StockNews.com Downgrades Booking (NASDAQ:BKNG) to Hold

Booking (NASDAQ:BKNG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts also recently commented on the stock. Piper Sandler reiterated a “neutral” rating and set a $5,120.00 price objective (up from $4,900.00) on shares of Booking in a research note on Friday, February 21st. Benchmark increased their price target on shares of Booking from $5,000.00 to $5,900.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. cut their price objective on Booking from $5,750.00 to $4,850.00 and set an “overweight” rating on the stock in a research note on Tuesday. Citigroup increased their target price on shares of Booking from $5,500.00 to $5,800.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Wedbush raised their target price on shares of Booking from $5,000.00 to $5,500.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Booking currently has a consensus rating of “Moderate Buy” and an average target price of $5,327.28.

Booking Stock Performance

BKNG opened at $4,586.53 on Thursday. The stock has a market capitalization of $150.51 billion, a PE ratio of 26.51, a P/E/G ratio of 1.71 and a beta of 1.37. Booking has a 1 year low of $3,180.00 and a 1 year high of $5,337.24. The company’s 50 day simple moving average is $4,715.54 and its 200 day simple moving average is $4,766.03.

Booking (NASDAQ:BKNG) last released its quarterly earnings results 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. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.18 billion. As a group, sell-side analysts expect that Booking will post 209.92 earnings per share for the current fiscal year.

Institutional Trading of Booking

Large investors have recently added to or reduced their stakes in the business. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Booking in the 4th quarter worth $25,000. New Wave Wealth Advisors LLC purchased a new position in Booking in the 4th quarter worth about $25,000. Summit Securities Group LLC acquired a new stake in Booking during the 4th quarter worth about $30,000. Bernard Wealth Management Corp. purchased a new stake in Booking during the fourth quarter valued at about $30,000. Finally, Promus Capital LLC acquired a new position in shares of Booking in the fourth quarter worth about $35,000. 92.42% of the stock is currently owned by institutional investors.

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.