Booking (NASDAQ:BKNG) Stock Rating Reaffirmed by Wedbush

Booking (NASDAQ:BKNG)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a research note issued to investors on Thursday, Benzinga reports. They presently have a $3,850.00 price target on the business services provider’s stock. Wedbush’s target price would suggest a potential upside of 12.74% from the stock’s current price.

BKNG has been the topic of several other research reports. Erste Group Bank reiterated a “hold” rating on shares of Booking in a research note on Wednesday, March 13th. Evercore ISI decreased their price target on Booking from $3,900.00 to $3,800.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. StockNews.com upgraded Booking from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Oppenheimer lifted their price target on Booking from $3,450.00 to $4,200.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Seaport Res Ptn reiterated a “buy” rating on shares of Booking in a research note on Tuesday, February 20th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $3,723.41.

Booking Price Performance

Booking stock opened at $3,414.82 on Thursday. The stock’s fifty day moving average price is $3,571.22 and its two-hundred day moving average price is $3,366.94. Booking has a one year low of $2,456.93 and a one year high of $3,918.00. The firm has a market cap of $116.69 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 1.05 and a beta of 1.40.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $32.00 EPS for the quarter, topping analysts’ consensus estimates of $29.72 by $2.28. Booking had a negative return on equity of 751.49% and a net margin of 20.08%. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter last year, the company earned $24.74 EPS. The company’s revenue was up 18.2% on a year-over-year basis. Sell-side analysts expect that Booking will post 175.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Glenn D. Fogel sold 4,302 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $3,422.75, for a total value of $14,724,670.50. Following the completion of the sale, the chief executive officer now directly owns 33,548 shares of the company’s stock, valued at approximately $114,826,417. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Radakovich Lynn Vojvodich sold 59 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $3,700.00, for a total value of $218,300.00. Following the completion of the sale, the director now directly owns 289 shares of the company’s stock, valued at approximately $1,069,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn D. Fogel sold 4,302 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $3,422.75, for a total value of $14,724,670.50. Following the completion of the sale, the chief executive officer now directly owns 33,548 shares of the company’s stock, valued at $114,826,417. The disclosure for this sale can be found here. Insiders have sold 5,461 shares of company stock valued at $18,815,825 in the last ninety days. 0.15% of the stock is owned by company insiders.

Institutional Trading of Booking

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Booking by 37.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,317 shares of the business services provider’s stock worth $151,044,000 after purchasing an additional 17,432 shares in the last quarter. Cetera Investment Advisers increased its holdings in Booking by 18.8% during the 1st quarter. Cetera Investment Advisers now owns 613 shares of the business services provider’s stock worth $1,440,000 after purchasing an additional 97 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Booking during the 1st quarter worth approximately $387,000. Baird Financial Group Inc. increased its holdings in Booking by 2.0% during the 1st quarter. Baird Financial Group Inc. now owns 4,585 shares of the business services provider’s stock worth $10,767,000 after purchasing an additional 88 shares in the last quarter. Finally, Merit Financial Group LLC grew its holdings in shares of Booking by 7.5% in the first quarter. Merit Financial Group LLC now owns 172 shares of the business services provider’s stock valued at $404,000 after acquiring an additional 12 shares in the last quarter. 92.42% of the stock is owned by institutional investors.

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.