Booking (NASDAQ:BKNG) Price Target Cut to $170.00 by Analysts at Barclays

Booking (NASDAQ:BKNG) had its price target lowered by stock analysts at Barclays from $210.00 to $170.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Barclays‘s price objective would suggest a potential downside of 1.72% from the stock’s current price.

Several other brokerages have also recently weighed in on BKNG. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $175.00 price target on shares of Booking in a research note on Wednesday. TD Cowen raised shares of Booking to a “strong-buy” rating in a research report on Monday, September 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $230.00 price target on shares of Booking in a research note on Wednesday, August 5th. Benchmark lifted their price objective on shares of Booking from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Rosenblatt Securities lowered their price objective on shares of Booking from $245.00 to $210.00 and set a “buy” rating on the stock 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Booking currently has an average rating of “Moderate Buy” and a consensus target price of $223.33.

Booking Price Performance

Shares of Booking stock traded up $17.30 during trading hours on Wednesday, hitting $172.97. The company’s stock had a trading volume of 6,211,450 shares, compared to its average volume of 8,134,348. The stock has a 50 day moving average of $168.99 and a 200 day moving average of $176.70. Booking has a 12 month low of $146.28 and a 12 month high of $220.81. The company has a market capitalization of $129.97 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17.

Booking (NASDAQ:BKNG) last announced 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 firm had revenue of $9.79 billion for the quarter, compared to the consensus estimate of $9.55 billion. During the same period last year, the company posted $99.50 EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts expect that Booking will post 10.48 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Booking

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP increased its holdings in shares of Booking by 1,615.6% during the second quarter. Allworth Financial LP now owns 13,931 shares of the business services provider’s stock worth $2,483,000 after purchasing an additional 13,119 shares during the period. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Booking in the second quarter valued at approximately $11,687,000. MBM Wealth Consultants LLC boosted its stake in shares of Booking by 2,860.8% in the second quarter. MBM Wealth Consultants LLC now owns 12,554 shares of the business services provider’s stock valued at $2,238,000 after buying an additional 12,130 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Booking by 2,549.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 88,949 shares of the business services provider’s stock worth $16,077,000 after buying an additional 85,592 shares in the last quarter. Finally, Venture Visionary Partners LLC grew its position in Booking by 53.3% during the third quarter. Venture Visionary Partners LLC now owns 61,803 shares of the business services provider’s stock worth $10,068,000 after buying an additional 21,496 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking reported adjusted earnings of $4.66 per share, above analysts’ estimates, while room nights grew 7% and adjusted EBITDA increased 9%. These operating results offered investors a positive counterpoint to weaker reported figures. Q3 earnings call highlights
• Positive Sentiment: The company is investing in AI-powered booking tools and loyalty programs, and pursuing cost savings. Those initiatives could support future growth and efficiency, though their impact remains to be seen. Earnings call highlights
• Neutral Sentiment: Several firms lowered price targets after the results but maintained Buy or Outperform ratings, including B. Riley, Wedbush, Bank of America and Rosenblatt. The revisions temper expectations, while continued positive ratings suggest many analysts still see upside. Analysts cut forecasts
• Negative Sentiment: Management expects slower Q4 travel growth amid soft international demand, citing factors including Middle East conflict, higher airfares and European turmoil. A roughly $900 million FTC-related impact also weighed on reported revenue, which declined year over year despite growth in adjusted revenue. FTC-related revenue impact

Booking Company Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.