Wells Fargo & Company Lowers Booking (NASDAQ:BKNG) Price Target to $4,567.00

Booking (NASDAQ:BKNG) had its price target lowered by investment analysts at Wells Fargo & Company from $5,248.00 to $4,567.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.65% from the company’s current price.

Several other brokerages also recently issued reports on BKNG. Mizuho lifted their price objective on Booking from $5,400.00 to $6,000.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. BTIG Research raised Booking from a “neutral” rating to a “buy” rating and set a $5,500.00 price target for the company in a report on Friday. Cfra upgraded Booking from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their target price on shares of Booking from $5,575.00 to $5,750.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, StockNews.com upgraded shares of Booking from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Ten analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5,351.41.

Booking Price Performance

BKNG traded down $41.38 during trading on Monday, reaching $4,242.64. 390,384 shares of the stock were exchanged, compared to its average volume of 243,758. Booking has a 1 year low of $3,180.00 and a 1 year high of $5,337.24. The company has a market capitalization of $139.22 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 1.71 and a beta of 1.37. The business’s 50 day moving average price is $4,757.12 and its two-hundred day moving average price is $4,760.24.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating analysts’ consensus estimates of $35.82 by $5.73. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. On average, analysts anticipate that Booking will post 209.92 EPS for the current year.

Institutional Trading of Booking

Several large investors have recently modified their holdings of BKNG. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Booking during the 4th quarter valued at approximately $25,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Booking during the fourth quarter worth approximately $25,000. Summit Securities Group LLC bought a new stake in shares of Booking in the fourth quarter worth $30,000. Bernard Wealth Management Corp. acquired a new stake in Booking in the fourth quarter valued at $30,000. Finally, Promus Capital LLC bought a new position in Booking during the 4th quarter valued at $35,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

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.