New York, February 6, 2026, 18:49 EST — After the bell
- Booking Holdings shares finished the session with a modest gain, but ticked down after the bell.
- Wall Street analysts are divided on one thing: is generative AI a lasting risk for online travel agencies, or not?
- Eyes now turn to Booking, with investors waiting for the company’s upcoming earnings and guidance update set for later this month.
Booking Holdings Inc stock barely budged in after-hours action Friday, holding around $4,452. The Booking.com parent had closed out regular trading with a 0.3% gain at $4,457.17. 1
Online travel stocks have had a tough run lately, with investors wrestling to gauge the impact of chat-style search tools on trip planning and booking. That uncertainty left the market little changed by the close.
This is crucial for travel platforms, which rely on paid traffic and return guests. When the route from “where should I go?” to a booked room tightens up, suddenly there’s a real question about pricing power—and marketing efficiency doesn’t get a free pass, either.
Citizens analysts Matthew Condon and Andrew Boone downgraded Booking to “market perform,” flagging concerns that AI “has the potential to collapse the traditional travel funnel into a single, conversational interface.” 2
Mizuho didn’t see it the same way. Analyst Lloyd Walmsley bumped Booking up to Outperform from Neutral, sticking with a $6,000 target. He called the risk-reward “a compelling 2.7x bull/bear skew” at these prices. 3
Booking shares slid 3.55% to $4,443.42 on Thursday, lagging rivals Expedia, Trip.com, and Tripadvisor as stocks broadly declined, according to MarketWatch data. 4
OTAs—online travel agencies—operate as middlemen, connecting travelers with hotels, airlines, and countless other suppliers. What keeps their business ticking? Traffic, and the slice they pocket from every booking, a margin insiders call the “take rate.”
The risk remains straightforward: if AI discovery steers travelers to book straight with hotels or airlines, intermediaries stand to lose clout. Should demand weaken, that squeeze could hit pricing and marketing budgets even sooner.
Booking, the company behind Booking.com, Priceline, Agoda, Kayak, and OpenTable, plans to release its fourth-quarter and full-year 2025 results on Feb. 18. The conference call is set for 4:30 p.m. ET, according to a PR Newswire statement.
With Monday’s session coming up, eyes are on travel demand signals and whether analysts shift their views. All of this points to Booking’s results call on Feb. 18 as the next key date.
