How should traders position for BKNG's upcoming earnings?

**Booking Holdings (BKNG) is poised for a positive earnings report**, and traders should consider the following factors when positioning themselves ahead of the earnings release: 1. **Expected Earnings and Revenue**: Analysts anticipate BKNG to report earnings per share (EPS) of approximately $17.50 for the current quarter, which represents a year-over-year change of -14.2%. The expected revenue for the quarter is $4.59 billion, indicating a 4% increase year-over-year. Additionally, the consensus estimates for the fiscal year 2025 project earnings growth of at least 12.2% and revenue growth of 6.25% compared to the previous year. 2. **Historical Performance**: BKNG has a track record of surpassing earnings expectations, with an impressive 88% accuracy rate in beating EPS estimates over the last two years. However, the recent consensus estimates have seen some revisions, with a change of -14.2% over the last 30 days, suggesting some caution regarding the expected earnings figure. 3. **Market Sentiment**: The stock has experienced some volatility, with a decrease of 10.15% over the last month. Despite this, the stock has shown resilience, with a recent increase of 4.31% following the Q4 earnings report. Analysts maintain a positive outlook, with recent price target increases and a "Buy" rating from UBS. 4. **Strategic Considerations**: BKNG is actively investing in AI and operational efficiencies, which are expected to enhance customer experiences and improve operational efficiency. These strategic initiatives could positively impact the company's future performance and support continued growth. 5. **Potential Risks**: Institutional investors have shown some movement, with U.S. Global Investors Inc. reducing its position in BKNG by 20.7%. Additionally, the company's exposure to foreign exchange headwinds could impact its financial results, as indicated by a potential 3% impact on gross bookings and revenue in Q1 2025. In conclusion, while there are some risks to consider, the positive earnings expectations, strategic investments, and optimistic market sentiment suggest that BKNG's upcoming earnings report could be a catalyst for the stock. Traders may look to increase their positions or maintain a bullish bias ahead of the earnings release. However, it's important to remain mindful of potential risks and adjust strategies accordingly.