BTIG Reiterates Buy Rating on Expedia (EXPE)

BTIG analyst Jake Fuller reiterated a Buy rating and $150.00 price target on Expedia (NASDAQ: EXPE).

The analyst comments "We recently took a look at EXPE's weak spots (VRBO and air), but there are bright spots too, and we now know a bit more about a key one. Highlights: 1) B2B has driven growth at EXPE, but disclosures are limited to revenue with no insight into critical modeling elements like room nights or bookings; 2) We recently learned that B2B accounted for ~100M room nights last year, which gives us enough to come up with a pretty good sense of the composition of growth (~60% of room night growth in 2023) and a framework to understand the 2024 outlook; 3) The path to HSD room night growth this year appears plausible with B2C up MSD (+7% last year) and B2B up 16-19% (+30% last year)."

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

Shares of Expedia closed at $110.11 yesterday.

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