New York, February 3, 2026, 19:39 EST — Trading after hours
- BKNG dropped 9.3% by the close but nudged up a bit in after-hours trading.
- Booking revealed that Steve Hafner, Kayak’s co-founder, is stepping down as CEO. He’ll be replaced by Peer Bueller.
- UBS lowered its price target on Booking’s stock ahead of the company’s upcoming earnings report.
Booking Holdings’ common stock (BKNG) slid 9.32% to $4,644.64 in Tuesday’s regular session, then ticked up 0.57% to $4,671.02 after hours.
This drop matters ahead of Booking’s Q4 and full-year earnings due on Feb. 18. Investors are zeroed in on shifts in demand and the costs of drawing online traffic. Booking will report results around 4 p.m. ET, with a conference call set for 4:30 p.m. ET.
Booking is overhauling leadership at its metasearch division, and Wall Street is adjusting its stance on the stock. It’s not a dramatic shift, but these changes are drawing traders’ attention today.
Booking revealed Tuesday that KAYAK has appointed Peer Bueller as its new CEO. Meanwhile, co-founder Steve Hafner will shift to executive chair and take on a new role at the parent company, where he’ll focus on advancing AI innovation. “Steve pioneered the metasearch category with the launch of KAYAK,” said Booking CEO Glenn Fogel. Hafner called the timing “perfect to hand the reins to Peer.” PR Newswire
UBS analyst Stephen Ju lowered his price target to $6,608 from $6,806 but kept a Buy rating on the stock.
Stocks struggled broadly on Tuesday, but Booking’s sharp drop stood out in the travel sector. The S&P 500 slipped 0.84%, while the Dow dipped 0.34%. Expedia Group took a heavy hit, falling 15.26%, and Trip.com Group and Tripadvisor also finished lower. Booking shares closed about 20% off their 52-week high, with trading volume spiking above the 50-day average, per MarketWatch.
A recent filing showed modest insider selling. Director Robert J. Mylod Jr sold 40 shares on Feb. 2 through Annox Capital, LLC, under a Rule 10b5-1 plan — a prearranged schedule that lets executives and directors sell shares.
Traders will watch closely on Wednesday to see if the stock can maintain its gains or if selling pressure spills over into other travel shares. The Kayak change is partly just corporate housekeeping, but it also shines a spotlight on the company’s product investment and traffic strategy ahead of its upcoming earnings report.
Downside risks remain. If demand drops in key markets or marketing costs rise quicker than bookings, Booking could face margin pressure even with stable travel volumes. Currency swings and tougher competition for online travel customers could intensify challenges—and quickly.
Feb. 18 is shaping up as a key date. Investors will focus on Booking’s guidance, scrutinize comments on the Kayak transition, and dig for clues about management’s outlook for the year ahead.
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