Booking (NASDAQ:BKNG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Booking (NASDAQ:BKNG) had its target price upped by analysts at Wells Fargo & Company from $4,567.00 to $4,692.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 8.03% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets boosted their price target on shares of Booking from $5,000.00 to $5,700.00 and gave the company an “outperform” rating in a report on Wednesday. Cfra raised shares of Booking from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. UBS Group cut their price target on shares of Booking from $5,960.00 to $5,557.00 and set a “buy” rating for the company in a research note on Monday. Barclays upped their price objective on Booking from $5,100.00 to $5,600.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Erste Group Bank downgraded Booking from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Ten investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5,262.41.

Booking Stock Performance

Shares of NASDAQ:BKNG opened at $5,101.43 on Wednesday. Booking has a 52-week low of $3,180.00 and a 52-week high of $5,337.24. The company has a market cap of $166.52 billion, a P/E ratio of 29.48, a P/E/G ratio of 1.71 and a beta of 1.37. The stock’s 50-day moving average is $4,649.29 and its 200-day moving average is $4,812.32.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Tuesday, April 29th. The business services provider reported $24.81 EPS for the quarter, topping analysts’ consensus estimates of $17.57 by $7.24. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.58 billion. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $20.39 EPS. As a group, equities analysts predict that Booking will post 209.92 EPS for the current year.

Hedge Funds Weigh In On Booking

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd lifted its stake in shares of Booking by 6.9% in the 4th quarter. Covestor Ltd now owns 31 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 2 shares during the period. SageView Advisory Group LLC grew its stake in shares of Booking by 1.6% during the fourth quarter. SageView Advisory Group LLC now owns 124 shares of the business services provider’s stock worth $616,000 after purchasing an additional 2 shares during the period. Belpointe Asset Management LLC increased its holdings in Booking by 2.2% in the fourth quarter. Belpointe Asset Management LLC now owns 95 shares of the business services provider’s stock valued at $472,000 after purchasing an additional 2 shares during the last quarter. Elequin Capital LP lifted its stake in Booking by 20.0% in the fourth quarter. Elequin Capital LP now owns 12 shares of the business services provider’s stock valued at $60,000 after buying an additional 2 shares during the period. Finally, Fidelis Capital Partners LLC boosted its holdings in Booking by 1.2% during the first quarter. Fidelis Capital Partners LLC now owns 167 shares of the business services provider’s stock worth $809,000 after buying an additional 2 shares during the last quarter. 92.42% of the stock is owned by institutional investors.

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.