Booking (NASDAQ:BKNG) Receives “Buy” Rating from DA Davidson

Booking (NASDAQ:BKNG)‘s stock had its “buy” rating reiterated by DA Davidson in a research note issued on Wednesday,Benzinga reports. They currently have a $240.00 target price on the business services provider’s stock. DA Davidson’s target price indicates a potential upside of 38.40% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Susquehanna set a $260.00 price objective on Booking in a report on Friday, February 20th. BNP Paribas Exane dropped their price objective on Booking from $244.00 to $240.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Sanford C. Bernstein dropped their price objective on Booking from $216.28 to $187.92 and set a “market perform” rating on the stock in a report on Wednesday, March 11th. Jefferies Financial Group dropped their price objective on Booking from $224.00 to $180.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. Finally, Citigroup dropped their price objective on Booking from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Twenty-nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.73.

Booking Stock Performance

Shares of NASDAQ:BKNG opened at $173.41 on Wednesday. The company has a market cap of $5.49 billion, a P/E ratio of 1.04, a PEG ratio of 0.96 and a beta of 1.20. Booking has a one year low of $150.62 and a one year high of $233.58. The business’s 50-day simple moving average is $174.17 and its 200 day simple moving average is $196.35.

Booking (NASDAQ:BKNG) last announced its earnings results on Wednesday, February 18th. The business services provider reported $48.80 EPS for the quarter, beating the consensus estimate of $1.92 by $46.88. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.12 billion. Booking had a negative return on equity of 128.99% and a net margin of 20.08%.The company’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted $1.66 EPS. Analysts predict that Booking will post 209.92 earnings per share for the current year.

Insider Transactions at Booking

In other news, Director Robert J. Mylod, Jr. sold 1,000 shares of Booking stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $204.21, for a total value of $204,214.40. Following the completion of the transaction, the director owned 21,000 shares in the company, valued at approximately $4,288,502.40. This trade represents a 4.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vanessa Ames Wittman sold 375 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $207.65, for a total value of $77,867.25. Following the transaction, the director owned 17,175 shares of the company’s stock, valued at $3,566,320.05. This represents a 2.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 68,725 shares of company stock worth $12,571,467. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Halbert Hargrove Global Advisors LLC boosted its position in Booking by 150.0% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 5 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 3 shares during the period. Guerra Advisors Inc acquired a new position in Booking during the 3rd quarter valued at approximately $27,000. KERR FINANCIAL PLANNING Corp acquired a new position in Booking during the 3rd quarter valued at approximately $26,000. Daytona Street Capital LLC acquired a new position in Booking during the 4th quarter valued at approximately $27,000. Finally, Legacy Bridge LLC acquired a new position in Booking during the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Booking Company Profile

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.