RBC Capital analyst, Mark Mahaney, reiterated his Outperform rating on shares of Expedia (NASDAQ: EXPE) and cut his price target to $155 from $175 after Natural Disasters in Texas, Florida and the Caribbean drove results below expectations. Gross Bookings, Room Nights, Revenue and EBITDA were all below Street. Management also lowered 2017E EBITDA growth (now mid-high-single digits) and soft guided to 2018 EBITDA growth of low double-digits.

The analyst stated "We are near-term cautious following the Q3 print, but our long-term thesis is unchanged". He went on to state "We see a tremendous growth runway for HomeAway in particular as the company grows its footprint domestically and pushes into International markets and urban locations. With only one-third of HomeAway properties Instantly Bookable, we believe it is still early days for this asset".

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Shares of Expedia closed at $147.35 yesterday.