Expedia Hits Five-Month Low After Booking Miss, Guidance Cut

Expedia Group Inc. shares hit their lowest level since November after the company posted disappointing first-quarter bookings and lowered its full-year guidance. The online travel giant blamed a slower-than-expected recovery in its vacation rental business.

The shares fell as much as 14% to $116.50 in New York on Friday. Piper Sandler analysts cut their rating for the stock to neutral from overweight as they wrote that “bookings growth is deteriorating” while increases in margins from tech improvements “remain elusive.”