Cowen Reiterates “$2,200.00” Price Target for Booking (BKNG)

Booking (NASDAQ:BKNG) has been given a $2,200.00 target price by stock analysts at Cowen in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the business services provider’s stock. Cowen’s price objective would suggest a potential upside of 20.40% from the company’s previous close.

A number of other equities analysts have also commented on the stock. DA Davidson set a $1,990.00 target price on shares of Booking and gave the stock a “hold” rating in a research report on Friday, August 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $2,200.00 target price (up from $2,100.00) on shares of Booking in a research report on Wednesday, July 11th. Stifel Nicolaus lowered shares of Booking from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Credit Suisse Group reaffirmed a “buy” rating and set a $2,100.00 target price (down from $2,250.00) on shares of Booking in a research report on Friday, August 10th. Finally, Jefferies Financial Group lowered shares of Booking from a “neutral” rating to a “hold” rating and set a $2,060.00 target price on the stock. in a research report on Friday, August 10th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Booking has a consensus rating of “Buy” and a consensus price target of $2,138.41.

Shares of NASDAQ BKNG opened at $1,827.29 on Monday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $85.72 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.43 and a beta of 1.25. Booking has a 1 year low of $1,630.56 and a 1 year high of $2,228.99.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Thursday, August 9th. The business services provider reported $20.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $17.34 by $3.33. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.45 billion. Booking had a net margin of 20.07% and a return on equity of 24.74%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm earned $24.39 earnings per share. On average, sell-side analysts predict that Booking will post 89.5 earnings per share for the current fiscal year.

In related news, CEO Gillian Tans sold 295 shares of Booking stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $1,803.58, for a total transaction of $532,056.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MUFG Securities EMEA plc purchased a new position in Booking in the second quarter worth $109,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Booking during the third quarter worth $109,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Booking by 86.7% during the second quarter. Harvest Fund Management Co. Ltd now owns 56 shares of the business services provider’s stock worth $114,000 after buying an additional 26 shares during the period. First Manhattan Co. lifted its stake in shares of Booking by 90.0% during the second quarter. First Manhattan Co. now owns 57 shares of the business services provider’s stock worth $115,000 after buying an additional 27 shares during the period. Finally, Webster Bank N. A. acquired a new stake in shares of Booking during the second quarter worth $126,000. 92.91% of the stock is currently owned by institutional investors and hedge funds.

Booking Company Profile

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.

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Analyst Recommendations for Booking (NASDAQ:BKNG)

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