EXPE - Why Expedia Stock Was Up 11.5% in December
2024-01-05 15:12:11 ET
Shares of online travel agency Expedia Group (NASDAQ: EXPE) were up 11.5% in December, according to data provided by S&P Global Market Intelligence . The company's revenue has rebounded to an all-time high and profits are strong, boosting investor confidence. And indeed, throughout the month, Wall Street was increasing its outlook for the stock.
Multiple analysts raised their price targets for Expedia stock during December. And management believes its stock is undervalued as well. The company had an existing authorization plan in place for share repurchases, with the ability to repurchase 1 million shares. However, in November, it added $5 billion in authorization.
It's possible, if not likely, that Expedia's management was repurchasing shares during December. This potentially boosted the stock price. And Wall Street's higher price targets also helped stimulate buying demand from investors.
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Why Expedia Stock Was Up 11.5% in December