Booking (NASDAQ:BKNG) Stock Price Expected to Rise, Gordon Haskett Analyst Says

by · The Markets Daily

Booking (NASDAQ:BKNG – Get Free Report) had its price objective increased by equities researchers at Gordon Haskett from $5,620.00 to $5,710.00 in a report issued on Wednesday,MarketScreener reports. The brokerage currently has a “hold” rating on the business services provider’s stock. Gordon Haskett’s price objective indicates a potential upside of 11.49% from the company’s previous close.

A number of other equities analysts have also issued reports on BKNG. Truist Financial set a $5,810.00 price target on Booking in a research note on Wednesday, October 29th. Robert W. Baird set a $6,325.00 target price on Booking in a report on Wednesday, October 29th. BNP Paribas set a $6,100.00 price target on shares of Booking in a research report on Monday, November 24th. Seaport Global Securities raised their price objective on shares of Booking from $6,030.00 to $6,260.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Wedbush upgraded shares of Booking from a “neutral” rating to an “outperform” rating and set a $6,000.00 target price on the stock in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6,149.23.

View Our Latest Analysis on BKNG

Booking Stock Down 1.1%

Shares of NASDAQ BKNG opened at $5,121.46 on Wednesday. The stock has a market cap of $165.06 billion, a P/E ratio of 33.09, a P/E/G ratio of 1.31 and a beta of 1.25. The firm’s 50-day simple moving average is $5,067.71 and its 200 day simple moving average is $5,381.04. Booking has a fifty-two week low of $4,096.23 and a fifty-two week high of $5,839.41.

Booking (NASDAQ:BKNG – Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The business services provider reported $99.50 earnings per share for the quarter, topping analysts’ consensus estimates of $95.56 by $3.94. The company had revenue of $9.01 billion during the quarter, compared to analyst estimates of $8.71 billion. Booking had a net margin of 19.37% and a negative return on equity of 134.86%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $83.39 EPS. On average, sell-side analysts anticipate that Booking will post 209.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert J. Mylod, Jr. sold 40 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 960 shares of the company’s stock, valued at approximately $4,800,000. The trade was a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paulo Pisano sold 200 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $5,000.00, for a total value of $1,000,000.00. Following the sale, the insider owned 1,514 shares of the company’s stock, valued at $7,570,000. The trade was a 11.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,388 shares of company stock worth $17,629,822. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Booking

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Booking during the 2nd quarter worth about $2,210,917,000. Laurel Wealth Advisors LLC raised its position in Booking by 578,824.0% during the second quarter. Laurel Wealth Advisors LLC now owns 289,462 shares of the business services provider’s stock valued at $1,675,765,000 after acquiring an additional 289,412 shares in the last quarter. Vestor Capital LLC lifted its stake in Booking by 658,925.0% in the second quarter. Vestor Capital LLC now owns 105,444 shares of the business services provider’s stock valued at $610,441,000 after acquiring an additional 105,428 shares during the last quarter. Symphony Financial Ltd. Co. bought a new stake in Booking in the second quarter worth approximately $536,675,000. Finally, Rakuten Investment Management Inc. acquired a new position in shares of Booking during the 3rd quarter worth $468,252,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Company Profile

(Get Free Report)

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.

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