Wells Fargo & Company Issues Pessimistic Forecast for Booking (NASDAQ:BKNG) Stock Price

Booking (NASDAQ:BKNG) had its price objective dropped by investment analysts at Wells Fargo & Company from $4,657.00 to $4,470.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 7.22% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. BMO Capital Markets upped their price target on Booking from $4,205.00 to $5,155.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Robert W. Baird started coverage on shares of Booking in a report on Wednesday, November 27th. They issued an “outperform” rating and a $5,850.00 price target for the company. B. Riley increased their price objective on shares of Booking from $4,650.00 to $5,100.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Tigress Financial lifted their target price on Booking from $4,580.00 to $5,600.00 and gave the company a “strong-buy” rating in a research note on Monday, November 18th. Finally, Oppenheimer upped their price objective on Booking from $5,500.00 to $6,000.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,997.64.

Booking Price Performance

NASDAQ BKNG traded down $11.64 during trading hours on Thursday, hitting $4,818.00. The company had a trading volume of 11,901 shares, compared to its average volume of 203,167. The firm’s 50 day moving average is $5,057.06 and its 200 day moving average is $4,363.83. The company has a market capitalization of $159.48 billion, a price-to-earnings ratio of 32.69, a P/E/G ratio of 1.60 and a beta of 1.41. Booking has a fifty-two week low of $3,180.00 and a fifty-two week high of $5,337.24.

Hedge Funds Weigh In On Booking

Large investors have recently made changes to their positions in the business. Jamison Private Wealth Management Inc. acquired a new position in shares of Booking during the third quarter worth approximately $25,000. West Financial Advisors LLC bought a new stake in Booking in the 3rd quarter valued at $29,000. Addison Advisors LLC grew its position in Booking by 80.0% in the 3rd quarter. Addison Advisors LLC now owns 9 shares of the business services provider’s stock worth $38,000 after purchasing an additional 4 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of Booking during the 2nd quarter worth about $41,000. Finally, Carmichael Hill & Associates Inc. grew its position in Booking by 66.7% during the third quarter. Carmichael Hill & Associates Inc. now owns 10 shares of the business services provider’s stock worth $42,000 after buying an additional 4 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

About Booking

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.