Booking (NASDAQ:BKNG) Price Target Raised to $5,250.00

Booking (NASDAQ:BKNG) had its price target increased by Royal Bank of Canada from $3,900.00 to $5,250.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 11.22% from the stock’s previous close.

Several other research firms have also recently commented on BKNG. Jefferies Financial Group upped their target price on shares of Booking from $4,200.00 to $4,300.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group increased their price objective on shares of Booking from $3,940.00 to $4,510.00 and gave the company a “neutral” rating in a report on Friday. Evercore ISI decreased their price objective on shares of Booking from $4,500.00 to $4,200.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. UBS Group increased their price objective on shares of Booking from $5,050.00 to $5,550.00 and gave the company a “buy” rating in a report on Thursday. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $3,590.00 target price on shares of Booking in a research note on Monday, October 7th. Eleven 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $4,641.07.

Booking Price Performance

Shares of NASDAQ:BKNG traded up $44.06 during trading on Friday, reaching $4,720.31. 258,565 shares of the company’s stock traded hands, compared to its average volume of 246,196. Booking has a 12 month low of $2,756.39 and a 12 month high of $4,856.60. The stock has a market capitalization of $158.22 billion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 1.45 and a beta of 1.40. The company has a 50 day moving average of $4,118.59 and a 200-day moving average of $3,872.22.

Booking (NASDAQ:BKNG) last posted its earnings results on Wednesday, October 30th. The business services provider reported $83.89 EPS for the quarter, topping the consensus estimate of $77.94 by $5.95. Booking had a net margin of 21.85% and a negative return on equity of 165.63%. The firm had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.63 billion. Equities research analysts predict that Booking will post 177.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Booking news, insider Paulo Pisano sold 100 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the completion of the transaction, the insider now directly owns 3,787 shares of the company’s stock, valued at approximately $14,722,379.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. CWA Asset Management Group LLC acquired a new position in Booking during the third quarter valued at approximately $1,007,000. Source Financial Advisors LLC acquired a new position in Booking during the third quarter valued at approximately $202,000. Fiera Capital Corp grew its holdings in Booking by 34.0% during the third quarter. Fiera Capital Corp now owns 2,461 shares of the business services provider’s stock valued at $10,366,000 after purchasing an additional 625 shares during the period. Hollencrest Capital Management grew its holdings in Booking by 3.2% during the third quarter. Hollencrest Capital Management now owns 192 shares of the business services provider’s stock valued at $809,000 after purchasing an additional 6 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in Booking during the third quarter valued at approximately $149,000. 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.