Piper Jaffray Finds Expedia Meeting Expectations (EXPE)

According to Piper Jaffray, Expedia EXPE will report Q4 earnings today after the market close which should be in-line with its expectations. The report notes, “We expect an in line quarter, with bookings deceleration in line with street expectations. Beyond Q4, we expect the company will talk about low-mid teens OIBA growth in FY11. Given what we see as a reasonable outlook for mid to high single digit domestic bookings and ~20% international bookings growth in FY11and FY12, we don't anticipate large earnings estimate revisions following the December quarter report; our estimates are slightly below the Street.” Piper Jaffray maintained its Neutral rating and Price Target of $28. Expedia is trading virtually unchanged in the premarket from yesterday's close at $25.43.