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Shares of Expedia (EXPE) - Get Free Report cratered Thursday after the online travel company was tripped up by quarterly numbers that fell short of analysts' expectations.

Expedia's stock price plunged 24.01% to $102.74 a share in premarket trading after the travel giant missed the mark on earnings and revenue for the quarter ended Sept. 30.

Expedia reported earnings of $3.38 a share, well below the $3.82-a-share estimate of analysts surveyed by Zacks Investment Research, for a negative earnings surprise of 11.52%.

It also fell wide of the $3.79-a-share estimate of analysts tallied by FactSet, and was below the $3.65 a share in earnings that Expedia reported during the same period last year.

The earnings fizzle, in turn, prompted a pair of industry analysts to lower their ratings on Expedia's stock.

Piper Jaffray's Michael Olson knocked his rating on Expedia to neutral from overweight while slashing his price target dramatically to $124 a share, down from $160.

Analyst Tom White of D.A. Davidson also reduced his rating on Expedia to neutral while cutting his price target to $130 a share, down from $162. 

Expedia is struggling to lessen its reliance on search engines like Google, which could boost its costs as it is forced to work through higher-cost marketing and advertising channels, the analysts noted.

Expedia's revenue for the quarter also fell short, ringing in at $3.56 billion and missing by 0.55% the estimate of analysts polled by Zacks, though it beat the $3.28 billion the company reported during the same quarter in 2018.

Expedia also saw a big drop in operating income, which fell 9% to $609 million, down from $672 million during the same quarter in 2018.

The pace of hotel bookings also slowed, rising 11% in the quarter from 13% a year before, the company said.