Booking Holdings Issues Soft Guidance Despite Strong Q1 Upside; These Analysts Delve Deeper
Shares of Booking Holdings Inc (NASDAQ:BKNG), the parent company of Booking.com, were climbing in early trading on Friday, along with other big stocks reporting earnings for the quarter.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
- JPMorgan analyst Doug Anmuth Huang maintained an Overweight rating, while raising the price target from $3,950 to $4,025.
- BMO Capital Markets analyst Brian Pitz reaffirmed an Outperform rating, while lifting the price target from $4,150 to $4,205.
- DA Davidson analyst Tom White reiterated a Buy rating, while raising the price target from $4,100 to $4,150.
- Mizuho Securities analyst James Lee maintained a Buy rating and price target of $4,250.
- Oppenheimer analyst Jed Kelly reaffirmed an Outperform rating and price target of $4,200.
- Wedbush analyst Scott Devitt maintained an Outperform rating and price target of $3,850.
- Piper Sandler analyst Thomas Champion reiterated a Neutral rating and price target of $3,600.
- Benchmark analyst Daniel Kurnos reaffirmed a Hold rating on the stock.
Check out other analyst stock ratings.
JPMorgan: Booking Holdings reported strong results for the first quarter, beating the guidance and consensus, “but provided a softer 2Q outlook while reaffirming the 2024 guide,” Anmuth said in a note.
“Mgmt continues to see resiliency in demand as it heads toward peak summer travel, & comps get easier in the back half, which makes us think the full-year outlook is conservative,” the analyst wrote.
BMO Capital Markets: Connected transactions grew by 50% in the first quarter and represented a high single-digit percentage of overall transactions, Pitz said.
Asia-Pacific is growing faster than other regions, “while Booking will lean further into the US alternative accommodation market this year,” the analyst …
Full story available on Benzinga.com