Bank of America Increases Booking (NASDAQ:BKNG) Price Target to $4,448.00

Booking (NASDAQ:BKNG) had its price target hoisted by equities researchers at Bank of America from $3,950.00 to $4,448.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. Bank of America‘s price target suggests a potential upside of 2.30% from the stock’s current price.

BKNG has been the subject of a number of other research reports. Morgan Stanley increased their target price on shares of Booking from $4,000.00 to $4,200.00 and gave the company an “equal weight” rating in a research report on Thursday, September 5th. Benchmark cut their price objective on shares of Booking from $4,700.00 to $4,600.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Tigress Financial upped their price target on Booking from $4,285.00 to $4,580.00 and gave the company a “strong-buy” rating in a research report on Tuesday, July 9th. StockNews.com downgraded Booking from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Wedbush upped their target price on Booking from $3,900.00 to $4,750.00 and gave the company an “outperform” rating in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4,256.89.

Booking Trading Up 0.2 %

Shares of BKNG stock opened at $4,347.82 on Friday. Booking has a 12-month low of $2,733.04 and a 12-month high of $4,395.00. The company has a market capitalization of $145.74 billion, a P/E ratio of 30.44, a P/E/G ratio of 1.33 and a beta of 1.40. The business’s 50 day moving average is $4,058.49 and its two-hundred day moving average is $3,849.23.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share for the quarter, beating analysts’ consensus estimates of $39.22 by $2.68. The firm had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.77 billion. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. Booking’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $37.62 EPS. On average, research analysts predict that Booking will post 177.17 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paulo Pisano sold 100 shares of Booking stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the completion of the transaction, the insider now owns 3,787 shares in the company, valued at approximately $14,722,379.07. The trade was 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. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Booking

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