Booking Holdings

BKNG · NASDAQ

$163.92+$1.32 (+0.81%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $162.60

BKNG analyst rating

BuyConsensus of 33 analysts over the last 12 months. 82% rate it a buy.

Strong buy1
Buy26
Hold6
Underperform0
Sell0

12-month price target · 41 analysts

Average $242.03 (+47.6% upside)

Low: $189.88
Now: $163.92
High: $316.05

Upgrades and downgrades

The latest rating actions, newest first

BKNG analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Cantor Fitzgerald	Oct 12, 2026	Maintains	Neutral	$220.00 → $170.00	63%
Wells Fargo	Oct 7, 2026	Maintains	Equal-Weight	$220.00 → $190.00	55%
Truist Securities	Sep 30, 2026	Maintains	Buy	$242.00 → $216.00	47%
BTIG	Sep 24, 2026	Maintains	Buy	$250.00	39%
Morgan Stanley	Sep 16, 2026	Initiates	Overweight	$230.00	52%
Rosenblatt	Sep 1, 2026	Initiates	Buy	$245.00	62%
BTIG	Aug 27, 2026	Maintains	Buy	$250.00	39%
Evercore ISI Group	Aug 24, 2026	Maintains	Outperform	$245.00 → $270.00	60%
Argus Research	Aug 10, 2026	Maintains	Buy	$210.00 → $245.00	55%
UBS	Aug 5, 2026	Maintains	Buy	$266.00 → $274.00	59%

The case for and against

Updated Oct 14, 2026

Bull case

Booking Holdings is viewed favorably because it is the #1 global OTA, with unmatched scale across Booking.com, Agoda, Priceline, KAYAK, and OpenTable, and it continues to benefit from the secular shift of travel bookings online. Its business model is highly attractive, supported by mid-30s EBITDA margins, ~90% FCF conversion, more than $1B of net cash, and 2025 gross bookings of $186B across 1.2B room nights, while share gains in the US, APAC, and alternative accommodations should sustain high-single-digit topline growth. Confidence is further reinforced by Connected Trip, loyalty-driven direct traffic in the mid-60% range, and capital returns, which together underpin durable mid-teens EPS growth and make valuation look compelling versus peers.

Bear case

Booking Holdings is vulnerable because its core OTA model depends on disintermediated travel discovery, and AI-driven agentic commerce could shift consumers away from Google-reliant funnels before Booking’s partnerships can offset the traffic loss. Its business remains heavily concentrated in accommodations at about 90% of revenue, while expansion into air and other lower-margin categories risks pressuring take rates and margins, and fixed costs were still $5.2B in 2025. Although it has generated scale and returned $33B from 2020-2025, the stock’s valuation looks less compelling given cyclical travel demand, elevated marketing spend, FX volatility, and EU DSA/DMA regulatory overhangs.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.