Booking (NASDAQ:BKNG) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Booking (NASDAQ:BKNG) had its price objective cut by JPMorgan Chase & Co. from $248.00 to $205.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other research analysts have also recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and set a $250.00 target price on shares of Booking in a research report on Wednesday. Morgan Stanley reissued an “overweight” rating and issued a $200.00 price target (down from $230.00) on shares of Booking in a research report on Wednesday. Susquehanna restated a “positive” rating and set a $200.00 price objective (down from $240.00) on shares of Booking in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $230.00 price objective on shares of Booking in a report on Wednesday, August 5th. Finally, Bank of America reduced their target price on shares of Booking from $232.00 to $219.00 and set a “buy” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $222.35.

Booking Stock Performance

Shares of Booking stock traded down $8.06 during trading hours on Wednesday, reaching $160.66. The company’s stock had a trading volume of 7,907,758 shares, compared to its average volume of 6,818,136. The company has a market capitalization of $120.72 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.96 and a beta of 1.17. The stock’s fifty day simple moving average is $166.49 and its two-hundred day simple moving average is $176.13. Booking has a one year low of $146.28 and a one year high of $220.81.

Booking (NASDAQ:BKNG) last posted its earnings results on Tuesday, November 3rd. The business services provider reported $4.66 EPS for the quarter, topping the consensus estimate of $4.49 by $0.17. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $9.79 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period in the previous year, the firm posted $99.50 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts forecast that Booking will post 10.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Paulo Pisano sold 3,000 shares of Booking stock in a transaction on Monday, August 31st. The stock was sold at an average price of $203.48, for a total transaction of $610,440.00. Following the sale, the insider directly owned 73,400 shares in the company, valued at $14,935,432. The trade was a 3.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 14,000 shares in the company, valued at $2,800,000. This trade represents a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 77,425 shares of company stock valued at $16,004,164. 0.17% of the stock is currently owned by insiders.

Institutional Trading of Booking

A number of large investors have recently added to or reduced their stakes in BKNG. Mill Capital Management LLC increased its stake in shares of Booking by 1.1% during the 1st quarter. Mill Capital Management LLC now owns 5,721 shares of the business services provider’s stock worth $24,087,000 after purchasing an additional 65 shares during the last quarter. Van Diest Capital LLC grew its holdings in Booking by 30.1% during the first quarter. Van Diest Capital LLC now owns 281 shares of the business services provider’s stock valued at $1,185,000 after purchasing an additional 65 shares during the period. Garrett Wealth Advisory Group LLC grew its holdings in Booking by 2.5% during the third quarter. Garrett Wealth Advisory Group LLC now owns 2,667 shares of the business services provider’s stock valued at $434,000 after purchasing an additional 65 shares during the period. Adelphi Trust Co increased its position in Booking by 0.7% in the third quarter. Adelphi Trust Co now owns 9,660 shares of the business services provider’s stock worth $1,574,000 after buying an additional 67 shares during the last quarter. Finally, Allen Capital Group LLC increased its position in Booking by 11.0% in the first quarter. Allen Capital Group LLC now owns 697 shares of the business services provider’s stock worth $2,934,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking News Summary

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking’s business. Its stock should benefit
• Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
• Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
• Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
• Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target

Booking Company Profile

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.