Booking (NASDAQ:BKNG) Price Target Raised to $274.00

Booking (NASDAQ:BKNG) had its target price raised by UBS Group from $266.00 to $274.00 in a research note issued to investors on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the business services provider’s stock.

BKNG has been the topic of several other research reports. JPMorgan Chase & Co. cut their price target on shares of Booking from $224.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Gordon Haskett boosted their price objective on shares of Booking from $217.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Evercore set a $245.00 price objective on shares of Booking in a research report on Wednesday, April 29th. The Goldman Sachs Group set a $215.00 target price on shares of Booking and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Booking in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Booking has a consensus rating of “Moderate Buy” and an average target price of $234.69.

Booking Trading Up 3.4%

BKNG stock opened at $214.42 on Wednesday. The company has a market cap of $161.11 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.27 and a beta of 1.07. The stock has a 50-day moving average price of $179.43 and a two-hundred day moving average price of $176.77. Booking has a 12-month low of $150.14 and a 12-month high of $231.80.

Booking (NASDAQ:BKNG) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $55.40 EPS. Equities analysts forecast that Booking will post 10.33 EPS for the current fiscal year.

Booking Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 annualized dividend and a yield of 0.8%. Booking’s dividend payout ratio (DPR) is 18.58%.

Insider Activity

In other news, Director Robert J. Mylod, Jr. sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $206.70, for a total value of $206,700.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $3,100,500. This represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the sale, the vice president directly owned 425,075 shares of the company’s stock, valued at approximately $69,572,025.25. The trade was a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 69,625 shares of company stock worth $11,652,075 over the last 90 days. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Booking

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Booking in the second quarter worth about $11,646,302,000. Deutsche Bank AG acquired a new stake in Booking during the 2nd quarter valued at approximately $1,691,186,000. Bank of New York Mellon Corp purchased a new stake in Booking during the 2nd quarter worth approximately $1,370,455,000. J. Stern & Co. LLP raised its position in shares of 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 valued at $15,171,489,000 after purchasing an additional 2,831,495 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Booking in the 2nd quarter valued at approximately $472,723,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

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.