Wells Fargo & Company Increases Booking (NASDAQ:BKNG) Price Target to $2,400.00

Booking (NASDAQ:BKNG – Get Rating) had its target price lifted by equities research analysts at Wells Fargo & Company from $2,050.00 to $2,400.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 2.38% from the stock’s previous close.

BKNG has been the topic of several other reports. Susquehanna cut their price objective on shares of Booking from $2,800.00 to $2,650.00 and set a “positive” rating on the stock in a report on Monday, November 7th. Truist Financial cut their price target on shares of Booking from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Mizuho cut their price target on shares of Booking from $2,300.00 to $2,170.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd. TheStreet upgraded shares of Booking from a “c+” rating to a “b-” rating in a report on Monday, December 12th. Finally, Credit Suisse Group cut their price target on shares of Booking from $2,650.00 to $2,600.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Booking has an average rating of “Moderate Buy” and an average target price of $2,434.46.

Booking Price Performance

NASDAQ:BKNG opened at $2,344.29 on Thursday. The firm has a market cap of $90.93 billion, a price-to-earnings ratio of 38.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.26. Booking has a 12-month low of $1,616.85 and a 12-month high of $2,715.66. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 2.36. The company’s 50-day moving average is $2,060.32 and its two-hundred day moving average is $1,924.29.

Booking (NASDAQ:BKNG – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The business services provider reported $53.03 earnings per share for the quarter, topping the consensus estimate of $49.40 by $3.63. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.92 billion. Booking had a net margin of 15.23% and a return on equity of 81.11%. The company’s revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the firm posted $37.70 EPS. Research analysts expect that Booking will post 95.72 EPS for the current year.

Insider Transactions at Booking

In other news, Director Radakovich Lynn Vojvodich sold 35 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $1,966.84, for a total transaction of $68,839.40. Following the completion of the sale, the director now owns 758 shares of the company’s stock, valued at $1,490,864.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Radakovich Lynn Vojvodich sold 35 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $1,966.84, for a total transaction of $68,839.40. Following the completion of the sale, the director now owns 758 shares of the company’s stock, valued at $1,490,864.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn D. Fogel sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $2,320.41, for a total transaction of $3,248,574.00. Following the sale, the chief executive officer now directly owns 43,804 shares of the company’s stock, valued at approximately $101,643,239.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,120 shares of company stock valued at $4,893,155. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Booking

A number of hedge funds have recently added to or reduced their stakes in BKNG. Activest Wealth Management acquired a new position in Booking in the third quarter worth $25,000. Chilton Capital Management LLC acquired a new position in Booking in the second quarter worth $26,000. MV Capital Management Inc. boosted its holdings in Booking by 63.6% in the second quarter. MV Capital Management Inc. now owns 18 shares of the business services provider’s stock worth $31,000 after purchasing an additional 7 shares during the period. St. James Investment Advisors LLC boosted its holdings in Booking by 50.0% in the third quarter. St. James Investment Advisors LLC now owns 21 shares of the business services provider’s stock worth $35,000 after purchasing an additional 7 shares during the period. Finally, CX Institutional acquired a new position in Booking in the second quarter worth $40,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

About Booking

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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.