Bank of America Increases Booking (NASDAQ:BKNG) Price Target to $3,950.00

Booking (NASDAQ:BKNG) had its price objective raised by equities researchers at Bank of America from $3,900.00 to $3,950.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Bank of America‘s target price would suggest a potential upside of 10.42% from the stock’s previous close.

Several other research firms have also recently weighed in on BKNG. Mizuho increased their target price on shares of Booking from $3,580.00 to $4,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Wells Fargo & Company dropped their price target on shares of Booking from $3,548.00 to $3,435.00 and set an “equal weight” rating for the company in a research report on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on shares of Booking from $3,560.00 to $3,950.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. B. Riley started coverage on shares of Booking in a research report on Wednesday, April 3rd. They issued a “buy” rating and a $4,400.00 price target for the company. Finally, Oppenheimer increased their price target on shares of Booking from $3,450.00 to $4,200.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $3,823.00.

Booking Stock Performance

NASDAQ BKNG opened at $3,577.38 on Friday. The firm has a 50-day simple moving average of $3,524.43 and a 200 day simple moving average of $3,399.84. Booking has a twelve month low of $2,456.93 and a twelve month high of $3,918.00. The stock has a market cap of $121.70 billion, a PE ratio of 26.83, a PEG ratio of 1.05 and a beta of 1.40.

Booking (NASDAQ:BKNG) last released its earnings results on Thursday, May 2nd. The business services provider reported $20.39 earnings per share for the quarter, beating the consensus estimate of $14.03 by $6.36. Booking had a net margin of 21.81% and a negative return on equity of 433.49%. The business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter last year, the company earned $11.60 earnings per share. The firm’s revenue was up 16.9% on a year-over-year basis. Research analysts forecast that Booking will post 176.1 earnings per share for the current fiscal year.

Insider Activity

In other Booking news, Director Radakovich Lynn Vojvodich sold 59 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $3,700.00, for a total value of $218,300.00. Following the transaction, the director now directly owns 289 shares of the company’s stock, valued at $1,069,300. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Booking news, insider Paulo Pisano sold 300 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $3,485.00, for a total value of $1,045,500.00. Following the transaction, the insider now directly owns 4,233 shares of the company’s stock, valued at $14,752,005. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Radakovich Lynn Vojvodich sold 59 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $3,700.00, for a total transaction of $218,300.00. Following the completion of the transaction, the director now directly owns 289 shares in the company, valued at $1,069,300. The disclosure for this sale can be found here. Insiders have sold 5,483 shares of company stock valued at $18,891,445 over the last three months. 0.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Booking

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Howard Financial Services LTD. boosted its position in shares of Booking by 2.4% during the fourth quarter. Howard Financial Services LTD. now owns 129 shares of the business services provider’s stock worth $458,000 after purchasing an additional 3 shares in the last quarter. Diversified Trust Co boosted its position in shares of Booking by 0.4% during the fourth quarter. Diversified Trust Co now owns 764 shares of the business services provider’s stock worth $2,710,000 after purchasing an additional 3 shares in the last quarter. Rockland Trust Co. boosted its position in shares of Booking by 3.5% during the fourth quarter. Rockland Trust Co. now owns 88 shares of the business services provider’s stock worth $312,000 after purchasing an additional 3 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Booking by 4.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 69 shares of the business services provider’s stock worth $245,000 after purchasing an additional 3 shares in the last quarter. Finally, Bristlecone Advisors LLC boosted its position in shares of Booking by 0.3% during the first quarter. Bristlecone Advisors LLC now owns 894 shares of the business services provider’s stock worth $3,243,000 after purchasing an additional 3 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.