- Shares of Booking Holdings Inc (NASDAQ:BKNG) have received a price target increase from $2,100 to $3,000 by Susquehanna. These are the details.
Shares of Booking Holdings Inc (NASDAQ:BKNG) have received a price target increase from $2,100 to $3,000 by Susquehanna. And Susquehanna analyst Shyam Patil is maintaining a “Positive” rating on the company shares.
Patil noted that he expects a slow and bumpy recovery, but believes the company is well-positioned for the long-term. And Booking Holdings had recently reported better-than-expected results due to sequential improvements in unit growth.
Booking Holdings’ total revenues for the fourth quarter of 2020 were $1.2 billion, a 63% decrease from the prior year on both an as-reported and constant-currency basis. And the Company reported a net loss in the fourth quarter of 2020 of $165 million, compared with net income of $1.2 billion in the Q4 2019. The fourth quarters of 2020 and 2019 include net unrealized gains on marketable equity securities of $553 million and $326 million, respectively.
The net loss in the Q4 2020 was $4.02 per diluted share, compared with net income per diluted share of $27.75 in the fourth quarter of 2019. And non-GAAP net loss in the Q4 2020 was $23 million, compared with non-GAAP net income in the fourth quarter of 2019 of $984 million. The non-GAAP net loss in the Q4 2020 was $0.57 per diluted share, compared with non-GAAP net income of $23.30 per diluted share in the fourth quarter of 2019.
For the full-year 2020, Booking Holdings had reported gross travel bookings of $35.4 billion, a 63% decrease compared to 2019 on both an as-reported and constant-currency basis. And Booking Holdings’ total revenues in 2020 were $6.8 billion, a 55% decrease from the prior year on both an as-reported and constant-currency basis.
The net income for the full-year 2020 was $59 million, a 99% decrease versus the prior year. And net income for the full-years 2020 and 2019 includes gains of $1.8 billion and $745 million, respectively, on marketable equity securities. The net income for the full-year 2020 also includes a $1.1 billion impairment charge related to OpenTable and KAYAK goodwill. Net income for the full-year 2020 was $1.44 per diluted share, a 99% decrease compared to the prior year.
The non-GAAP net income for the full-year 2020 was $194 million, a 96% decrease compared to the prior year. And non-GAAP net income was $4.71 per diluted share, a 95% decrease as compared to the prior year. And adjusted EBITDA for 2020 was $879 million, an 85% decrease as compared to the prior year. Plus the adjusted EBITDA for the Q4 2020 was a loss of $38 million, compared with adjusted EBITDA of $1.3 billion in Q4 2019.
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