Tigress Financial Issues Positive Forecast for Booking (NASDAQ:BKNG) Stock Price

Booking (NASDAQ:BKNG) had its price objective upped by Tigress Financial from $244.00 to $260.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “strong-buy” rating on the business services provider’s stock. Tigress Financial’s target price would suggest a potential upside of 44.11% from the company’s current price.

Other equities research analysts also recently issued reports about the company. DA Davidson restated a “buy” rating and set a $240.00 price objective on shares of Booking in a report on Wednesday. HSBC restated a “buy” rating and set a $309.84 price objective on shares of Booking in a report on Thursday, February 19th. BNP Paribas Exane dropped their target price on shares of Booking from $244.00 to $240.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Booking in a research report on Monday, December 29th. Finally, KeyCorp dropped their target price on shares of Booking from $260.00 to $237.40 and set an “overweight” rating for the company in a research report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $234.50.

Booking Price Performance

Booking stock traded up $7.00 during midday trading on Wednesday, hitting $180.41. 6,428,232 shares of the stock were exchanged, compared to its average volume of 10,037,948. Booking has a 1 year low of $150.62 and a 1 year high of $233.58. The firm has a market cap of $5.71 billion, a P/E ratio of 1.09, a P/E/G ratio of 0.96 and a beta of 1.20. The company has a 50 day moving average price of $174.17 and a two-hundred day moving average price of $196.35.

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

Insider Activity at Booking

In related news, Director Robert J. Mylod, Jr. sold 1,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $204.21, for a total transaction of $204,214.40. Following the completion of the sale, the director owned 21,000 shares of the company’s stock, valued at $4,288,502.40. This represents a 4.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Glenn D. Fogel sold 16,725 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $171.68, for a total transaction of $2,871,414.90. Following the sale, the chief executive officer directly owned 314,900 shares of the company’s stock, valued at approximately $54,063,291.60. This represents a 5.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 68,725 shares of company stock valued at $12,571,467 in the last quarter. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Purpose Unlimited Inc. bought a new position in Booking in the 4th quarter worth about $1,339,000. Cornerstone Planning LLC bought a new position in Booking in the 4th quarter worth about $536,000. Rockefeller Capital Management L.P. grew its position in Booking by 13.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,327 shares of the business services provider’s stock worth $17,820,000 after purchasing an additional 398 shares during the last quarter. Osbon Capital Management LLC bought a new position in Booking in the 4th quarter worth about $27,000. Finally, World Investment Advisors grew its position in Booking by 8.6% in the 4th quarter. World Investment Advisors now owns 3,065 shares of the business services provider’s stock worth $16,412,000 after purchasing an additional 244 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors.

About Booking

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.