Posted 2/26/2024, 8:54:00 AM
Booking Holdings Price Target Upgraded to $3,950 on Q4 Earnings Beat and Market Share Growth Potential
- JMP Securities upgraded Booking Holdings' price target to $3,950 based on Q4 earnings beat and potential for further market share gains
- Booking saw higher direct bookings, improvements in marketing ROI, resilient leisure travel demand in Q4
- Company gaining momentum in alternative accommodations and connected trips, believed to be gaining market share
- JMP Securities believes Booking is well-positioned to endure industry shifts and take more market share
- $3,950 price target based on 15x estimated 2025 EBITDA multiple