NEW YORK (TheStreet) - Expedia and Amazon were among the best-performing stocks in the S&P 500 on Friday. 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 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.
TheStreet Ratings gives Expedia a C+ grade and hold rating. The stock has risen 38.9% year to date.
Amazon shares increased 15.75% to $226.85. The company's first-quarter earnings blew past analysts' expectations on Thursday.
Amazon reported first-quarter earnings of 28 cents per share on $13.2 billion in revenue in part based on growth in Kindle Fire sales. Analysts, on average, expected earnings of 7 cents a share on $12.9 billion in revenue.
Amazon shares trade at a forward P/E of 57.14X; the average for broad-line retailers is 19.93X.
Twenty-seven of the 42 analysts who cover Amazon rate it at buy. Fourteen analysts give the stock a hold rating and one rates it at sell.
TheStreet Ratings gives Amazon a C+ grade and a hold rating. The stock has risen 31.05% year to date.
--Written by Alexandra Zendrian in New York.
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