{"id":19920,"date":"2023-06-08T08:58:55","date_gmt":"2023-06-08T12:58:55","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/booking-holdings-stock-up-30-over-last-six-months-whats-next\/"},"modified":"2023-06-08T08:58:57","modified_gmt":"2023-06-08T12:58:57","slug":"booking-holdings-stock-up-30-over-last-six-months-whats-next","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=19920","title":{"rendered":"Booking Holdings Stock Up 30% Over Last Six Months. What\u2019s Next?"},"content":{"rendered":"
\n

After a 30% growth over the last six months, at the current price of around $2671 per share, we believe Booking Holdings (NASDAQ: BKNG), the world\u2019s largest online travel agency that offers services from lodging to airline tickets to car rentals – is fairly priced in the near term. BKNG stock has increased from around $2042 to $2671 in the last six months, outperforming the broader indices, with the S&P growing about 8% over the same period. Booking Holdings has fully recovered from the difficult period caused by the pandemic in terms of revenues. However, its operating income of $450 million in Q1 2023 is still below pre-pandemic values ($556 million in 2019), although it improved compared to Q1 2022. In Q1 2023, the Board of Directors authorized a share repurchase program of about $20 billion which shows that there is the potential to increase EPS in the coming quarters.<\/p>\n

The online travel agency\u2019s revenues grew 40% year-over-year (y-o-y) to $3.8 billion, driven by a 44% y-o-y increase in gross bookings to $39 billion. Room nights booked increased 38% from the prior-year quarter, rental car days were up 23% y-o-y, and airline tickets booked jumped 73% y-o-y in Q1. Further, BKNG\u2019s adjusted EBITDA was up 89% y-o-y to $586 million but came in below the consensus estimate of $627 million. Also, its earnings per share came in at $7.00 compared to a loss of $17.10 in Q1 2022. Last year in 2022, Q1 was severely impacted by the Omicron Covid-19 variant and Q2 2022 saw a strong rebound from Omicron-impacted Q1 2022.<\/p>\n

Going forward, BKNG expects Q2 2023 room night growth to be up mid-single digits y-o-y. In addition, BKNG\u2019s fixed expenses in Q2 will grow about 25% y-o-y due to higher personnel and related expenses, indirect taxes, and IT expense. For the full-year 2023, the company expects its adjusted EBITDA margin to expand by a couple of percentage points versus 2022.<\/p>\n

We forecast Booking Holdings\u2019 revenues to be $20.6 billion for the fiscal year 2023, up 21% y-o-y. Looking at the bottom line, we now forecast EPS at $138.17. Given the changes to our revenues and earnings forecast, we have revised our Booking Holdings\u2019 Valuation to about $2722 per share, based on $138.17 expected EPS and a 19.7x P\/E multiple for the fiscal year 2023 – almost in line with the current market price.<\/p>\n

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It is also helpful to see how its peers stack up. Check out how Booking Holdings\u2019 Peers<\/strong> fare on metrics that matter. You will find other valuable comparisons for companies across industries at Peer Comparisons.<\/p>\n

What if you\u2019re looking for a more balanced portfolio instead? Here\u2019s a high-quality portfolio that\u2019s beaten the market consistently since 2016.<\/p>\n

Invest with Trefis <\/strong>Market Beating Portfolios<\/strong><\/p>\n

See all Trefis <\/strong>Price Estimates<\/strong><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

After a 30% growth over the last six months, at the current price of around $2671 per share, we believe Booking Holdings (NASDAQ: BKNG), the world\u2019s largest online travel agency that offers services from lodging to airline tickets to car rentals – is fairly priced in the near term. BKNG stock has increased from around […]<\/p>\n","protected":false},"author":1,"featured_media":19921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-19920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"\nBooking Holdings Stock Up 30% Over Last Six Months. 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