Booking (NASDAQ:BKNG) Price Target Raised to $3,494.00

Booking (NASDAQ:BKNG) had its target price raised by Wells Fargo & Company from $3,435.00 to $3,494.00 in a research report released on Friday, Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

BKNG has been the topic of several other research reports. Barclays decreased their target price on Booking from $3,900.00 to $3,800.00 and set an overweight rating on the stock in a research note on Friday, February 23rd. Bank of America increased their price target on shares of Booking from $3,900.00 to $3,950.00 and gave the stock a neutral rating in a research report on Friday. JMP Securities lifted their price objective on shares of Booking from $3,600.00 to $3,950.00 and gave the company a market outperform rating in a report on Monday, February 26th. Erste Group Bank reiterated a hold rating on shares of Booking in a report on Wednesday, March 13th. Finally, B. Riley initiated 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. Ten analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $3,823.00.

Booking Price Performance

Shares of BKNG stock opened at $3,577.38 on Friday. The company has a 50-day moving average of $3,524.43 and a two-hundred day moving average of $3,406.68. The firm has a market cap of $121.38 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 1.08 and a beta of 1.40. Booking has a 1-year low of $2,456.93 and a 1-year high of $3,918.00.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $20.39 earnings per share for the quarter, topping analysts’ consensus estimates of $14.03 by $6.36. Booking had a net margin of 21.81% and a negative return on equity of 288.35%. The firm 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 posted $11.60 EPS. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. Sell-side analysts anticipate that Booking will post 176.46 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were paid a $8.75 dividend. This represents a $35.00 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, March 7th. Booking’s dividend payout ratio is currently 26.25%.

Insider Activity

In other news, CEO Glenn D. Fogel sold 4,302 shares of Booking stock in a transaction on 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 transaction, 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 hyperlink. In related news, Director Radakovich Lynn Vojvodich sold 22 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $3,583.07, for a total transaction of $78,827.54. Following the transaction, the director now owns 211 shares of the company’s stock, valued at $756,027.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Glenn D. Fogel sold 4,302 shares of the company’s stock in a transaction that occurred on 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 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. Over the last ninety days, insiders sold 5,483 shares of company stock valued at $18,891,445. 0.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Activest Wealth Management purchased a new position in Booking in the 4th quarter valued at $25,000. Naples Money Management LLC acquired a new stake in shares of Booking in the 4th quarter worth $25,000. ICA Group Wealth Management LLC purchased a new stake in shares of Booking in the fourth quarter valued at about $25,000. Valued Wealth Advisors LLC acquired a new position in shares of Booking during the fourth quarter worth about $28,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Booking during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

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.