HSBC Increases Booking (NASDAQ:BKNG) Price Target to $4,230.00

Booking (NASDAQ:BKNG) had its target price increased by equities research analysts at HSBC from $4,220.00 to $4,230.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. HSBC’s price target would suggest a potential upside of 15.57% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Evercore ISI upped their price target on Booking from $3,800.00 to $4,500.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Mizuho increased their target price on Booking from $3,580.00 to $4,250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. StockNews.com cut Booking from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Erste Group Bank reissued a “hold” rating on shares of Booking in a research note on Wednesday, March 13th. Finally, Oppenheimer increased their target price on Booking from $3,450.00 to $4,200.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Booking currently has an average rating of “Moderate Buy” and an average price target of $3,876.96.

Booking Stock Up 1.5 %

Shares of BKNG stock opened at $3,660.00 on Tuesday. The stock has a market cap of $124.18 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.08 and a beta of 1.40. The business’s fifty day moving average is $3,528.95 and its 200 day moving average is $3,418.38. Booking has a twelve month low of $2,456.93 and a twelve month high of $3,918.00.

Booking (NASDAQ:BKNG) last issued its quarterly 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. The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Booking had a negative return on equity of 288.35% and a net margin of 21.81%. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the prior year, the firm earned $11.60 earnings per share. Equities research analysts expect that Booking will post 176.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Radakovich Lynn Vojvodich sold 22 shares of Booking stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $3,437.25, for a total transaction of $75,619.50. Following the transaction, the director now owns 189 shares in the company, valued at approximately $649,640.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Booking news, CEO Glenn D. Fogel sold 4,302 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $3,422.75, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Radakovich Lynn Vojvodich sold 22 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $3,437.25, for a total value of $75,619.50. Following the sale, the director now directly owns 189 shares in the company, valued at $649,640.25. The disclosure for this sale can be found here. Insiders sold a total of 5,424 shares of company stock worth $18,673,145 over the last three months. 0.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Booking

A number of institutional investors and hedge funds have recently bought and sold shares of BKNG. LPL Financial LLC grew its position in shares of Booking by 8.8% during the third quarter. LPL Financial LLC now owns 15,301 shares of the business services provider’s stock valued at $47,188,000 after purchasing an additional 1,236 shares in the last quarter. Lowe Brockenbrough & Co. Inc. grew its position in shares of Booking by 0.6% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 4,390 shares of the business services provider’s stock valued at $13,539,000 after purchasing an additional 25 shares in the last quarter. Crestwood Advisors Group LLC grew its position in shares of Booking by 3.0% during the fourth quarter. Crestwood Advisors Group LLC now owns 16,248 shares of the business services provider’s stock valued at $57,635,000 after purchasing an additional 470 shares in the last quarter. Boston Trust Walden Corp purchased a new position in shares of Booking during the fourth quarter valued at about $24,841,000. Finally, Great Valley Advisor Group Inc. purchased a new position in shares of Booking during the fourth quarter valued at about $879,000. 92.42% of the stock is owned by institutional investors.

Booking Company Profile

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.