Ken Fisher’s Top 10 Growth Stock Picks with 30+% Revenue Growth

4. Booking Holdings Inc. (NASDAQ:BKNG)

Number of Hedge Fund Investors  in Q1 2024: 97

3 Yr Revenue Growth: 46.49%

Fisher Investments’ Q1 2024 Stake: $1.4 billion

Booking Holdings Inc. (NASDAQ:BKNG) is yet another travel services provider on our list of Ken Fisher’s top growth stocks. Its business model means that the firm is exposed to global discretionary spending trends, and any drop in economic growth can affect its shares. However, Booking Holdings Inc. (NASDAQ:BKNG) is one of the biggest players in the industry, and it is also well known for its cost advantage over rival Expedia. Booking Holdings Inc. (NASDAQ:BKNG)’s latest operating margin is 27.7%, which is significantly higher than Expedia’s 11.5%, and allows Booking to keep a lean profile even during a downturn. The firm reported 563 million website visits in May 2024 according to SemRush, and 100 million application users in 2023. Both provide Booking Holdings Inc. (NASDAQ:BKNG) with a strong market base, and the firm has to simply retain share by offering new features. On this front, Trip Planner and Penny are AI driven features that Booking Holdings Inc. (NASDAQ:BKNG) has introduced to users.

Since its health nevertheless depends on traveler volume, here what WedgeWood Partners had to say about Booking Holdings Inc. (NASDAQ:BKNG) in its Q2 2024 investor letter:

“Booking Holdings Inc. (NASDAQ:BKNG) contributed to performance as travel spending across the U.S. and Europe remains quite healthy, whereas the Company took share in alternative accommodations, and looks set to expand margins after a few years of reinvestment. The Company has also been aggressively reducing its share count at reasonably attractive valuation multiples. Booking should be able to compound earnings at an attractive, double-digit rate for the next few years given these various initiatives.”