What's Going On With Booking Holdings Stock After Earnings?
Portfolio Pulse from Erica Kollmann
Booking Holdings, Inc. (NASDAQ:BKNG) reported Q4 earnings of $32.00 per share, surpassing estimates and marking a 29.35% increase from the previous year. Sales reached $4.78 billion, also beating estimates with an 18.15% year-over-year growth. The company initiated a quarterly dividend of $8.75 per share. Analysts from RBC Capital and Wedbush maintained an Outperform rating, with raised price targets. Despite positive results and outlook, BKNG shares dropped 9.58% to $3,528.30.
February 23, 2024 | 5:34 pm
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Booking Holdings reported strong Q4 earnings and sales growth, initiated a dividend, and received positive analyst ratings, yet shares fell 9.58%.
Despite Booking Holdings' positive earnings report and the initiation of a dividend, the stock price dropped significantly. This could be due to market reactions to broader economic concerns or profit-taking after the announcement. Analysts remain positive, suggesting confidence in the company's long-term prospects.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100