Upgrades - Raymond James upgraded Take-Two (TTWO) to Strong Buy from Outperform with an unchanged price target of $285, viewing the recent selloff as overdone and presenting a more attractive risk/reward scenario for the company [2] - Daiwa upgraded Palantir (PLTR) to Buy from Neutral with a price target of $180, down from $200, citing a positive impression from the earnings release [2] - Gordon Haskett upgraded Booking Holdings (BKNG) to Buy from Hold with a price target of $5,440, believing that investors have overreacted to AI-driven competitive concerns and have discounted Booking's operational advantages [3] - Oppenheimer upgraded Unity (U) to Outperform from Perform with a price target of $38, arguing that fears regarding competition from "world models" like Google's Project Genie are misplaced and overlook Unity's unique role in development [4] - Arete upgraded Snap (SNAP) to Buy from Neutral with a price target of $7.30, noting a shift in the company's sales growth from a "sub-scale" advertising business to higher margin, recurring subscription income [5] Downgrades - HSBC downgraded Estee Lauder (EL) to Hold from Buy with a price target of $106, stating that Estee's "modest" organic sales upgrade in the quarter underwhelmed investors relative to expectations [6] - Citi downgraded Under Armour (UAA) to Sell from Neutral with an unchanged price target of $6.20, indicating that the company's turnaround in North America is facing "several pressures" in fiscal 2026 [6] - Raymond James downgraded Wingstop (WING) to Outperform from Strong Buy with an unchanged price target of $325, expressing caution regarding Wingstop's near-term sales trends [6] - Truist downgraded Texas Roadhouse (TXRH) to Hold from Buy with a price target of $188, down from $206, believing that beef price inflation will persist at least through 2027, limiting multiple expansion and pressuring margins and earnings estimates [6] - Loop Capital downgraded Monday.com (MNDY) to Hold from Buy with a price target of $80, down from $195, citing a "fine, but not great" quarter amid moderating upmarket momentum and slower adoption of newer products [6] - Baird also downgraded Monday.com to Neutral from Outperform with a price target of $90, down from $175 [6]

Amazon - Amazon is a dominant player in e-commerce and cloud computing, benefiting long-term shareholders through innovation and multiple revenue streams [3][8] - The company's online retail business has a competitive advantage due to its extensive infrastructure and same-day delivery capabilities, with its AI-powered shopping assistant reaching 250 million active users and projected to generate $10 billion in incremental annualized sales by 2025 [4][6] - Amazon's advertising revenue has an annual run rate of $85 billion, with a 22% year-over-year increase in the fourth quarter, positioning the company to benefit from the shift of ad spending to digital platforms [6] - Amazon Web Services (AWS) is a key growth driver, with a 24% year-over-year revenue increase in the fourth quarter, contributing to approximately half of Amazon's profits [7] - Analysts project Amazon's earnings per share to grow at an annualized rate of 17% in the coming years, indicating strong prospects for the business [8] Booking Holdings - Booking Holdings operates several well-known travel platforms, including Booking.com and Priceline, and has built a competitive advantage through loyalty rewards and its Connected Trips initiative [9] - The company reported 323 million room nights in the third quarter, an 8% year-over-year increase, leading to a 13% rise in revenue and a 19% increase in adjusted earnings per share [11] - Management targets 8% annual growth in gross bookings and revenue, aiming for a 15% rise in adjusted earnings, while investing in AI capabilities for personalized recommendations [12] - With a consistent operating history and prospects for double-digit earnings growth, Booking Holdings is positioned as a strong investment in the growing travel industry [13]

Group 1 - Baird has added both companies to its list of fresh bullish picks [1]

Core Viewpoint - Booking Holdings (BKNG) has experienced a significant decline of 18.4% over the past four weeks, but it is now positioned for a potential trend reversal as it enters oversold territory, with analysts predicting better earnings than previously expected [1]. Technical Analysis - The Relative Strength Index (RSI) is a momentum oscillator that indicates whether a stock is oversold, with readings below 30 typically signaling this condition [2]. - BKNG's current RSI reading is 23.69, suggesting that the heavy selling pressure may be exhausting, indicating a possible bounce back towards equilibrium in supply and demand [5]. Fundamental Analysis - There is strong consensus among sell-side analysts regarding an increase in earnings estimates for BKNG, with a 0.1% rise in the consensus EPS estimate over the last 30 days, which often correlates with price appreciation [7]. - BKNG holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the potential for a near-term turnaround [8].

Leadership Changes - Kenta Kon has been promoted to president and CEO of Toyota Motor, effective April 1, succeeding Koji Sato, who will become vice chairman and chief industry officer [2] - Prashanth Mahendra-Rajah will step down as CFO of Uber on February 16, 2026, and will be replaced by Balaji Krishnamurthy, currently vice president of strategic finance at Uber [3] - Peer Bueller has been promoted to CEO of Kayak, succeeding cofounder Steve Hafner, who will become executive chair and focus on AI innovation at Booking Holdings [4] - Liz Coddington, CFO of Peloton, is leaving for a similar role at Palmetto, with her departure effective March 30 [5] - Anubhav Mittal's employment offer to become CFO of Universal Corp. has been withdrawn, and Johan Kroner will continue as CFO until a successor is named [6] Background of Key Individuals - Kenta Kon has been with Toyota since 1991 and served as CFO since July 2025 [2] - Balaji Krishnamurthy joined Uber in 2019 and has held various leadership roles, including head of investor relations [3] - Peer Bueller joined Kayak in 2016 as CFO and took on the COO role in 2021 [4] - Liz Coddington joined Peloton as CFO in June 2022, previously working at Amazon and other notable companies [5] - Anubhav Mittal has worked at ADM for 10 years, most recently as CFO of ADM Nutrition, a $8 billion business [6] Company Implications - Toyota's leadership transition may signal a strategic shift under new management [2] - Uber's CFO change could impact its financial strategy and investor relations [3] - Kayak's new CEO may drive innovation and operational changes within the company [4] - Peloton's CFO transition could affect its financial management and strategic direction [5] - Universal Corp.'s withdrawal of Mittal's offer may create uncertainty in its financial leadership [6]

Core Viewpoint - Booking Holdings (NASDAQ:BKNG) is a major player in the online travel industry, facing competition from companies like Expedia and TripAdvisor. The stock was downgraded by Citigroup from "Outperform" to "Market Perform" with a price of $4,644.64 at the time of the downgrade [1][5]. Stock Performance - BKNG's stock closed at $4,644.64, reflecting a significant decline of 9.32% from the previous day, which is more severe compared to the S&P 500, Dow, and Nasdaq, which saw losses of 0.84%, 0.34%, and 1.43% respectively [2]. - Over the past month, BKNG's stock has decreased by 4.57%, underperforming the Retail-Wholesale sector's gain of 6.19% and the S&P 500's increase of 1.8% [2]. Upcoming Earnings Report - Investors are anticipating BKNG's earnings report scheduled for February 18, 2026, with an expected earnings per share (EPS) of $47.53, representing a 14.39% increase from the same quarter last year [3]. - The Zacks Consensus Estimate projects net sales of $6.11 billion, indicating an 11.69% rise from the previous year, suggesting potential growth despite recent stock performance challenges [3]. Trading Range and Market Capitalization - BKNG's stock has traded between a low of $4,615.19 and a high of $5,115 in the current session, with a yearly high of $5,839.41 and a low of $4,096.23 [4]. - The company's market capitalization is approximately $149.7 billion, with a current trading volume of 625,999 shares on the NASDAQ exchange [4].

Core Viewpoint - The article summarizes significant research calls from Wall Street, highlighting upgrades for various companies that could influence market movements [1] Group 1: Upgrades - BofA upgraded Five Below (FIVE) to Buy from Underperform with a price target of $233, increased from $158, citing improvements under new leadership [2] - Compass Point upgraded PayPal (PYPL) to Neutral from Sell with a price target of $51, indicating that shares are reflecting "peak uncertainty" following the earnings report [2] - Citizens upgraded Airbnb (ABNB) to Outperform from Market Perform with a price target of $160, anticipating multiple catalysts that could enhance performance [2] - Mizuho upgraded Booking Holdings (BKNG) to Outperform from Neutral with an unchanged price target of $6,000, suggesting a 30% upside and viewing the recent pullback as a buying opportunity [2] - Baird upgraded GE Vernova (GEV) to Outperform from Neutral with a price target of $923, up from $701, believing the energy infrastructure cycle is still in early stages and GE Vernova will benefit significantly [2]

Group 1 - Whales have adopted a bearish stance on Booking Holdings, with 52% of trades being bearish and only 22% bullish, indicating a cautious outlook among large investors [1] - The total volume of options trades includes 22 puts amounting to $1,688,051 and 48 calls totaling $2,867,634, reflecting a significant interest in both directions [1] - Major market movers are focusing on a price band between $3,800.0 and $8,200.0 for Booking Holdings over the last three months, suggesting a range of expected price movements [2] Group 2 - Analyzing volume and open interest is crucial for understanding the liquidity and interest in Booking Holdings' options, particularly within the identified price range [3] - Booking Holdings is the largest online travel agency globally, providing a wide array of booking services, with transaction fees being the primary source of revenue [4] - Recent expert ratings suggest an average target price of $6,039.8 for Booking Holdings, indicating a potential upside from current levels [6] Group 3 - The current stock price of Booking Holdings is $5,065.0, reflecting a decline of 6.5%, with trading volume at 213,233 [7] - RSI indicators suggest that the stock is currently in a neutral position, neither overbought nor oversold, which may influence trading strategies [7] - Upcoming earnings are expected to be released in 15 days, which could impact market sentiment and trading activity [7]

Leadership Changes - Kayak co-founder and CEO Steve Hafner has stepped down after 22 years, with CFO Peer Bueller appointed as the new CEO [1] - Hafner will transition to a newly created role as executive chair, focusing on advancing AI innovation at Booking Holdings [2] Company Background - Kayak was co-founded by Hafner and Paul English in 2004, becoming a leading travel metasearch platform alongside competitors like Skyscanner, Trivago, and Tripadvisor [4] - Booking Holdings acquired Kayak for $2.1 billion in 2013, as part of a strategy to own a metasearch company for in-house marketing and revenue generation from rival advertising [5] Market Dynamics - The rise of Google in generative AI and its dominance in hotel and flight metasearch has diminished the perceived value of metasearch platforms like Kayak [6] - In October 2025, Booking Holdings reported a $457 million writedown on Kayak, citing expected lower future cash flows and higher customer acquisition costs, largely due to changes in Google's search practices [7]

Core Insights - Booking Holdings has appointed Peer Bueller as the new CEO of KAYAK, succeeding Steve Hafner, who will transition to the role of Executive Chair [1][3] - Peer Bueller has been with KAYAK since 2016, initially as Chief Financial Officer and later as Chief Operating Officer, focusing on expansion and innovation [2][5] - Steve Hafner, a co-founder of KAYAK, has led the company for 22 years and will now focus on advancing AI innovation within Booking Holdings [3][4] Company Overview - KAYAK is a leading travel search engine under Booking Holdings, facilitating billions of queries to help users find flights, accommodations, rental cars, and vacation packages [7] - Booking Holdings operates in over 220 countries and territories, providing online travel services through brands like Booking.com, Priceline, Agoda, KAYAK, and OpenTable [8] Leadership Transition - Steve Hafner expressed confidence in Peer Bueller's leadership, highlighting his significant contributions to KAYAK's success [4] - Peer Bueller aims to enhance KAYAK's user experience and capitalize on growth opportunities as the new CEO [6]