Booking Q3 guidance could prove conservative based on trends, says BTIG

BTIG says quarter-to-date checks across the online travel agencies, or OTAs, show trends improving from June to July with August holding relatively stable. Given that the firm isn’t seeing the scale of room night deceleration implied by Booking Holdings’ Q3 guidance, the outlook “may be more of management’s typical conservatism,” says the firm, which maintains a Neutral rating on Booking shares.