Booking Holdings (BKNG) announced that Booking.com deepened its partnership with corporate travel platform Navan, integrating its lodging supply directly into corporate booking workflows. Following this, Jefferies adjusted its price target to $5,600 (down from $5,800) while maintaining a Hold rating.
- The strategic move aims to enhance BKNG's relevance in managed travel, emphasizing compliance and cost control alongside competitive pricing.
- Analysts project strong upcoming earnings, expecting EPS of $48.6 (an increase of 16.97% year-over-year) and revenue of $6.12 billion.
- BKNG closed the session down 1.02% at $5,098.50, trading slightly lower in after-hours.