Booking (NASDAQ:BKNG) Price Target Raised to $5,820.00 at Bank of America

Booking (NASDAQ:BKNG) had its price target increased by Bank of America from $5,580.00 to $5,820.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

BKNG has been the topic of several other reports. Barclays upped their price target on shares of Booking from $5,100.00 to $5,600.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Wall Street Zen upgraded Booking from a “hold” rating to a “buy” rating in a report on Wednesday, April 30th. B. Riley boosted their price objective on Booking from $6,000.00 to $6,100.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Citigroup increased their target price on Booking from $5,500.00 to $5,800.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, BTIG Research upgraded Booking from a “neutral” rating to a “buy” rating and set a $5,500.00 target price for the company in a research report on Friday, April 4th. Ten 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5,388.37.

Booking Price Performance

NASDAQ:BKNG opened at $5,539.41 on Monday. The firm has a market capitalization of $180.25 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 1.71 and a beta of 1.41. The business has a 50 day simple moving average of $5,007.30 and a 200-day simple moving average of $4,933.57. Booking has a 1 year low of $3,180.00 and a 1 year high of $5,639.70.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Tuesday, April 29th. The business services provider reported $24.81 earnings per share for the quarter, beating the consensus estimate of $17.57 by $7.24. The company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. Booking’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $20.39 EPS. As a group, analysts expect that Booking will post 209.92 earnings per share for the current fiscal year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $9.60 dividend. This represents a $38.40 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, June 6th. Booking’s payout ratio is 23.89%.

Institutional Trading of Booking

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in shares of Booking by 6.9% in the fourth quarter. Covestor Ltd now owns 31 shares of the business services provider’s stock worth $158,000 after purchasing an additional 2 shares during the last quarter. SageView Advisory Group LLC increased its holdings in Booking by 1.6% in the 4th quarter. SageView Advisory Group LLC now owns 124 shares of the business services provider’s stock worth $616,000 after buying an additional 2 shares during the period. Belpointe Asset Management LLC raised its position in Booking by 2.2% during the 4th quarter. Belpointe Asset Management LLC now owns 95 shares of the business services provider’s stock worth $472,000 after buying an additional 2 shares during the last quarter. Elequin Capital LP raised its position in Booking by 20.0% during the 4th quarter. Elequin Capital LP now owns 12 shares of the business services provider’s stock worth $60,000 after buying an additional 2 shares during the last quarter. Finally, Fidelis Capital Partners LLC lifted its stake in Booking by 1.2% during the 1st quarter. Fidelis Capital Partners LLC now owns 167 shares of the business services provider’s stock valued at $809,000 after acquiring an additional 2 shares during the period. Institutional investors and hedge funds 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.