Expedia, Tripadvisor cut to Sell as Wolfe Research takes bearish view on travel stocks [Seeking Alpha]
Booking Holdings Inc. (BKNG)
Last booking holdings inc. earnings: 2/26 04:04 pm
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Source: Seeking Alpha
Expedia, Tripadvisor cut to Sell as Wolfe Research takes bearish view on travel stocksDec. 07, 2022 7:49 AM ETExpedia Group, Inc. (EXPE)TRIPBKNGABNBBy:Kevin P. CurranSA News Editorchameleonseye/iStock Editorial via Getty ImagesThe online travel sector should be avoided by investors heading into 2023, according to Wolfe Research.In a note to clients on Wednesday the firm dimmed its view of the overall sector to Underweightfrom a prior Market Weight due to an expected downturn in demand. As such, Expedia (NASDAQ:), Tripadvisor () were downgraded from Hold to Sell-equivalent ratings and Booking Holdings () was cut from Buy to Hold.â??Travel demand is likely to moderate amidst a macroeconomic slowdown in 2023 and consensus does not appear to reflect the magnitude accurately,â? the firmâ??s analysts told clients. â??Many online travel companies have ventured into less efficient customer acquisition channels over the last 12 to 18 months and have seen unit economics erode versus 2019.â?Th
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BKNG
Earnings
- 2/22/24 - Beat
BKNG
Sec Filings
- 4/23/24 - Form ARS
- 4/23/24 - Form DEF
- 4/23/24 - Form DEFA14A
- BKNG's page on the SEC website