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Investing.com - Evercore ISI raised its price target on Expedia (NASDAQ:EXPE) to $350.00 from $280.00 on Friday, maintaining an Outperform rating following the company’s third-quarter earnings results.
The travel booking platform reported gross bookings of $30.7 billion, representing a 12% year-over-year increase, while revenue grew 9% year-over-year to $4.41 billion. EBITDA reached $1.45 billion with a 32.8% margin, exceeding both Street and Evercore ISI expectations.
Evercore ISI noted that Expedia ’s bookings accelerated by 7 percentage points despite facing a slightly tougher comparison from the previous year. Revenue growth accelerated by 3 percentage points on an easier comparison, while EBITDA margins expanded by 200 basis points year-over-year.
The research firm highlighted that Expedia’s fourth-quarter guidance for bookings, revenue, and EBITDA all came in above Street expectations, supporting their bullish outlook on the company.
Evercore ISI maintains Expedia as one of its "Top Picks" among large-cap internet stocks alongside Amazon and Netflix, noting that Expedia currently trades at 13x P/E, representing a 6-turn discount to Booking Holdings and a 12-turn discount to Airbnb.
In other recent news, Expedia Group reported strong financial results for the third quarter of 2025, surpassing both earnings and revenue forecasts. The company posted an adjusted earnings per share (EPS) of $7.57, exceeding the projected $6.98. Additionally, Expedia achieved a revenue of $4.41 billion, outpacing the expected $4.28 billion. These robust results have drawn attention from analysts, with Piper Sandler upgrading Expedia’s stock rating from Underweight to Neutral. Piper Sandler also raised its price target for the company to $250.00 from $190.00. The firm highlighted Expedia’s strong third-quarter results and positive fourth-quarter guidance as key reasons for the upgrade. Piper Sandler noted that bookings are accelerating and the company’s technology re-platforming efforts are enhancing operating leverage. These developments reflect a positive outlook for Expedia’s performance in the near term.
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