Bernstein Highlights Booking Holdings (BKNG) Strength as Revenue Set to Grow 10%

Booking Holdings Inc. (NASDAQ:BKNG) ranks among the best long-term stocks to buy according to D. E. Shaw. In light of Booking Holdings Inc. (NASDAQ:BKNG)’s impressive third-quarter performance, Bernstein maintained its Market Perform rating and $5,433 price target on the company’s shares on October 30. According to analyst Richard Clarke, the travel giant reported an 8% increase in room nights, 2.5% more than forecast and 2% higher than consensus projections.

The company’s adjusted EPS increased by 19%, while adjusted EBITDA rose by 15%, suggesting solid operational performance. Additionally, Booking Holdings Inc. (NASDAQ:BKNG) boosted its annual run-rate savings forecasts due to the performance of the Transformation Program.

Despite challenging European comparisons as well as tough macroeconomic environments in the United States, Booking Holdings Inc. (NASDAQ:BKNG) now projects a 10% revenue growth and high-teens EBITDA growth for the year.

Although Bernstein praised Booking’s excellent performance, the firm warned that the quarterly results might not completely resolve current discussions on AI’s potential impact on the company’s commission structure and business model.

Booking Holdings Inc. (NASDAQ:BKNG) provides online travel and related solutions, such as accommodation reservations. The company offers its services through various brands, including Booking.com, Priceline, Agoda, KAYAK, and OpenTable.

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Disclosure: None. This article is originally published at Insider Monkey.