2024-06-03 10:11:45 ET
Summary
- Booking Holdings is trading at an expensive ~21x P/E ratio, which is double that of its competitor Expedia.
- Meanwhile, the company's bookings are also slowing, pinpointing a potentially weaker summer travel season.
- Booking's lack of a unified loyalty program and its lack of a cash-back rewards system like Expedia's One Key may cause it to lose share in the long run.
As the stock market continues to showcase resilience at all-time highs, I've continued to caution against incredibly high valuations and am correspondingly taking safety measures in my own portfolio to protect from a broad downside move....
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Booking Holdings: Expensive Amid Decelerating Bookings (Rating Downgrade)