Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Expedia Inc (NASDAQ:EXPE) shares were down at the end of Monday's session after Susquehanna dropped its bullish stance on the online travel agency.
The Analyst
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Shyam Patil downgraded Expedia from Positive to Neutral and lowered the price target from $170 to $141.
The Thesis
While he is still constructive on the long-term online hotels and alternative accommodations space, Patil said he does not see a catalyst to move Expedia shares higher and is not expecting upward estimate revisions in the near-term. (See the analyst's track record here.)
“Moreover, EXPE is facing some challenges in one of its key growth drivers- Vrbo (formerly HomeAway), as the brand transition and SEO headwinds appear to be weighing on bookings growth; we believe it could take several quarters to resolve these issues."
Shares are likely to remain rangebound in the nerm-term, Patil said.
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
Expedia reported first-quarter earnings last week, delivering mixed results that included a big sales miss.
Fortunately for the company, lower operating expenditures offset the revenue miss, and EBITDA of $176 million came in 28 percent above consensus estimates.
Room nights fell in-line, but softness at Vrbo introduces some uncertainty around the outlook, Patil said.
“Looking ahead, EXPE appears constructive on the core lodging nights growth trajectory, but headwinds from the AWAY to Vrbo transition are likely to remain for the next couple quarters."
Price Action
Expedia shares were down 2.37 percent at $124.09 at the time of publication Monday.
Related Links:
Guggenheim: If You Like TripAdvisor, You Might Also Like Trivago
Difference Of Opinion: Mizuho Initiates Trivago With Buy, JPMorgan Downgrades To Underweight
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.