Booking (NASDAQ:BKNG) Price Target Raised to $4,500.00

Booking (NASDAQ:BKNG) had its price target upped by Evercore ISI from $3,800.00 to $4,500.00 in a report released on Friday morning, Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

A number of other research analysts have also recently issued reports on BKNG. UBS Group lifted their target price on shares of Booking from $4,000.00 to $4,200.00 and gave the company a buy rating in a research note on Monday, February 5th. Wells Fargo & Company reduced their price objective on Booking from $3,548.00 to $3,435.00 and set an equal weight rating on the stock in a research note on Friday, February 23rd. Barclays lowered their target price on Booking from $3,900.00 to $3,800.00 and set an overweight rating for the company in a research note on Friday, February 23rd. Royal Bank of Canada increased their price objective on shares of Booking from $3,550.00 to $3,900.00 and gave the stock an outperform rating in a report on Friday, February 23rd. Finally, Erste Group Bank reaffirmed a hold rating on shares of Booking in a research note on Wednesday, March 13th. Ten investment 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’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $3,823.00.

Booking Price Performance

Shares of NASDAQ:BKNG opened at $3,577.38 on Friday. The business’s fifty day moving average price is $3,524.43 and its two-hundred day moving average price is $3,406.68. Booking has a fifty-two week low of $2,456.93 and a fifty-two week high of $3,918.00. The stock has a market capitalization of $121.38 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 1.08 and a beta of 1.40.

Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, May 2nd. The business services provider reported $20.39 earnings per share for the quarter, topping the consensus estimate of $14.03 by $6.36. Booking had a net margin of 21.81% and a negative return on equity of 288.35%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter in the prior year, the firm earned $11.60 EPS. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. Research analysts expect that Booking will post 176.46 EPS for the current fiscal year.

Booking Dividend Announcement

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

Insider Buying and Selling at Booking

In related news, Director Radakovich Lynn Vojvodich sold 59 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 289 shares in the company, valued at $1,069,300. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Paulo Pisano sold 300 shares of Booking 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 sale, the insider now directly owns 4,233 shares in the company, valued at $14,752,005. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Radakovich Lynn Vojvodich sold 59 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $3,700.00, for a total transaction of $218,300.00. Following the transaction, the director now owns 289 shares of the company’s stock, valued at approximately $1,069,300. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,483 shares of company stock valued at $18,891,445. 0.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Booking

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Activest Wealth Management acquired a new stake in shares of Booking in the fourth quarter valued at about $25,000. Naples Money Management LLC bought a new position in Booking in the fourth quarter valued at approximately $25,000. ICA Group Wealth Management LLC acquired a new position in shares of Booking during the 4th quarter worth approximately $25,000. Valued Wealth Advisors LLC bought a new stake in shares of Booking during the 4th quarter worth approximately $28,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Booking in the 4th quarter valued at approximately $28,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

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.