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UPDATE: Monness Crespi Hardt Upgrades HomeAway on Multiple Positive Factors

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In a report published Thursday, Monness Crespi Hardt analyst Bill Lennan upgraded the rating on HomeAway (NASDAQ: AWAY) from Sell to Neutral.

In the report, Monness Crespi Hardt noted, “We are upgrading AWAY shares to Neutral from Sell because: 1) in the past two quarters we have not seen the degradation in deferred revenue we expected. 2) Management's tone on Pay-per-booking has shifted to positive. On the Q2 (June) conference call, management talked down the Street's PPB expectations; on the Q3 call, management talked up PPB while remaining vague on the financial contribution of the product; 3) weak Q4 guidance was trumped by PPB optimism.”

HomeAway closed on Wednesday at $29.09.

Latest Ratings for AWAY

DateFirmActionFromTo
Aug 2014UBSInitiates Coverage onBuy
Jul 2014Credit SuisseMaintainsNeutral
Jul 2014Raymond JamesMaintainsStrong Buy

View More Analyst Ratings for AWAY
View the Latest Analyst Ratings

Posted-In: Bill Lennan Monness Crespi HardtAnalyst Color Upgrades Analyst Ratings

 

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