10 Best Momentum Stocks to Buy According to Hedge Funds

7. Booking Holdings Inc. (NASDAQ:BKNG)

Number of Hedge Fund Holders: 93 

Booking Holdings Inc. (NASDAQ:BKNG) is a leading global online travel agency that offers a wide range of services, including hotel reservations, flight bookings, and car rentals. With a portfolio of well-known brands such as Booking.com, Priceline, and Kayak, the company serves millions of travelers worldwide.

In the third-quarter 2024 results, Booking Holdings Inc. (NASDAQ:BKNG) saw a 9% year-over-year increase in gross travel bookings, reaching $43.4 billion, while total revenues also rose by 9% to $8.0 billion. Net income remained steady at $2.5 billion, with EPS growing 7% to $74.34, reflecting the company’s ability to maintain profitability while expanding. Adjusted net income surged 9% to $2.8 billion, with adjusted EPS climbing 16% to $83.89, driven by operational efficiencies. BKNG is one of the best momentum stocks on our list.

Booking Holdings Inc. (NASDAQ:BKNG) continues to evolve its business operations through strategic initiatives to enhance efficiency and capitalize on emerging trends. The company recently unveiled plans to reduce costs by approximately $400-$450 million over the next few years, focusing on process optimization and real estate footprint reduction. In parallel, the company is aggressively integrating artificial intelligence across its brands—Booking.com, Priceline, Kayak, Agoda, and OpenTable—to improve customer service and streamline operations.

Scott Devitt of Wedbush maintained a “Buy” rating on Booking Holdings Inc. (NASDAQ:BKNG), raising the price target from $5,000 to $5,500, a 9.81% increase.