Booking (NASDAQ:BKNG) Given “Buy” Rating at BTIG Research

Booking (NASDAQ:BKNG)‘s stock had its “buy” rating reaffirmed by equities researchers at BTIG Research in a note issued to investors on Tuesday,Benzinga reports. They currently have a $6,250.00 price target on the business services provider’s stock. BTIG Research’s price target indicates a potential upside of 15.59% from the company’s previous close.

A number of other brokerages have also recently weighed in on BKNG. Rothschild & Co Redburn raised their target price on shares of Booking from $6,250.00 to $6,400.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Citigroup reissued a “market outperform” rating on shares of Booking in a research note on Wednesday, October 29th. Cantor Fitzgerald decreased their target price on Booking from $5,590.00 to $5,550.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Booking in a report on Monday, December 15th. Finally, Gordon Haskett increased their price target on Booking from $5,620.00 to $5,710.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Booking presently has an average rating of “Moderate Buy” and a consensus price target of $6,149.23.

Booking Stock Up 0.2%

Shares of Booking stock opened at $5,406.99 on Tuesday. The business has a fifty day simple moving average of $5,080.59 and a 200-day simple moving average of $5,372.85. Booking has a fifty-two week low of $4,096.23 and a fifty-two week high of $5,839.41. The firm has a market cap of $174.27 billion, a price-to-earnings ratio of 35.14, a price-to-earnings-growth ratio of 1.36 and a beta of 1.25.

Booking (NASDAQ:BKNG) last released its earnings results on Tuesday, October 28th. The business services provider reported $99.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $95.56 by $3.94. Booking had a negative return on equity of 134.86% and a net margin of 19.37%.The firm had revenue of $9.01 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period in the previous year, the company earned $83.39 earnings per share. Booking’s revenue was up 12.7% compared to the same quarter last year. Analysts anticipate that Booking will post 209.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paulo Pisano sold 200 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $5,000.00, for a total value of $1,000,000.00. Following the completion of the sale, the insider directly owned 1,514 shares of the company’s stock, valued at $7,570,000. This represents a 11.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn D. Fogel sold 625 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $5,141.53, for a total transaction of $3,213,456.25. Following the sale, the chief executive officer owned 22,982 shares of the company’s stock, valued at approximately $118,162,642.46. This represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,324 shares of company stock worth $17,193,557. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Booking

A number of hedge funds have recently modified their holdings of the stock. Atwood & Palmer Inc. acquired a new stake in Booking during the second quarter valued at $29,000. Westside Investment Management Inc. raised its stake in shares of Booking by 400.0% during the 2nd quarter. Westside Investment Management Inc. now owns 5 shares of the business services provider’s stock worth $29,000 after purchasing an additional 4 shares in the last quarter. Halbert Hargrove Global Advisors LLC raised its stake in shares of Booking by 150.0% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 5 shares of the business services provider’s stock worth $27,000 after purchasing an additional 3 shares in the last quarter. Guerra Advisors Inc acquired a new stake in shares of Booking during the 3rd quarter valued at about $27,000. Finally, KERR FINANCIAL PLANNING Corp bought a new stake in shares of Booking in the 3rd quarter valued at approximately $26,000. 92.42% of the stock is owned by institutional investors and hedge funds.

About Booking

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.