JPMorgan Chase & Co. Issues Positive Forecast for Booking (NASDAQ:BKNG) Stock Price

Booking (NASDAQ:BKNG) had its price target upped by JPMorgan Chase & Co. from $5,575.00 to $5,750.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other brokerages have also issued reports on BKNG. Piper Sandler reiterated a “neutral” rating and set a $5,120.00 target price (up from $4,900.00) on shares of Booking in a research report on Friday. B. Riley increased their price objective on Booking from $4,650.00 to $5,100.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America lifted their target price on Booking from $4,850.00 to $5,522.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Baird R W raised Booking to a “strong-buy” rating in a research note on Wednesday, November 27th. Finally, Argus lowered Booking from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Booking presently has an average rating of “Moderate Buy” and an average price target of $5,370.43.

Booking Price Performance

BKNG stock opened at $4,989.22 on Friday. The business has a fifty day moving average price of $4,903.34 and a 200 day moving average price of $4,551.96. Booking has a fifty-two week low of $3,180.00 and a fifty-two week high of $5,337.24. The stock has a market capitalization of $165.14 billion, a price-to-earnings ratio of 33.86, a P/E/G ratio of 1.77 and a beta of 1.39.

Booking (NASDAQ:BKNG) last announced its earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share for the quarter, beating analysts’ consensus estimates of $35.82 by $5.73. The company had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.18 billion. Booking had a negative return on equity of 166.06% and a net margin of 21.85%. On average, equities analysts expect that Booking will post 181.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Booking during the fourth quarter worth $25,000. New Wave Wealth Advisors LLC bought a new position in Booking during the 4th quarter worth about $25,000. Summit Securities Group LLC acquired a new stake in shares of Booking in the 4th quarter valued at about $30,000. Bernard Wealth Management Corp. bought a new stake in shares of Booking in the fourth quarter valued at about $30,000. Finally, Promus Capital LLC acquired a new position in shares of Booking during the fourth quarter worth about $35,000. 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.