5 Best Summer Stocks To Buy Now

2. Booking Holdings Inc. (NASDAQ:BKNG)

Number of Hedge Fund Holders: 92

Booking Holdings Inc. (NASDAQ:BKNG) is a tourism and accommodation company which operates Booking.com and Rentalcars.com. Millions of users rely on these platforms to make their travel arrangements around the globe, and it is why Booking Holdings Inc. (NASDAQ:BKNG) is one of the best stocks to buy this summer.

Citi analyst Ronald Josey on May 5 maintained a ‘Buy’ rating on Booking Holdings Inc. (NASDAQ:BKNG) shares and raised the price target to $2,800 from $2,600. Josey sees the firm gaining share of the resurgent global travel market, with booking windows lengthening, gross bookings reaching record levels in April, and room nights returning to growth relative to 2019 — all within a strong overall demand in the travel industry.

Reporting its first quarter earnings on May 4, Booking Holdings Inc. (NASDAQ:BKNG) reported an EPS of $3.90, beating estimates by $2.56. Revenue for the quarter was recorded at $2.7 billion, up $167.2 million from analysts’ estimates and increasing 136.2% year-on-year.

The most prominent shareholder of Booking Holdings Inc. (NASDAQ:BKNG) at the end of the fourth quarter was Harris Associates, which held a stake consisting of roughly 669,000 shares worth $1.6 billion. In total, 92 hedge funds were long on the company shares at the close of Q4 2021, with a combined value of $7.7 billion.