Royal Bank of Canada Raises Booking (NASDAQ:BKNG) Price Target to $5,250.00

Booking (NASDAQ:BKNG) had its price objective upped by Royal Bank of Canada from $3,900.00 to $5,250.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 10.55% from the company’s current price.

Several other equities research analysts have also issued reports on BKNG. Evercore ISI reduced their price target on Booking from $4,500.00 to $4,200.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. JMP Securities lifted their target price on shares of Booking from $5,000.00 to $5,400.00 and gave the company a “market outperform” rating in a research note on Friday. Bank of America boosted their target price on shares of Booking from $4,448.00 to $4,850.00 and gave the stock a “neutral” rating in a research report on Thursday. The Goldman Sachs Group lifted their price objective on shares of Booking from $3,940.00 to $4,510.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Piper Sandler increased their target price on shares of Booking from $3,560.00 to $4,900.00 and gave the stock a “neutral” rating in a research report on Thursday. Twelve analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,680.18.

Booking Stock Performance

Booking stock opened at $4,749.11 on Friday. Booking has a twelve month low of $2,756.39 and a twelve month high of $4,856.60. The firm has a market cap of $157.20 billion, a PE ratio of 32.23, a P/E/G ratio of 1.52 and a beta of 1.38. The firm’s 50 day moving average price is $4,136.96 and its two-hundred day moving average price is $3,883.88.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $83.89 EPS for the quarter, beating the consensus estimate of $77.94 by $5.95. Booking had a net margin of 21.85% and a negative return on equity of 166.06%. The business had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.63 billion. Equities analysts anticipate that Booking will post 177.79 EPS for the current fiscal year.

Insider Activity

In other Booking news, insider Paulo Pisano sold 100 shares of Booking stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the sale, the insider now owns 3,787 shares in the company, valued at $14,722,379.07. The trade was 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 link. 0.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKNG. Jamison Private Wealth Management Inc. bought a new stake in shares of Booking in the 3rd quarter valued at approximately $25,000. Grove Bank & Trust grew its position in Booking by 133.3% in the second 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 acquired a new position in Booking during the second quarter worth $28,000. Kings Path Partners LLC bought a new position in shares of Booking during the second quarter valued at $28,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Booking in the 3rd quarter valued at $29,000. 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.