Booking (NASDAQ:BKNG) Price Target Raised to $4,448.00

Booking (NASDAQ:BKNG) had its target price raised by equities research analysts at Bank of America from $3,950.00 to $4,448.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. Bank of America‘s target price points to a potential upside of 2.23% from the stock’s previous close.

A number of other equities analysts have also issued reports on BKNG. Wells Fargo & Company increased their price target on Booking from $3,976.00 to $4,173.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. B. Riley lowered their target price on Booking from $4,900.00 to $4,650.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Evercore ISI cut their price target on shares of Booking from $4,500.00 to $4,200.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Booking from $4,275.00 to $4,105.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Morgan Stanley increased their target price on shares of Booking from $4,000.00 to $4,200.00 and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Eleven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Booking has an average rating of “Moderate Buy” and an average price target of $4,256.89.

Booking Price Performance

Shares of NASDAQ BKNG traded up $12.10 during midday trading on Friday, reaching $4,350.83. 59,842 shares of the company traded hands, compared to its average volume of 244,414. The company has a market cap of $145.84 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 1.33 and a beta of 1.40. The stock has a 50-day moving average price of $4,029.83 and a 200 day moving average price of $3,838.71. Booking has a 52 week low of $2,733.04 and a 52 week high of $4,395.00.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 EPS for the quarter, topping analysts’ consensus estimates of $39.22 by $2.68. The company had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $5.77 billion. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. Booking’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $37.62 EPS. As a group, analysts expect that Booking will post 177.17 EPS for the current year.

Insider Activity at Booking

In other Booking news, insider Paulo Pisano sold 100 shares of Booking stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the completion of the sale, the insider now directly owns 3,787 shares in the company, valued at $14,722,379.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Booking

Institutional investors and hedge funds have recently modified their holdings of the business. Brookstone Capital Management increased its position in Booking by 31.2% during the first quarter. Brookstone Capital Management now owns 265 shares of the business services provider’s stock worth $962,000 after buying an additional 63 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Booking by 4.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,025 shares of the business services provider’s stock valued at $21,859,000 after acquiring an additional 255 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in Booking in the 1st quarter worth approximately $87,000. Kathmere Capital Management LLC boosted its position in Booking by 13.8% during the first quarter. Kathmere Capital Management LLC now owns 99 shares of the business services provider’s stock worth $359,000 after purchasing an additional 12 shares during the period. Finally, Astoria Portfolio Advisors LLC. bought a new position in shares of Booking in the first quarter valued at approximately $209,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

About Booking

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.