Booking Holdings Issues Soft Guidance Despite Strong Q1 Upside; These Analysts Delve Deeper
Portfolio Pulse from Priya Nigam
Booking Holdings Inc (NASDAQ:BKNG) reported strong Q1 results, surpassing guidance and consensus, but issued a softer outlook for Q2 while reaffirming its 2024 guidance. Analysts from JPMorgan, BMO Capital Markets, DA Davidson, Mizuho Securities, Oppenheimer, Wedbush, Piper Sandler, and Benchmark provided updates, with most maintaining positive ratings and adjusting price targets upwards. The company's performance was driven by resilient demand, especially in the Asia-Pacific region and the alternative accommodation market in the US. However, concerns were raised about geopolitical headwinds and a less expansive booking window year-over-year.
May 03, 2024 | 4:34 pm
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Booking Holdings Inc reported strong Q1 results but provided a softer outlook for Q2, reaffirming its 2024 guidance. Analysts remain positive, adjusting their price targets upwards despite concerns over geopolitical headwinds.
The strong Q1 performance and positive analyst ratings, despite a softer Q2 outlook, suggest a generally optimistic short-term impact on BKNG's stock price. The reaffirmation of the 2024 guidance and the adjustments in price targets by analysts reflect confidence in the company's long-term prospects, potentially offsetting short-term concerns.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100