BTIG Mixed on Booking Holdings (BKNG), 'We see gross reservation volume moderating from April'

BTIG analyst Jake Fuller reiterated a Neutral rating on Booking Holdings (NASDAQ: BKNG).

The analyst comments "With BKNG flirting with $4K and an all-time high as broader fears around the consumer appear to be easing, we zoom in to consider 2Q prospects and our initial thoughts on 3Q. Highlights: 1) We see gross reservation volume moderating from April (benefited from Easter timing) into May and June, but BKNG does look to be on track to top a modest guide; 2) Our analysis of QTD trends points us to 2Q room night growth of ~7% vs. a 4-6% guide, which would be roughly in-line with BKNG's average historical beat; 3) While the 3Q y/y comp appears difficult at +15%, running a typical seasonal pattern would point us towards y/y growth of 7-9% (+7% consensus)."

For an analyst ratings summary and ratings history on Booking Holdings click here. For more ratings news on Booking Holdings click here.

Shares of Booking Holdings closed at $3982.38 yesterday.

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