Shares of Booking Holdings Inc (NASDAQ:BKNG) remained under pressure after the company reported first-quarter results.

Here are the key analyst insights:

  • DA Davidson analyst Tom White maintained a Buy rating, while cutting the price target from $240 to $230.
  • BTIG analyst Jake Fuller reiterated a Buy rating and price target of $250.

Check out other analyst stock ratings.

DA Davidson: Booking reported "generally solid" results, White said in a note. That’s despite the impact of the war in Iran toward the end of the quarter. The company managed to post adjusted EBITDA and earnings ahead of expectations.

However, room nights and gross bookings were lower than its guidance.

Management's guidance for the second quarter implies that "the direct and indirect headwinds related to the conflict persist through the end of June," while their updated full-year expectations reflect "a recovery in related bookings activity starting in July," the analyst wrote.

While the company lowered its full-year guidance range for gross bookings and earnings growth, it reiterated the high end of the outlook ranges for both, he further stated.

BTIG: Booking did not report a beat in room nights, which has been typically the case for the company. The Middle East disruption caused a drag of around 2 percentage points, Fuller said. Beyond this, room night trends remained strong, especially in the U.S. Europe and Asia-Pacific experienced stable growth, he added.

Investors had expected the company to provide conservative guidance for the second quarter, given the difficult geopolitical backdrop and weakening third-party data trends, but management's room night growth outlook came in much worse, at only 2%-4%, the analyst stated.

While the updated 2026 guidance reflects a rebound in room-night growth in the back half of the year, this could be at risk if the Middle East conflict extends through year-end, he added.

BKNG Price Action: Shares of Booking Holdings had risen by 0.01% to $173.34 at the time of publication on Wednesday.

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