Shares of the online travel company rose 5.5% on Monday, higher than the 4% gains on Friday following its quarterly report.
Expedia Group (EXPE) shares climbed 5.5% on Tuesday, after several analysts lifted their price targets based on the online travel company’s strong earnings report last week.
Citi raised its price target to $206 from $177, while Susquehanna raised the target to $200 from $175. Both research firms kept their ‘neutral’ ratings on the stock, according to reports on The Fly.
Bernstein raised its price target to $210 from $162, although it believes further share upside from current levels would be hard to come by in the near term. To be sure, analysts’ price targets are typically for the forward 12-month period.
Expedia on Thursday reported stronger-than-expected second-quarter results and raised its full-year revenue growth forecast, citing robust business travel and an early recovery in the U.S. market. Shares gained 4% on Friday, as analysts penciled in favorable travel trends that were recently echoed by Booking Holdings (BKNG) and Airbnb (ABNB).
On Stocktwits, retail sentiment has remained firmly in the “extremely bullish” zone since last Friday, as of the latest reading. However, message volume dropped 38% in the previous 24 hours, and some users warned of a pullback in shares.
“Set trailing stops to exit at very slight profit. Best wishes, everyone,” said a user.
Currently, 21 of the 36 analysts covering the stock rate it ‘hold,’ 14 rate it ‘buy’ and one rates it ‘strong sell,’ according to Koyfin data. Their average price target is $221.12, which implies a nearly 9% upside from EXPE’s last close.
Expedia shares are up 9% year-to-date, just a notch lower than the 9.6% gains in the benchmark S&P 500 (SPX) index.
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