Booking (NASDAQ:BKNG – Get Free Report) had its target price raised by analysts at Tigress Financial from $244.00 to $260.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “strong-buy” rating on the business services provider’s stock. Tigress Financial’s price target points to a potential upside of 44.11% from the company’s current price.
Several other research analysts have also recently issued reports on BKNG. BMO Capital Markets increased their price objective on shares of Booking from $240.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, February 19th. DA Davidson reiterated a “buy” rating and issued a $240.00 price objective on shares of Booking in a report on Wednesday. Argus decreased their price objective on shares of Booking from $256.00 to $188.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Citigroup decreased their price objective on shares of Booking from $260.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Finally, BNP Paribas Exane decreased their target price on Booking from $244.00 to $240.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.50.
Read Our Latest Analysis on Booking
Booking Stock Performance
Booking (NASDAQ:BKNG – Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The business services provider reported $48.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $46.88. Booking had a negative return on equity of 128.99% and a net margin of 20.08%.The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter in the prior year, the business posted $1.66 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities analysts expect that Booking will post 209.92 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Glenn D. Fogel sold 16,725 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $171.68, for a total transaction of $2,871,414.90. Following the completion of the sale, the chief executive officer directly owned 314,900 shares in the company, valued at approximately $54,063,291.60. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $204.21, for a total transaction of $204,214.40. Following the sale, the director owned 21,000 shares of the company’s stock, valued at $4,288,502.40. The trade was a 4.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 68,725 shares of company stock worth $12,571,467. Corporate insiders own 0.16% of the company’s stock.
Hedge Funds Weigh In On Booking
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Booking by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 2,997,949 shares of the business services provider’s stock worth $16,055,006,000 after purchasing an additional 23,159 shares during the period. J. Stern & Co. LLP boosted its stake in Booking by 191,965.8% in the 4th quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider’s stock worth $15,171,489,000 after purchasing an additional 2,831,495 shares during the period. State Street Corp boosted its stake in Booking by 0.5% in the 4th quarter. State Street Corp now owns 1,435,116 shares of the business services provider’s stock worth $7,685,520,000 after purchasing an additional 6,976 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Booking by 15.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 966,121 shares of the business services provider’s stock worth $5,173,899,000 after purchasing an additional 128,700 shares during the period. Finally, Dodge & Cox boosted its stake in Booking by 8.4% in the 4th quarter. Dodge & Cox now owns 732,081 shares of the business services provider’s stock worth $3,920,535,000 after purchasing an additional 56,999 shares during the period. Institutional investors and hedge funds own 92.42% of the company’s stock.
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.
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