In a note date November 21, Credit Suisse analyst Stephen Ju assumed coverage of HomeAway, Inc. (NASDAQ: AWAY) by maintaining Neutral rating and $40 price target.
Ju has assumed coverage of HomeAway due to the departure of the primary analyst. As such, he has provided some insight into his investment case.
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Ju commented, "We carry a constructive view on AWAY shares given that its leadership position and scale in the nascent vacation rental market should enable it to further extend its lead through the roll out of features and tools that remove transactional friction for both property owner/manager and the consumer."
To that end, Ju is monitoring three key factors and the company continues its shift from a classifieds platform to a marketplace platform:
- The intent to require the majority of listing to be able to booked online by 2016.
- Improved calendar accuracy
- PPB initiatives, which could potentially increase the growth trajectory as well as the company's margin profile.
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