2023-08-07 15:26:15 ET
Expedia Group ( NASDAQ: EXPE ) jumped 4.2% on Monday after Citigroup adjusted its price target on the stock to $115 from $105.
The firm maintained a Neutral rating on shares.
Last week, the online travel company reported gross bookings in Q2 that missed expectations. While Expedia's ( EXPE ) revenue of $3.36B was roughly in-line with estimates, the closely-watched gross bookings metric was $27.32B vs. $28.89B consensus. Booked room nights were up 9%, and lodging bookings rose 7%.
Chief Executive Officer Peter Kern said at the time that travel demand remained strong in Q2 and noted the company recently took a major leap forward in its consumer business with the launch of One Key in the U.S., which he called the most flexible and comprehensive rewards program in the industry.
The stock has 11 Strong Buy ratings from Wall Street analysts, five Buys, 16 Holds and one Strong Sell.
EXPE is up 23% so far this year and 2.2% over the past 12 months.
More on Expedia:
- Expedia Group, Inc. ( EXPE ) Q2 2023 Earnings Call Transcript
- Expedia falls to two-month low after gross bookings tally disappoints
- Expedia Non-GAAP EPS of $2.89 beats by $0.53, revenue of $3.36B misses by $10M
For further details see:
Why did Expedia stock jump today? Citi’s price adjustment