Booking Holdings Sees 50.5% Upside as Q4 Revenue Beats by 16%
Morgan Stanley upgraded Booking Holdings to Overweight while trimming its price target to $5,500, and Citigroup maintained a Buy rating with a $6,250 target. The travel operator reported Q4 revenue of $6.35 billion, up 16% year-over-year, and adjusted EPS of $48.80, beating estimates and underpinning a 50.5% upside projection.
1. Analyst Ratings and Price Targets
Morgan Stanley upgraded Booking Holdings to Overweight from Equal Weight and cut its price target to $5,500 from $6,150. Citigroup trimmed its target to $6,250 from $6,500 while reaffirming a Buy rating, reflecting confidence in the company’s travel positioning.
2. Q4 Financial Performance
For the quarter ended December 31, Booking Holdings reported revenue of $6.35 billion, up 16% year-over-year versus estimates of $6.13 billion, and recorded a 9% increase in room nights. Adjusted EPS reached $48.80, surpassing consensus by $0.33 and driven by strong international travel demand.
3. Upside Potential and Outlook
The stock ranks among the top 10 Magic Formula picks for 2026 with a Strong Buy designation and an average upside potential of 50.5%. Analysts highlight the company’s customer retention and use of passenger data to expand direct-booking revenue streams.