Citigroup Issues Positive Forecast for Booking (NASDAQ:BKNG) Stock Price

Booking (NASDAQ:BKNG) had its price target upped by Citigroup from $4,100.00 to $5,500.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Citigroup’s target price points to a potential upside of 14.92% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Wedbush lifted their target price on Booking from $3,900.00 to $4,750.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Mizuho lifted their target price on Booking from $4,250.00 to $4,800.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. BMO Capital Markets lifted their target price on Booking from $4,205.00 to $5,155.00 and gave the stock an “outperform” rating in a research report on Thursday. Bank of America lifted their target price on Booking from $4,448.00 to $4,850.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Truist Financial initiated coverage on Booking in a research report on Friday, September 6th. They set a “hold” rating and a $4,100.00 target price on the stock. Twelve analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4,708.45.

Booking Stock Performance

Shares of NASDAQ:BKNG traded up $36.85 during midday trading on Monday, hitting $4,785.96. The company’s stock had a trading volume of 86,102 shares, compared to its average volume of 246,670. The stock has a market capitalization of $158.42 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 1.52 and a beta of 1.38. The stock’s 50 day simple moving average is $4,136.96 and its 200 day simple moving average is $3,886.98. Booking has a fifty-two week low of $2,888.45 and a fifty-two week high of $4,856.60.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 negative return on equity of 166.06% and a net margin of 21.85%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $37.62 earnings per share. As a group, analysts anticipate that Booking will post 177.79 EPS for the current year.

Insider Buying and Selling

In related news, insider Paulo Pisano sold 100 shares of the business’s 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 transaction, the insider now owns 3,787 shares in the company, valued at $14,722,379.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Booking

A number of institutional investors have recently bought and sold shares of BKNG. Jamison Private Wealth Management Inc. acquired a new stake in Booking during the 3rd quarter worth $25,000. Grove Bank & Trust grew its holdings in Booking by 133.3% during the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after acquiring an additional 4 shares during the period. POM Investment Strategies LLC acquired a new stake in Booking during the 2nd quarter worth $28,000. Kings Path Partners LLC acquired a new stake in Booking during the 2nd quarter worth $28,000. Finally, West Financial Advisors LLC acquired a new stake in Booking during the 3rd quarter worth $29,000. 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.