Expedia (EXPE) PT Raised to $325 at Goldman Sachs

Goldman Sachs analyst Eric Sheridan raised the price target on Expedia (NASDAQ: EXPE) to $325.00 (from $295.00) while maintaining a Buy rating.

The analyst comments "Expedia Group (EXPE) - Mgmt. spoke to an improved travel demand environment in Q3 (with an acceleration in the US & continued strength in RoW) driven by expanded booking windows and longer lengths of stay. By region, US room nights were up +HSD% YoY (strongest growth in over 3 years), EMEA +LDD% YoY, & RoW +high-teens % YoY (including over +20% YoY in Asia). For Q4, mgmt. spoke to continued momentum in October (albeit pointing to tougher comps as they lap a period of outsized growth in 2024), raising FY guidance (gross bookings +7% YoY from +3-5% prior; revenue +6-7% YoY from +3-5%) due to better-than-expected trends YTD. The B2B business delivered strong performance with +26% YoY bookings growth, while the consumer business saw +7% bookings growth (with +DD% growth outside the US). Brand Expedia remained the fastest growing consumer brand in Q3, while Hotels.com & Vrbo improved both sequentially & YoY."

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