The First Blockbuster Stock Split of 2026 Is Just Days Away. The Stock Skyrocketed 30,490% in 25 Years and Has More Upside Ahead, According to Wall Street

The world was very different back in 1999. The West Wing was one of the biggest shows on network television, and cable viewers were just getting hooked on The Sopranos. President Bill Clinton was facing impeachment, and Columbine became a household name for all the wrong reasons. Moviegoers were drawn into The Matrix, and the European Union (EU) adopted a single currency dubbed the Euro. The internet hadn't yet gone mainstream, and people who used it primarily did so via dial-up.

However, the accelerating adoption of the internet was about to change things in a big way, though bust would follow boom. Online commerce had begun to set the world on fire, leaving a trail of would-be success stories in its wake. Priceline.com IPO'd in 1999 and became one of the unlikely survivors of the internet era, pioneering the online travel category. The platform allowed users to search travel deals and find discounts, introducing its "Name-Your-Own-Price" model that revolutionized the travel industry.

The company eventually rebranded as Booking Holdings (NASDAQ: BKNG), became the world's largest online travel company, and is about to initiate the first blockbuster stock split of 2026.

Image source: Getty Images.

One of the biggest stock splits. Ever.

In conjunction with the company's fourth-quarter results and after years of speculation, Booking announced a long-awaited 25-for-1 stock split, marking the first forward stock split in the company's history. The logic is clear. The stock has gained 753% since its 1999 IPO (despite being dragged down by the dot-com bubble) and has increased a massive 30,490% over the past 25 years (as of this writing).

Booking revealed that shareholders of record as of Friday, March 6, will receive an additional 24 shares of stock for each share they own. The distribution will occur after the market close on Thursday, April 2. The stock will begin trading on a split-adjusted basis when the market opens on Monday, April 6.

Booking's stock price, currently trading above $4,200 per share (as of this writing), makes it the first blockbuster stock split of 2026.

Changing fortunes

It's worth noting that this is a stark reversal of fortune for the company. On the heels of the dot-com bubble and amid the travel industry's struggles in the wake of 9/11, the company faced the possibility of delisting due to its share price trading at roughly $1. To remedy the situation, Booking (then Priceline) initiated a 1-for-6 reverse stock split in a bid to restore investor confidence. Despite that move, the stock price stagnated for years before eventually climbing to new heights nearly a decade later.

These days, the situation is very different, and the company's results are on solid footing. In 2025, Booking Holdings generated revenue of $26.9 billion, up 13% year over year, while its adjusted earnings per share (EPS) of $228.06 climbed 22%. Gross bookings of $186.1 billion grew 12%, fueled by room nights of 1.24 billion, up 8%.

Moreover, the company declared a $10.50 per share dividend, payable on March 31 to shareholders of record as of March 6. This represents a 9.4% increase compared to 2025. With a payout ratio of 22%, there's much more where that came from.

Booking's outlook suggests the good times are poised to continue. For the first quarter, management's forecast is calling for revenue growth of 15% and adjusted EBITDA of 12%, both at the midpoint of its guidance.

Plenty of upside

Wall Street is bullish about Booking Holdings' future prospects. Of the 38 analysts who offered an opinion in March, 79% rate it a buy or strong buy. Furthermore, Wall Street's average price target on the stock is about $5802, implying additional upside of 34%.

HSBC analyst Meredith Prichard Jensen is far more bullish than her colleagues, with a buy rating and $7,746 price target -- the highest on Wall Street -- implying potential upside of 79%. She cited the company's better-than-expected Q4 results, calling Booking an "undervalued global leader."

The stock has fallen 24% from its peak, fueled by an uncertain economy, political discord, and a troubling geopolitical backdrop. However, Booking now trades for roughly 25 times earnings, far below its three-year average multiple of 29.

This gives savvy investors with a long-term investing time horizon the chance to buy Booking Holdings stock at a significant discount.

Danny Vena, CPA has positions in Booking Holdings. The Motley Fool has positions in and recommends Booking Holdings. The Motley Fool has a disclosure policy.