JP Morgan Reduces Target Price on Booking Holdings (BKNG) to $5,600

Booking Holdings Inc. (NASDAQ:BKNG) is 1 of the 14 Best Consumer Discretionary Stocks to Buy Right Now.

On February 20, JPMorgan reduced its people terms connected Booking Holdings by 10.4% to $5,600 (from $6,250), portion maintaining its Overweight rating. This terms update comes aft Booking Holdings released its Q4 results, which the steadfast described arsenic “strong” and its outlook arsenic “encouraging”. It besides thinks that management’s guidance could person immoderate upside, fixed the company’s multi-year way grounds and further savings from its “Transformation Program”.

This probe update comes a mates of days aft Booking Holdings released its Q4 net study connected February 18, which showed accelerated net maturation crossed some GAAP and non-GAAP measures. GAAP nett income and GAAP net per stock grew 34% YoY (to $1.4 billion) and 38% YoY (to $44.22 per share), respectively. On non-GAAP metrics, adjusted EBITDA and adjusted net per stock grew 19% YoY (to $2.2 billion) and 17% YoY (to $48.80 per share), respectively.

The accelerated net maturation was driven by some gross maturation and nett borderline expansion. Revenue grew 16% YoY to $6.3 billion, arsenic much country nights were booked (9% YoY maturation to 285 million) astatine higher mean regular rates (6% YoY maturation to $151 per night). Net income margins, meanwhile, improved 300 ground points YoY to 22.5%, arsenic the company’s “Transformation Program” enabled ~$550 cardinal successful annualized run-rate savings.

Copyright: lightpoet / 123RF Stock Photo

Booking Holdings Inc. (NASDAQ:BKNG) provides online question and related solutions done its brands: Booking.com, Priceline, Agoda, KAYAK, and OpenTable. The institution is based successful Norwalk, Connecticut, and was founded successful July 1997 by Jay Scott Walker.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.