Jefferies Financial Group Issues Pessimistic Forecast for Booking (NASDAQ:BKNG) Stock Price

Booking (NASDAQ:BKNG) had its price objective cut by research analysts at Jefferies Financial Group from $5,800.00 to $5,600.00 in a note issued to investors on Friday,MarketScreener reports. The firm currently has a “hold” rating on the business services provider’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 9.84% from the company’s current price.

BKNG has been the subject of several other reports. TD Cowen reaffirmed a “buy” rating on shares of Booking in a research note on Wednesday, December 3rd. Cantor Fitzgerald boosted their price target on Booking from $5,550.00 to $5,830.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. DA Davidson increased their price objective on Booking from $6,500.00 to $6,600.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. The Goldman Sachs Group boosted their target price on Booking from $5,640.00 to $6,050.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Finally, Truist Financial set a $5,810.00 target price on Booking in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6,209.94.

Booking Price Performance

Shares of BKNG stock opened at $5,098.50 on Friday. The business has a 50-day moving average of $5,191.00 and a 200 day moving average of $5,337.30. Booking has a 1-year low of $4,096.23 and a 1-year high of $5,839.41. The stock has a market capitalization of $164.32 billion, a PE ratio of 33.14, a P/E/G ratio of 1.11 and a beta of 1.23.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Tuesday, October 28th. The business services provider reported $99.50 EPS for the quarter, topping analysts’ consensus estimates of $95.56 by $3.94. The business had revenue of $9.01 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Booking had a negative return on equity of 134.86% and a net margin of 19.37%.The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm earned $83.39 EPS. Analysts anticipate that Booking will post 209.92 EPS for the current year.

Insider Buying and Selling at Booking

In related news, CEO Glenn D. Fogel sold 953 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $5,181.34, for a total transaction of $4,937,817.02. Following the sale, the chief executive officer owned 19,615 shares of the company’s stock, valued at $101,631,984.10. The trade was a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert J. Mylod, Jr. sold 40 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $5,000.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 960 shares in the company, valued at approximately $4,800,000. This trade represents a 4.00% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,324 shares of company stock valued at $17,190,323. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Booking

Several hedge funds have recently added to or reduced their stakes in BKNG. Five Oceans Advisors increased its position in Booking by 2.3% in the 2nd quarter. Five Oceans Advisors now owns 88 shares of the business services provider’s stock worth $509,000 after buying an additional 2 shares during the period. Sachetta LLC increased its position in Booking by 28.6% during the second quarter. Sachetta LLC now owns 9 shares of the business services provider’s stock worth $52,000 after acquiring an additional 2 shares during the period. Canopy Partners LLC increased its position in Booking by 1.0% during the second quarter. Canopy Partners LLC now owns 194 shares of the business services provider’s stock worth $1,123,000 after acquiring an additional 2 shares during the period. Weaver Capital Management LLC raised its stake in Booking by 0.6% during the 2nd quarter. Weaver Capital Management LLC now owns 365 shares of the business services provider’s stock valued at $2,113,000 after purchasing an additional 2 shares during the last quarter. Finally, Accretive Wealth Partners LLC boosted its holdings in Booking by 0.5% in the 2nd quarter. Accretive Wealth Partners LLC now owns 370 shares of the business services provider’s stock valued at $2,143,000 after purchasing an additional 2 shares during the period. 92.42% of the stock is owned by institutional investors.

About Booking

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.