Citizens Jmp assumed coverage on shares of Booking (NASDAQ:BKNG – Free Report) in a report issued on Wednesday, Marketbeat.com reports. The brokerage issued a hold rating on the business services provider’s stock.
A number of other equities analysts have also issued reports on BKNG. Robert W. Baird set a $230.00 target price on shares of Booking in a research report on Wednesday, August 5th. Benchmark raised their price target on shares of Booking from $220.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Cantor Fitzgerald dropped their price objective on shares of Booking from $170.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday. Truist Financial set a $216.00 price objective on Booking and gave the stock a “buy” rating in a report on Wednesday, September 30th. Finally, Mizuho set a $205.00 price objective on Booking in a report on Wednesday. Two 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.35.
Check Out Our Latest Research Report on Booking
Booking Trading Down 4.8%
NASDAQ BKNG traded down $8.06 on Wednesday, hitting $160.66. 7,907,758 shares of the company were exchanged, compared to its average volume of 6,818,136. The firm has a 50 day moving average of $166.49 and a two-hundred day moving average of $176.13. The company has a market cap 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. Booking has a 1-year low of $146.28 and a 1-year high of $220.81.
Booking (NASDAQ:BKNG – Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $4.66 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $0.17. The firm had revenue of $9.79 billion for the quarter, compared to analyst estimates of $9.55 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $99.50 EPS. Research analysts anticipate that Booking will post 10.48 EPS for the current fiscal year.
Insider Activity at Booking
In related news, Director Vanessa Wittman sold 375 shares of Booking 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 transaction, the director owned 16,133 shares of the company’s stock, valued at $3,404,063. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing 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, Director Robert J. Mylod, Jr. sold 1,000 shares of Booking stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 14,000 shares in the company, valued at $2,800,000. The trade was a 6.67% 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. In the last three months, insiders sold 77,425 shares of company stock worth $16,004,164. 0.17% of the stock is owned by company insiders.
Institutional Investors Weigh In On Booking
Several hedge funds have recently bought and sold shares of the company. Bogart Wealth LLC grew its holdings in shares of Booking by 3,475.0% in the 2nd quarter. Bogart Wealth LLC now owns 143 shares of the business services provider’s stock valued at $25,000 after buying an additional 139 shares during the period. Wilkerson Advisory Group LLC increased its position in shares of Booking by 3,550.0% in the 2nd quarter. Wilkerson Advisory Group LLC now owns 146 shares of the business services provider’s stock valued at $26,000 after buying an additional 142 shares in the last quarter. First Financial Corp IN increased its position in shares of Booking by 2,400.0% in the 2nd quarter. First Financial Corp IN now owns 150 shares of the business services provider’s stock valued at $27,000 after buying an additional 144 shares in the last quarter. Roble Belko & Company Inc increased its position in shares of Booking by 2,400.0% in the 2nd quarter. Roble Belko & Company Inc now owns 150 shares of the business services provider’s stock valued at $27,000 after buying an additional 144 shares in the last quarter. Finally, Kings Path Partners LLC acquired a new stake in Booking during the 3rd quarter worth $29,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.
Booking News Roundup
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.
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