Booking Holdings Inc.
In the published model solve dated 2026-Q2, anchored at $205.82, Booking Holdings Inc. (BKNG) is priced for +15.0% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Two thirds of revenue now arrives through the merchant channel, where Booking collects the traveler's money itself instead of billing the hotel a commission after checkout, which makes this a payments business wearing a travel-search interface. • The sharpest threat is that the search step vanishes: the FY2025 10-K warns that ⟦technology platforms and AI-native competitors are developing Gen AI-powered assistants and agents that can search, compare, recommend, and facilitate travel and dining
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1,852 institutional managers reported holding BKNG in 13F filings for the quarter ended 2026-03-31. Together they hold about 5% of the company; the top 10 hold 2%. 125 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 25.3M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (3.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
BKNG has cut its share count 23% over the past five years, spending $34.12B on repurchases. It pays a dividend, and has for 2 years running; the current rate is $9.60 a share annually. Cash returned over the past three years: $2.77B in dividends and $22.16B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at BKNG over the trailing three years. Absence is a fact about the company, not a signal. 16 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
BKNG's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | +6.2% | -0.5% |
| 2023-11-03 | +3.3% | +19.2% |
| 2024-02-23 | -6.3% | +0.4% |
| 2024-05-03 | +4.7% | +9.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
BKNG's latest 8-K filings: 2026-08-04 (items 2.02, 9.01); 2026-06-02 (items 5.07, 9.01); 2026-05-11 (items 1.01, 2.03, 8.01, 9.01); 2026-05-07 (items 1.01, 2.03, 8.01, 9.01); 2026-04-28 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.