Expedia Expected To Gain Market Share In Travel Recovery

Expedia, Inc. EXPE is expected to continue gaining market share through worldwide travel recovery via discounted prices, advertising that allowed its Advertising and Media revenue to grow 39% y/y, according to Benchmark. Expedia reported 10% y/y increase in transaction volume in its 2Q, and total gross bookings of $6.7B, over Benchmark's estimate of $6.6B. Domestic and international bookings are up 15% and 28%, respectively. Benchmark lists Expedia with a "buy" rating, price target at $31, and its sector rating as "overweight". Expedia, Inc. closed yesterday at $21.07.