Booking (NASDAQ:BKNG) Price Target Raised to $2,430.00

Booking (NASDAQ:BKNGGet Rating) had its price target boosted by Barclays from $2,370.00 to $2,430.00 in a report released on Tuesday morning, The Fly reports. The brokerage currently has an overweight rating on the business services provider’s stock.

Several other research firms have also commented on BKNG. Jefferies Financial Group decreased their price objective on shares of Booking from $2,700.00 to $2,250.00 and set a buy rating for the company in a research note on Thursday, October 6th. Truist Financial decreased their price target on shares of Booking from $2,600.00 to $2,500.00 and set a buy rating for the company in a research note on Friday, October 28th. Stifel Nicolaus decreased their price target on shares of Booking from $2,400.00 to $2,300.00 and set a hold rating for the company in a research note on Thursday, August 4th. Susquehanna decreased their price target on shares of Booking from $2,800.00 to $2,650.00 and set a positive rating for the company in a research note on Monday, November 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Booking from $2,300.00 to $2,350.00 and gave the stock an overweight rating in a research note on Thursday, November 3rd. Eight equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $2,424.85.

Booking Price Performance

BKNG stock opened at $1,969.45 on Tuesday. The stock has a market capitalization of $76.39 billion, a PE ratio of 32.34, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. The company’s 50-day moving average is $1,814.43 and its 200-day moving average is $1,917.41. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.45 and a quick ratio of 1.45. Booking has a 1 year low of $1,616.85 and a 1 year high of $2,715.66.

Booking (NASDAQ:BKNGGet Rating) last posted its earnings results on Wednesday, November 2nd. The business services provider reported $53.03 earnings per share for the quarter, topping analysts’ consensus estimates of $49.55 by $3.48. Booking had a net margin of 15.23% and a return on equity of 81.11%. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the prior year, the business posted $37.70 EPS. The firm’s revenue was up 28.8% compared to the same quarter last year. Equities research analysts expect that Booking will post 92.12 EPS for the current fiscal year.

Insider Activity at Booking

In other Booking news, CFO David I. Goulden sold 150 shares of Booking stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $2,000.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 5,819 shares in the company, valued at $11,638,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO David I. Goulden sold 150 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $2,000.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 5,819 shares in the company, valued at $11,638,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert J. Mylod, Jr. purchased 500 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were purchased at an average price of $1,912.37 per share, for a total transaction of $956,185.00. Following the completion of the purchase, the director now owns 2,580 shares of the company’s stock, valued at $4,933,914.60. The disclosure for this purchase can be found here. Insiders sold a total of 431 shares of company stock valued at $850,411 over the last ninety days. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Booking

Several institutional investors and hedge funds have recently modified their holdings of BKNG. Activest Wealth Management purchased a new position in shares of Booking during the third quarter valued at approximately $25,000. Chilton Capital Management LLC purchased a new position in shares of Booking during the second quarter valued at approximately $26,000. Valley National Advisers Inc. lifted its stake in shares of Booking by 85.7% during the first quarter. Valley National Advisers Inc. now owns 13 shares of the business services provider’s stock valued at $30,000 after buying an additional 6 shares during the period. MV Capital Management Inc. lifted its stake in shares of Booking by 63.6% during the second quarter. MV Capital Management Inc. now owns 18 shares of the business services provider’s stock valued at $31,000 after buying an additional 7 shares during the period. Finally, Nvwm LLC lifted its stake in shares of Booking by 200.0% during the first quarter. Nvwm LLC now owns 15 shares of the business services provider’s stock valued at $35,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

About Booking

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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.

Further Reading

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Analyst Recommendations for Booking (NASDAQ:BKNG)

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