Credit Suisse analyst Stephen Ju lowered the firm's price target on Booking Holdings to $2,260 from $2,330 and keeps an Outperform rating on the shares. Citing headwinds due to COVID-19, management offered initial Q1 guidance contemplating a range of year over year decline ranges for all of unit growth, FXN Gross Bookings, revenue, adjusted EBITDA, and EPS, the analyst notes. Ju is decreasing Q2 estimates as he chooses to assume virus-related headwinds will persist into early summer, but expects travel activity to rebound as stronger signals that the virus has been contained inevitably emerge.

WEX (WEX) announced that it has reached a new long-term agreement with Booking.com (BKNG), effective April 2024. This agreement distinguishes WEX as Booking.com's preferred virtual card provider as it continues providing WEX payment solutions in support of Booking.com's payments vision to make buying and selling travel-related products and services easier for everyone. "With more than 800,000 active customer relationships worldwide, WEX is proud to work with eight of the top ten online travel agencies globally, including Booking.com," said Carlos Carriedo, WEX's Chief Operating Officer, International. "Building on years of working together, we remain committed to delivering WEX's deep expertise in both payments and travel, as well as the reliability of our technology platform, to help Booking.com power its B2B travel payment activities 24/7 and 365 days/year at scale, globally." Booking.com first became a WEX customer in 2013. Over a decade later, WEX now processes payments for Booking.com across the world.