Barclays Maintains an 'Equalweight' on HomeAway (AWAY) on Mixed Q4/Guidance; Believe Growth Is Sustainable
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Price: $20.40 +0.20%
Rating Summary:
12 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on HomeAway (NASDAQ: AWAY) price target cut from $42 to $35.
Analyst, Mark May, said, "AWAY reported 4Q11 revenues and adjusted EBITDA that were modestly above our forecasts, with strong total YoY revenue growth of 28.5% (~27.5% organic revenue growth)...Despite the strong report, management's guidance was modestly below our expectations. CY12 revenue guidance of $276mn-$280mn was 2% below our forecasts at the midpoint, with the difference attributable mostly to unfavorable FX movements but also to conservatism around the economy in Europe."
"While we're maintaining our rating for now, we continue to believe that HomeAway can sustain its leading market share, and we see significant runway for growth in its core business in addition to meaningful incremental opportunities from refining its pricing strategy (e.g., tiered pricing) and by rolling out new offerings and service capabilities."
NOTE - shares are trading down to $23.27, $2.78 (-10.67%) lower. Volume is 10x average, currently close to 4 mln.
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 $26.05 yesterday.
Analyst, Mark May, said, "AWAY reported 4Q11 revenues and adjusted EBITDA that were modestly above our forecasts, with strong total YoY revenue growth of 28.5% (~27.5% organic revenue growth)...Despite the strong report, management's guidance was modestly below our expectations. CY12 revenue guidance of $276mn-$280mn was 2% below our forecasts at the midpoint, with the difference attributable mostly to unfavorable FX movements but also to conservatism around the economy in Europe."
"While we're maintaining our rating for now, we continue to believe that HomeAway can sustain its leading market share, and we see significant runway for growth in its core business in addition to meaningful incremental opportunities from refining its pricing strategy (e.g., tiered pricing) and by rolling out new offerings and service capabilities."
NOTE - shares are trading down to $23.27, $2.78 (-10.67%) lower. Volume is 10x average, currently close to 4 mln.
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 $26.05 yesterday.
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