Booking Holdings (BKNG) PT Raised to $4,680 at Goldman Sachs

Goldman Sachs analyst Eric Sheridan raised the price target on Booking Holdings (NASDAQ: BKNG) to $4,680.00 (from $4,520.00) while maintaining a Neutral rating.

The analyst comments "In its Q1’25 earnings report, BKNG mgmt emphasized a number of key themes: 1) Overall a broadly solid/stable travel environment in terms of Q1 bookings/nights performance & forward commentary albeit with some commentary of different travel behaviors emerging across cross-border travel and different booking habits by budget and inventory quality; 2) Continued focus on driving fixed cost leverage into operating performance and a focus on continuing to evolve marketing spend toward direct traffic, social media channels and optimizing legacy paid performance channels; 3) Focused on driving deeper AI integration, both as a platform with outside partners and utilizing AI to drive personalization and customization on property for users; & 4) View that if the macroeconomic environment were to soften that they stood ready to make investments and adjust strategic focus to demonstrate historical precedent of taking share and improving competitive position into and out of such shifts in end market demand. Over the coming quarters, it is likely that the debates around the company and stock will remain focused on any rate of changes in end demand environment and competitive intensity. We reiterate our Neutral rating & adjust our 12-month PT from $4,520 to $4,680."

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