Expedia (EXPE Quick QuoteEXPE - Free Report) shares soared 9.1% in the last trading session to close at $177.27. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.2% loss over the past four weeks.

Expedia Group extended its rally, driven by solid demand in domestic travel and improving travel trends in many parts of the world. Further, the removal of travel restrictions in many parts of the world as well as many countries opening for international travelers remain major tailwinds. Additionally, Expedia’s strengthening global lodging portfolio and strong supply acquisition efforts continue to drive its prospects.

This online travel company is expected to post quarterly earnings of $0.58 per share in its upcoming report, which represents a year-over-year change of +122%. Revenues are expected to be $2.36 billion, up 156.1% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Expedia, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EXPE going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>