Booking Holdings Shares Up 3% Following Strong Q1 Beat, Record Gross Travel Bookings
<p><a href='https://financialmodelingprep.com/financial-summary/BKNG'>Booking Holdings Inc. (NASDAQ:BKNG)</a> shares closed more than 3% higher on Thursday following the company’s reported Q1 results, with record gross travel bookings of $27.3 billion, up 129% year-over-year. Quarterly EPS was $3.90, significantly better than the consensus estimate of $0.90. Revenue came in at $2.7 billion, beating the consensus estimate of $2.54 billion.</p>
<p>Alongside strong bookings, revenue and EPS beat, the quarterly results and April performance indicate likely share gains globally as well as in the U.S.</p>
<p>Analysts at RBC Capital estimate the company grew bookings 700-800 bps faster than Expedia Group's lodging bookings while thinking the gap expanded more meaningfully in April when the company grew bookings by over 30% compared to Expedia. </p>
<p>According to the analyst, Europe cross-border has clearly been coming back, however, Asia remains down high-teens in April suggesting there's more cross-border strength yet to be unlocked in the event that COVID complies.</p>
<p>The analysts increased their price target on the company’s shares to $2,800 from $2,700, while reiterating their outperform rating.</p>

NASDAQ:BKNG