Piper Sandler Cuts Booking (NASDAQ:BKNG) Price Target to $2,050.00

Booking (NASDAQ:BKNGGet Rating) had its target price dropped by analysts at Piper Sandler from $2,500.00 to $2,050.00 in a report released on Thursday, The Fly reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 6.50% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Citigroup boosted their price target on shares of Booking from $2,600.00 to $2,800.00 in a research report on Thursday, May 5th. Ascendiant Capital Markets set a $2,555.00 target price on shares of Booking in a report on Monday, June 20th. JPMorgan Chase & Co. decreased their target price on shares of Booking from $2,900.00 to $2,435.00 and set an “overweight” rating on the stock in a report on Wednesday, June 29th. Barclays boosted their target price on shares of Booking from $2,670.00 to $2,760.00 in a report on Thursday, May 5th. Finally, Truist Financial decreased their target price on shares of Booking from $3,000.00 to $2,600.00 and set a “buy” rating on the stock in a report on Thursday, July 14th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $2,579.86.

Booking Stock Performance

BKNG opened at $1,924.97 on Thursday. The firm has a market capitalization of $78.20 billion, a PE ratio of 51.32, a PEG ratio of 1.24 and a beta of 1.25. Booking has a twelve month low of $1,669.34 and a twelve month high of $2,715.66. The firm’s 50-day moving average price is $1,932.40 and its 200 day moving average price is $2,144.37. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.12.

Booking (NASDAQ:BKNGGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The business services provider reported $19.08 earnings per share for the quarter, topping analysts’ consensus estimates of $17.93 by $1.15. Booking had a net margin of 10.54% and a return on equity of 58.71%. During the same quarter last year, the firm earned ($2.55) EPS. As a group, sell-side analysts expect that Booking will post 98.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paulo Pisano sold 120 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $2,100.00, for a total transaction of $252,000.00. Following the sale, the insider now directly owns 3,003 shares of the company’s stock, valued at approximately $6,306,300. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Booking news, insider Paulo Pisano sold 120 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $2,100.00, for a total value of $252,000.00. Following the sale, the insider now directly owns 3,003 shares of the company’s stock, valued at approximately $6,306,300. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Glenn D. Fogel sold 200 shares of the stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $2,000.20, for a total transaction of $400,040.00. Following the completion of the sale, the chief executive officer now directly owns 48,315 shares in the company, valued at $96,639,663. The disclosure for this sale can be found here. Insiders have sold a total of 470 shares of company stock valued at $952,060 in the last ninety days. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Booking

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Booking in the 4th quarter valued at $14,310,000. Commonwealth Equity Services LLC grew its position in shares of Booking by 2.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,708 shares of the business services provider’s stock valued at $6,497,000 after buying an additional 56 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its position in shares of Booking by 78.4% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 157 shares of the business services provider’s stock valued at $377,000 after buying an additional 69 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Booking by 80.7% in the 4th quarter. D.A. Davidson & CO. now owns 262 shares of the business services provider’s stock valued at $629,000 after buying an additional 117 shares during the last quarter. Finally, CWM LLC purchased a new position in shares of Booking in the 4th quarter valued at $401,000. 89.48% of the stock is owned by hedge funds and other institutional investors.

About Booking

(Get Rating)

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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