What Wall Street tourism value rises 228% since the pandemic?

What Wall Street tourism value rises 228% since the pandemic?
What Wall Street tourism value rises 228% since the pandemic?

Booking is making its own month of August since the setback of the pandemic. Although its recovery has not been entirely regular, with its latest lows dating back to October 10, 2022 at $1,671.33 per share, the truth is that its improvement is proving spectacular. With increases from those levels of 130%.

Especially since March 2020, when its titles marked minimums of $1,177.43, figure from which the value recovers 228% to their current price levels. Levels that do not correspond either, despite the maximums that the indicators on Wall Street are now setting, for the last 52 weeks.

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February in particular marked its best levels of the year, on the 22nd of that month at $3,918 per title. However, the exercise is positive, although not spectacular. Their progress in one year reaches 45.5% but, so far in 2024, the increase in the share reaches 7.8%, with growth of 2.2% in the last month, 8.7% in the last quarter.

Factors like its continuous expansion plans, the effect of AI, Artificial Intelligence and good business results they do the rest. At the beginning of May it presented its business results, which exceeded Wall Street’s expectations.

Its CEO, Glen Fogel, put on the table that they expect a strong year in reservations with his first data: reservations of almost 300 million hotel nights through its platforms, which represents an increase of 9% compared to the figures of the previous year. Its revenues rose above $4.4 billion, up 17%while both its EBITDA, its adjusted net result and its net income showed significant increases.

The figures, especially in the US, are promising, but also in the rest of the world. His CEO pointed out that demand for leisure travel, in which they are global leaders, continues to show resilience, which anticipates good results for the high season this summer. In fact, the market expects a strong travel season ahead.

From Morgan Stanley, its analyst Michael Wilson considers that ““A third of consumers prioritize travel over other discretionary purchases and services,” with a survey carried out by the firm that indicates that 60% of consumers in the United States are already planning their summer vacations and almost half expect to spend even more than last year.

And the greatest improvement effect for the market comes above all from the potential before AI, which companies consider the central axis of their future growth.

But it also has a negative side, which, for the moment, at least in public, the Booking managers do not weigh, which they at least avoided in their last presentation of results. We are talking about the abuse of competition in Europe. In fact, hehe European Union has just included the company in the list of ‘basic service platforms’, under the law that tries to prevent large technology platforms from dominating online markets.

At the moment the inclusion It only concerns Booking.com but leaves out other company websites, such as Cheapflights, Kayak.com and Priceline, as well as the restaurant reservation platform OpenTable.

All this after, in Spain, during the month of February, the CNMC, the National Markets and Competition Commission, iimposed a fine on Booking worth 486 million euros for abuse of dominant position regarding the intermediation services that it offers as an online travel agency to hotels. The reported practices would consist of the imposition of inequitable conditions on hotels located in Spain and the implementation of commercial policies that could have had exclusionary effects on other online travel agencies, as well as on other online sales channels.

In October 2022, the CNMC initiated a sanctioning file against the portal for possible abuse of its dominant position following complaints from the Spanish Association of Hotel Directors and the Madrid Hotel Business Association.

Despite everything, the recommendations continue to improve the potential of the value. The average collected by the Reuters consensus places Booking’s PO at $4,036.37 per sharewith little potential of 5.6% from its current price levels and purchase recommendation.

As for the individual ones, from B. Riley Secuties advises purchase with an OP of $4,400 and a possible upward trend for the value of 15.11%, to which Seaport Global is added, which advises buying the value with a target price of $4,340 and potential of 13.5%.

For Argus, value is a purchase, with Susquehanna betting positively on Booking, with a PO of $4,100 per share and a possible improvement in value that exceeds 7%.

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