Expedia price target raised to $245 from $225 at Piper Sandler

Piper Sandler raised the firm’s price target on Expedia (EXPE) to $245 from $225 and keeps a Neutral rating on the shares. The firm notes the company’s Q1 results beat its estimates and Q2 guidance came in ahead of its prior expectations. With that said, the company left FY26 guidance unchanged, in what Piper thinks is in an effort to be conservative. Macro headwinds from Mexico travel advisories and the Middle East conflict cost approximately two points of bookings and room night growth in March, though cancellations normalized in April. Shares traded down 8% after hours which looks like an overreaction to the firm.