Bank of America Increases Booking (NASDAQ:BKNG) Price Target to $4,850.00

Booking (NASDAQ:BKNG) had its price target raised by Bank of America from $4,448.00 to $4,850.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Bank of America‘s price target would indicate a potential upside of 2.12% from the stock’s current price.

Several other research firms have also recently issued reports on BKNG. JMP Securities lifted their price objective on shares of Booking from $3,950.00 to $5,000.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $3,900.00 price target on shares of Booking in a research note on Monday, August 5th. DA Davidson increased their price objective on shares of Booking from $4,100.00 to $5,005.00 and gave the company a “buy” rating in a report on Thursday. Wedbush lifted their target price on Booking from $3,900.00 to $4,750.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, B. Riley dropped their price target on Booking from $4,900.00 to $4,650.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,680.18.

Booking Stock Performance

Shares of Booking stock opened at $4,749.11 on Thursday. The company has a fifty day moving average of $4,136.96 and a 200 day moving average of $3,880.99. The company has a market capitalization of $159.19 billion, a P/E ratio of 32.23, a P/E/G ratio of 1.45 and a beta of 1.40. Booking has a fifty-two week low of $2,756.39 and a fifty-two week high of $4,856.60.

Booking (NASDAQ:BKNG) last released its earnings results on Wednesday, October 30th. The business services provider reported $83.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $77.94 by $5.95. Booking had a negative return on equity of 165.63% and a net margin of 21.85%. The firm had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.63 billion. Analysts forecast that Booking will post 177.37 EPS for the current year.

Insider Buying and Selling at Booking

In other news, insider Paulo Pisano sold 100 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the transaction, the insider now directly owns 3,787 shares of the company’s stock, valued at approximately $14,722,379.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.12% of the stock is owned by insiders.

Institutional Trading of Booking

Institutional investors have recently bought and sold shares of the stock. Jamison Private Wealth Management Inc. acquired a new stake in shares of Booking during the third quarter worth $25,000. Grove Bank & Trust increased its position in shares of Booking by 133.3% in the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 4 shares during the period. POM Investment Strategies LLC purchased a new stake in Booking during the 2nd quarter valued at about $28,000. Kings Path Partners LLC acquired a new position in shares of Booking in the second quarter valued at about $28,000. Finally, West Financial Advisors LLC purchased a new position in shares of Booking in the third quarter worth about $29,000. 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.