Booking (NASDAQ:BKNG) Price Target Raised to $4,800.00

Booking (NASDAQ:BKNG) had its target price upped by Mizuho from $4,250.00 to $4,800.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Mizuho’s price target points to a potential upside of 11.29% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Booking from $4,025.00 to $3,860.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Morgan Stanley lifted their price objective on shares of Booking from $4,000.00 to $4,200.00 and gave the company an “equal weight” rating in a research note on Thursday, September 5th. UBS Group raised their price objective on shares of Booking from $4,350.00 to $5,050.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Booking from $4,275.00 to $4,105.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com lowered shares of Booking from a “buy” rating to a “hold” rating in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,183.75.

Booking Price Performance

BKNG opened at $4,313.01 on Thursday. Booking has a 1 year low of $2,733.04 and a 1 year high of $4,395.00. The stock’s 50 day simple moving average is $4,029.83 and its 200 day simple moving average is $3,838.71. The firm has a market cap of $146.33 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.33 and a beta of 1.40.

Booking (NASDAQ:BKNG) last issued its earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share for the quarter, topping analysts’ consensus estimates of $39.22 by $2.68. The business had revenue of $5.86 billion during the quarter, compared to analyst estimates of $5.77 billion. Booking had a negative return on equity of 200.87% and a net margin of 22.46%. Booking’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $37.62 EPS. As a group, sell-side analysts anticipate that Booking will post 177.05 EPS for the current year.

Insider Activity at Booking

In other Booking news, insider Paulo Pisano sold 100 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total value of $388,761.00. Following the sale, the insider now directly owns 3,787 shares in the company, valued at $14,722,379.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Booking

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Booking by 0.4% in the first quarter. Vanguard Group Inc. now owns 2,954,450 shares of the business services provider’s stock valued at $10,718,390,000 after purchasing an additional 12,456 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Booking by 4.5% in the 1st quarter. Janus Henderson Group PLC now owns 514,336 shares of the business services provider’s stock valued at $1,865,949,000 after buying an additional 21,969 shares in the last quarter. Ninety One UK Ltd boosted its stake in Booking by 3.1% in the second quarter. Ninety One UK Ltd now owns 358,720 shares of the business services provider’s stock valued at $1,421,069,000 after acquiring an additional 10,889 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in shares of Booking by 29.2% during the first quarter. Mawer Investment Management Ltd. now owns 193,515 shares of the business services provider’s stock worth $702,049,000 after purchasing an additional 43,743 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Booking by 22.1% during the first quarter. Nordea Investment Management AB now owns 159,956 shares of the business services provider’s stock worth $584,492,000 after purchasing an additional 28,904 shares during the last quarter. Institutional investors and hedge funds 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.