Booking (NASDAQ:BKNG) Stock Gets Price Target Reduction from Rosenblatt Securities

Booking (NASDAQ:BKNG) had its price objective decreased by Rosenblatt Securities from $245.00 to $210.00 in a research report report published on Wednesday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the business services provider’s stock.

BKNG has been the subject of a number of other research reports. BTIG Research reaffirmed a “buy” rating and issued a $250.00 price target on shares of Booking in a research report on Thursday, October 22nd. Piper Sandler reissued a “neutral” rating and issued a $215.00 price objective (up from $195.00) on shares of Booking in a research report on Wednesday, August 5th. Weiss Ratings downgraded Booking from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 30th. Wedbush boosted their price objective on shares of Booking from $211.00 to $247.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $175.00 target price on shares of Booking in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $222.35.

Booking Stock Performance

Shares of BKNG stock opened at $160.66 on Wednesday. The stock has a 50 day moving average price of $166.49 and a two-hundred day moving average price of $176.13. The company has a market capitalization of $120.72 billion, a P/E ratio of 17.33, a PEG ratio of 0.96 and a beta of 1.17. Booking has a fifty-two week low of $146.28 and a fifty-two week high of $220.81.

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

Insider Activity

In related news, Director Vanessa Wittman sold 375 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $211.00, for a total transaction of $79,125.00. Following the completion of the transaction, the director owned 16,133 shares of the company’s stock, valued at approximately $3,404,063. This represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $163.06, for a total transaction of $244,590.00. Following the sale, the insider owned 70,400 shares in the company, valued at $11,479,424. This represents a 2.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 77,425 shares of company stock worth $16,004,164. 0.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Booking

A number of large investors have recently modified their holdings of BKNG. AlpenGlobal Capital LLC increased its holdings in shares of Booking by 8.4% during the third quarter. AlpenGlobal Capital LLC now owns 19,849 shares of the business services provider’s stock valued at $3,234,000 after acquiring an additional 1,544 shares in the last quarter. BCV Asset Management Inc. boosted its holdings in Booking by 4.7% in the 3rd quarter. BCV Asset Management Inc. now owns 46,918 shares of the business services provider’s stock valued at $7,674,000 after purchasing an additional 2,087 shares in the last quarter. ProVise Management Group LLC raised its holdings in shares of Booking by 2.7% in the 3rd quarter. ProVise Management Group LLC now owns 90,843 shares of the business services provider’s stock worth $14,799,000 after purchasing an additional 2,349 shares during the period. Russell Investments Group Ltd. lifted its position in Booking by 1.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,288,307 shares of the business services provider’s stock valued at $372,609,000 after purchasing an additional 42,348 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Booking during the third quarter valued at $231,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Trending Headlines about Booking

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

About Booking

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.