BKNG

Booking Holdings Inc

TMT, Consumer


Presented:03/03/2023
Price:$2,620.40
Cap:$101.64B
Current Price:$4,307.77
Cap:$144.42B

Presented

Date03/03/2023
Price$2,620.40
Market Cap$101.64B
Ent Value$78.80B
P/E Ratio33.65x
Book Value$73.48
Div Yield0%
Shares O/S38.79M
Ave Daily Vol319,961
Short Int1.43%

Current

Price$4,307.77
Market Cap$144.42B
Booking Holdings, Inc. engages in the provision of online travel and related solutions. The company offers services through the following brands: Booking.com, KAYAK, Priceline, Agoda, Rentalcars.com, and OpenTable. It provides accommodation reservations including hotels, hostels, apartments, vacation rentals, and other properties. The company was founded by Jay Scott Walker on July 18, 1997, and is headquartered in Norwalk, CT.

Publicly traded companies mentioned herein: Booking Holding Inc. (BKNG), Expedia Group Inc. (EXPE), Google Inc. (GOOG)

Highlights

The presenter is long shares of Booking.com (BKNG), which he calls a consensus pitch, but feels strongly the upside is still attractive in 2023. In his view, BKNG shares still have upside as room nights are just getting back to 2019 levels with the fourth quarter's room night growth up 10% compared to 2019. Another significant step in BKNG’s recovery came when, for the first time, room nights in 4 of their key areas exceeded 2019 levels for the quarter. The patterns for room night increases have become even more pronounced in 2023, with January room nights rising 26% from 2019 or almost 60% YoY. He thinks that management can hit their low-teens booking guidance for 2023, even with European room nights pricing not fully recovering. His due diligence suggests that this business can grow bookings around 10% annually long-term.

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Idea Discussion

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