Booking (NASDAQ:BKNG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The brokerage presently has a $1,434.00 target price on the business services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 1.99% from the company’s current price.
According to Zacks, “Booking Holdings is benefiting from expanding alternative accommodation business. This bodes well for its growing footprint in both international as well as domestic regions. Further, the company’s strong efforts toward ramping up the merchant business are major positives. Additionally, Booking Holdings’ expanding payment platform is acting as a tailwind. Further, growing usage of mobile by travelers for their travel planning is another positive. Also, integration with Rentalcars.com has started benefiting the company. Additionally, strengthening flight capabilities are contributing well. However, continued softness in agency business remains a headwind. Further, the company has withdrawn its guidance for the current quarter due to coronavirus led disruptions in the travel space. The stock has underperformed its industry over a year.”
Other equities research analysts have also recently issued research reports about the company. JMP Securities reissued an “outperform” rating and set a $2,300.00 target price on shares of Booking in a report on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on Booking from $1,840.00 to $1,540.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Wedbush dropped their price target on Booking from $2,000.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Cowen dropped their price target on Booking from $2,000.00 to $1,650.00 and set an “outperform” rating on the stock in a report on Monday, March 9th. They noted that the move was a valuation call. Finally, TheStreet cut Booking from a “b-” rating to a “c” rating in a report on Thursday, March 12th. Seventeen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $1,904.08.
Booking (NASDAQ:BKNG) last announced its earnings results on Wednesday, February 26th. The business services provider reported $23.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $22.11 by $1.19. Booking had a return on equity of 74.06% and a net margin of 32.29%. The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the previous year, the company earned $22.49 earnings per share. Sell-side analysts forecast that Booking will post 70.64 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Colony Group LLC grew its position in shares of Booking by 3.5% in the 3rd quarter. Colony Group LLC now owns 1,429 shares of the business services provider’s stock valued at $2,805,000 after acquiring an additional 48 shares during the period. UMA Financial Services Inc. purchased a new position in shares of Booking during the third quarter worth approximately $328,000. Voya Financial Advisors Inc. raised its stake in shares of Booking by 6.3% during the third quarter. Voya Financial Advisors Inc. now owns 4,403 shares of the business services provider’s stock worth $8,558,000 after acquiring an additional 261 shares in the last quarter. Virtu Financial LLC raised its stake in shares of Booking by 47.3% during the third quarter. Virtu Financial LLC now owns 673 shares of the business services provider’s stock worth $1,321,000 after acquiring an additional 216 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Booking by 30.1% during the third quarter. Stifel Financial Corp now owns 12,801 shares of the business services provider’s stock worth $25,298,000 after acquiring an additional 2,964 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.
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.
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