Per CapitolTrades.com, a data platform providing information on politicians’ trades, Bill Keating, the U.S. representative for the 9th District of Massachusetts, has recently traded in the Airbnb (NASDAQ:ABNB) and Booking Holdings (NASDAQ:BKNG) stocks.
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According to the data, Keating bought ABNB stock. Moreover, the trade had a transaction size range of $1-$15K. Meanwhile, he sold BKNG stock. The trade had a transaction size range of $1-$15K. Using TipRanks’ data, let’s see what’s on the horizon for ABNB and BKNG stocks.
Is Airbnb a Buy, Sell, or Hold?
The recovery in urban and cross-border travel has significantly boosted Airbnb’s revenue, an online marketplace connecting people who rent out their homes with persons looking for accommodations. Furthermore, new use cases like long-term stays and non-urgent travel are other catalysts for growth.
However, pressure on consumer discretionary spending due to persistently high inflation and the fading of tailwinds from work-from-anywhere could pose challenges for ABNB.
Airbnb stock has eight Buy, six Hold, and three Sell recommendations for a Moderate Buy consensus rating. However, the price target of $118.60 is in line with ABNB’s closing price on February 2.
While analysts are cautiously optimistic, hedge funds sold 1.1M shares of ABNB. Furthermore, it sports a Neutral Smart Score of six.
Is BKNG a Good Stock?
Booking Holdings provides online travel and related services. Like Airbnb, Booking Holdings also benefits from the stellar recovery in travel demand. The company witnessed solid growth in gross bookings and room night trends, which supports its revenue and earnings.
BKNG expects strong growth in gross bookings in 2023. However, concerns about the macroeconomic environment and uncertainty over consumer spending could remain a drag.
BKNG stock has eight Buy and six Hold recommendations, translating into a Moderate Buy consensus rating. Moreover, analysts’ average price target of $2,544.25 implies 3.65% upside potential.
Our data shows that hedge funds bought 515.9K shares of BKNG last quarter. Meanwhile, it carries a maximum Smart Score of “Perfect 10.”Note: Shares with a “Perfect 10” Smart Score have historically outperformed the benchmark index.
Bottom Line
Keeping track of politicians’ trades could help retail investors make well-informed investment decisions. Moreover, investors can use TipRanks’ Experts Center tool to trade more confidently.
As for ABNB and BKNG, the recovery in travel demand could continue to support growth. However, tough year-over-year comparisons and uncertainty around consumer spending could play spoilsport in 2023.
