Shares of online travel company Expedia Group (NASDAQ:EXPE) are down nearly 14% at the time of writing today after its second-quarter revenue at $3.36 billion came in lower than expectations by $10 million. EPS at $2.89 though outperformed estimates by $0.54.
The company is witnessing strong travel demand with lodging gross bookings remaining at record levels at $19.2 billion during the quarter. Additionally, while B2B revenue rose 32% year-over-year, Expedia also witnessed a margin expansion of 1,730 basis points with a net income of $385 million (as compared to a net loss of $185 million in the year-ago period).
Despite this performance, shares of the company are now down nearly 3% over the past year while short interest in the stock is now inching toward 4.2%. Earlier this week, Oppenheimer’s Jed Kelly reiterated a Buy rating on the stock while increasing the price target to $135 from $120.
Overall, the Street has a $128.23 consensus price target on Expedia alongside a Moderate Buy consensus rating.
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