Booking (NASDAQ:BKNG) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Booking (NASDAQ:BKNG) had its target price boosted by research analysts at Royal Bank of Canada from $5,250.00 to $5,900.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 16.73% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Bank of America raised their price target on shares of Booking from $4,850.00 to $5,522.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Benchmark raised their price target on shares of Booking from $5,000.00 to $5,900.00 and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald raised their price target on shares of Booking from $4,900.00 to $5,540.00 and gave the company a “neutral” rating in a report on Friday. Susquehanna raised their price target on shares of Booking from $4,100.00 to $5,500.00 and gave the company a “positive” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company raised their price target on shares of Booking from $4,470.00 to $5,248.00 and gave the company an “equal weight” rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5,370.43.

Booking Trading Up 0.7 %

NASDAQ:BKNG traded up $35.98 on Friday, reaching $5,054.21. 389,954 shares of the stock traded hands, compared to its average volume of 261,747. The company has a market capitalization of $167.29 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 1.77 and a beta of 1.39. Booking has a 12 month low of $3,180.00 and a 12 month high of $5,337.24. The company’s fifty day simple moving average is $4,908.11 and its 200 day simple moving average is $4,540.81.

Booking (NASDAQ:BKNG) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $41.55 earnings per share for the quarter, beating analysts’ consensus estimates of $35.82 by $5.73. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.18 billion. Booking had a net margin of 21.85% and a negative return on equity of 166.06%. Equities analysts anticipate that Booking will post 181.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Booking

Institutional investors and hedge funds have recently modified their holdings of the stock. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Booking during the fourth quarter valued at approximately $25,000. New Wave Wealth Advisors LLC bought a new stake in shares of Booking during the fourth quarter valued at approximately $25,000. Summit Securities Group LLC bought a new stake in shares of Booking during the fourth quarter valued at approximately $30,000. Bernard Wealth Management Corp. bought a new stake in shares of Booking during the fourth quarter valued at approximately $30,000. Finally, Valley National Advisers Inc. raised its position in shares of Booking by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock valued at $36,000 after buying an additional 6 shares during the last quarter. 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.