SunTrust Robinson analyst Naved Khan maintained a Buy rating on Booking Holdings Inc (BKNG) today and set a price target of $2400. The company’s shares opened today at $1795.67.
Khan commented:
“We find the risk/reward on BKNG attractive, with our analysis of the potential upside from positives (faster growing direct traffic, easing RNG comps, rising brand awareness, tempered margin expectations) outweighing the negatives (China, FX). Room Night growth (RNG) Should Remain Healthy, benefiting from anniversary of the meta-search cuts and return to normalized growth. We note that RNG saw a nice improvement in 3Q, benefiting from a partial anniversary of cuts made to performance channels (particularly meta-search). We believe room night growth in 4Q and coming quarters should remain healthy, with favorable comps in 1H19 helping.”
According to TipRanks.com, Khan is a 5-star analyst with an average return of 18.1% and a 69.6% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, Wix.com Ltd, and Yext Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Booking Holdings Inc with a $2164.76 average price target, which is a 20.6% upside from current levels. In a report issued on January 15, Barclays also maintained a Buy rating on the stock with a $2270 price target.
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Based on Booking Holdings Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $1.77 billion. In comparison, last year the company had a GAAP net loss of $555 million.
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Booking Holdings, Inc. is an online travel company, which provides travel and related services. It offers accommodation reservations including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties. The company provides services through Booking.com, priceline.com, agoda.com, KAYAK, rentalcars.com and OpenTable brands.
