pointed to data showing the company's three European brands had a sequential uptick in quarterly unique visitors through May, and said April may prove to be a "high point" for the second quarter.
The analyst's top picks for the travel group are Priceline (Nasdaq: PCLN) and TripAdvisor (Nasdaq: TRIP).
Shares of Expedia are down 2.5 percent to $48.71 at last check.
For an analyst ratings summary and ratings history on Expedia click here. For more ratings news on Expedia click here.
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Shares of Expedia (NASDAQ: EXPE) are being sold Tuesday following an earlier downgrade from Piper Jaffray's Michael Olson. The analyst now rates Expedia shares a Neutral, down from Overweight previously. Olson maintains a $53 price target.
With Expedia shares up 9 percent so far in June and up a very sharp 53 percent since the end of April, the Piper Jaffray analyst's call was based on valuation.
Olson also pointed to data showing the company's three European brands had a sequential uptick in quarterly unique visitors through May, and said April may prove to be a "high point" for the second quarter.
The analyst's top picks for the travel group are Priceline (Nasdaq: PCLN) and TripAdvisor (Nasdaq: TRIP).
Shares of Expedia are down 2.5 percent to $48.71 at last check.
For an analyst ratings summary and ratings history on Expedia click here. For more ratings news on Expedia click here.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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Expedia Troubles?
SteveO on Jun 19, 2012 03:58 PMMark as Spam | Reply to this comment
Even with online travel booking rising, Expedia has some things to worry about.
Price wars. They are losing them. And it isn't hard for their customers to find lower priced options for hotels and flights.
Here is a good price comparison of Expedia vs a "Hotel Search Engine" that simple searches more sites and offers better pricing:
http://besttravelcoupon.com/blog/expedia-hotel-deals/
As you can see, they are NOT winning on price. It's all about name recognition for Expedia now. But that is changing as more of their customers learn about sites with better prices.
I agree with the concerns about the stock now.