Booking (NASDAQ:BKNG) Price Target Raised to $3,950.00

Booking (NASDAQ:BKNG) had its price target boosted by analysts at Bank of America from $3,900.00 to $3,950.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. Bank of America‘s target price suggests a potential upside of 10.42% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Edward Jones reaffirmed a “hold” rating on shares of Booking in a research note on Friday, February 16th. Mizuho raised their price target on shares of Booking from $3,580.00 to $4,250.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. BMO Capital Markets started coverage on shares of Booking in a report on Tuesday, January 9th. They issued an “outperform” rating and a $4,150.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Booking from $3,560.00 to $3,950.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Seaport Res Ptn restated a “buy” rating on shares of Booking in a report on Tuesday, February 20th. Ten research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Booking currently has an average rating of “Moderate Buy” and a consensus target price of $3,823.00.

Booking Stock Performance

NASDAQ:BKNG opened at $3,577.38 on Friday. The firm’s fifty day moving average is $3,524.43 and its 200-day moving average is $3,399.84. Booking has a 52 week low of $2,456.93 and a 52 week high of $3,918.00. The firm has a market cap of $121.70 billion, a P/E ratio of 26.83, a P/E/G ratio of 1.05 and a beta of 1.40.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $20.39 EPS for the quarter, beating analysts’ consensus estimates of $14.03 by $6.36. Booking had a net margin of 21.81% and a negative return on equity of 433.49%. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same period in the prior year, the firm posted $11.60 EPS. The company’s quarterly revenue was up 16.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Booking will post 176.1 earnings per share for the current year.

Insider Activity at Booking

In other Booking news, Director Radakovich Lynn Vojvodich sold 22 shares of Booking stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $3,437.25, for a total value of $75,619.50. Following the sale, the director now owns 189 shares of the company’s stock, valued at $649,640.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Booking news, CEO Glenn D. Fogel sold 4,302 shares of Booking stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $3,422.75, for a total value of $14,724,670.50. Following the sale, the chief executive officer now owns 33,548 shares of the company’s stock, valued at $114,826,417. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Radakovich Lynn Vojvodich sold 22 shares of Booking stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $3,437.25, for a total transaction of $75,619.50. Following the completion of the sale, the director now directly owns 189 shares in the company, valued at approximately $649,640.25. The disclosure for this sale can be found here. Insiders have sold 5,483 shares of company stock valued at $18,891,445 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Booking

Several hedge funds have recently added to or reduced their stakes in the stock. Activest Wealth Management bought a new stake in shares of Booking in the fourth quarter valued at approximately $25,000. Naples Money Management LLC bought a new stake in shares of Booking in the fourth quarter valued at approximately $25,000. ICA Group Wealth Management LLC bought a new stake in shares of Booking in the fourth quarter valued at approximately $25,000. Valued Wealth Advisors LLC bought a new stake in shares of Booking in the fourth quarter valued at approximately $28,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Booking in the fourth quarter valued at approximately $28,000. Institutional investors own 92.42% of the company’s stock.

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.