Expedia, Amazon: S&P Gainers
The S&P 500 rose 3.38 points, or 0.24%, to 1,403.36.
Shares of Expedia climbed 23.54% Friday to $40.31. JPMorgan analysts raised Expedia's rating to neutral from underweight after Expedia's strong first-quarter earnings on Thursday. The firm's price target is $37.
The Internet travel company reported first-quarter adjusted net income of $36.9 million, or 26 cents a share, up from year-earlier adjusted profit of $22.8 million, or 16 cents.
Analysts, on average, anticipated earnings of 15 cents a share.
Expedia shares hit a 52-week high Friday of $43. The stock's 52-week low of $22.44 was set on Oct. 4.
Expedia shares trade at an estimated price-to-earnings ratio for next year of 12.49X; the average for travel and tourism companies is 16.99X. For comparison, Priceline.com(PCLN) has a higher forward P/E of 19.41X.
Fifteen of the 28 analysts who cover Expedia rate it at hold. Twelve analysts give the stock a buy rating and one rate it at sell.