Truist Financial Issues Positive Forecast for Booking (NASDAQ:BKNG) Stock Price

Booking (NASDAQ:BKNG) had its target price increased by equities research analysts at Truist Financial from $4,720.00 to $5,630.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the business services provider’s stock. Truist Financial’s price target would suggest a potential downside of 2.02% from the company’s previous close.

A number of other analysts have also commented on the company. JMP Securities lifted their price target on Booking from $5,600.00 to $5,700.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 30th. UBS Group reduced their price objective on Booking from $5,960.00 to $5,557.00 and set a “buy” rating for the company in a research note on Monday, April 28th. BMO Capital Markets upped their price target on Booking from $5,000.00 to $5,700.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Erste Group Bank lowered Booking from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. raised their price target on Booking from $5,360.00 to $6,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Booking has an average rating of “Moderate Buy” and an average target price of $5,449.44.

Booking Stock Performance

NASDAQ:BKNG traded up $28.74 on Monday, hitting $5,745.84. 43,807 shares of the stock were exchanged, compared to its average volume of 248,104. The stock has a market capitalization of $186.97 billion, a price-to-earnings ratio of 35.63, a P/E/G ratio of 1.76 and a beta of 1.40. Booking has a 52 week low of $3,180.00 and a 52 week high of $5,839.41. The company’s 50-day moving average price is $5,448.04 and its 200 day moving average price is $4,997.21.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Tuesday, April 29th. The business services provider reported $24.81 earnings per share for the quarter, topping analysts’ consensus estimates of $17.57 by $7.24. Booking had a negative return on equity of 143.67% and a net margin of 22.58%. The firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.58 billion. During the same quarter in the prior year, the firm posted $20.39 EPS. The business’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts predict that Booking will post 209.92 earnings per share for the current year.

Insider Buying and Selling

In other Booking news, CEO Glenn D. Fogel sold 1,013 shares of Booking stock in a transaction on Monday, June 16th. The stock was sold at an average price of $5,356.07, for a total value of $5,425,698.91. Following the completion of the transaction, the chief executive officer owned 27,646 shares in the company, valued at approximately $148,073,911.22. The trade was a 3.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Booking

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Preservation Advisors LLC acquired a new stake in Booking during the first quarter worth approximately $28,000. Atwood & Palmer Inc. bought a new stake in Booking during the 2nd quarter worth approximately $29,000. Summit Securities Group LLC purchased a new position in shares of Booking in the 4th quarter worth approximately $30,000. Bernard Wealth Management Corp. purchased a new position in Booking in the fourth quarter valued at approximately $30,000. Finally, Keystone Global Partners LLC purchased a new stake in shares of Booking during the first quarter worth $32,000. Institutional investors own 92.42% of the company’s stock.

Booking Company Profile

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.