Cantor Fitzgerald analyst Deepak Mathivanan lowered the firm’s price target on Booking Holdings (BKNG) to $5,590 from $5,660 and keeps a Neutral rating on the shares. Third quarter results for the online travel agency group are expected to be roughly in line or slightly above consensus on bookings and EBITDA, with travel demand remaining mixed but showing improvement in select markets like the U.S., the analyst tells investors in a research note. The firm expects Booking’s Q3 gross bookings and room nights to be above the high end of its prior guidance of 6% and 5.5%, respectively.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BKNG:
- Starboard Value Takes Aim at Tripadvisor: What Activist Pressure Could Mean for TRIP Stock
- Booking Holdings Updates By-Laws for Better Governance
- OpenAI’s ChatGPT Gets Cozy with Spotify, Zillow, Coursera, Other Apps – Their Stocks Love It
- Booking, Figma, Zillow among app partners highlighted at OpenAI DevDay
- Booking Holdings price target raised to $5,443 from $5,418 at Wells Fargo