Booking (NASDAQ:BKNG) Receives Outperform Rating from Wedbush

Booking (NASDAQ:BKNG)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research report issued on Thursday,Benzinga reports. They presently have a $211.00 target price on the business services provider’s stock. Wedbush’s target price points to a potential upside of 15.43% from the company’s current price.

A number of other research analysts have also recently issued reports on BKNG. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Booking in a report on Thursday, June 11th. Mizuho decreased their target price on Booking from $230.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Cantor Fitzgerald reissued a “neutral” rating and issued a $175.00 target price (down from $180.00) on shares of Booking in a report on Wednesday, April 29th. TD Cowen restated a “buy” rating and issued a $230.00 price target (down from $240.00) on shares of Booking in a research report on Wednesday, April 29th. Finally, Evercore set a $245.00 price target on Booking in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $227.29.

Booking Stock Up 4.5%

NASDAQ:BKNG opened at $182.80 on Thursday. Booking has a fifty-two week low of $150.14 and a fifty-two week high of $231.80. The stock has a market cap of $141.65 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. The firm’s fifty day simple moving average is $169.30 and its 200-day simple moving average is $179.71.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.08 by $0.06. The firm had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 earnings per share. Equities analysts anticipate that Booking will post 10.43 earnings per share for the current year.

Insider Activity

In other Booking news, VP Peter J. Millones sold 62,500 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the transaction, the vice president owned 425,075 shares in the company, valued at $69,572,025.25. The trade was a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $192.00, for a total value of $216,000.00. Following the completion of the transaction, the director owned 16,050 shares of the company’s stock, valued at approximately $3,081,600. This represents a 6.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Booking

A number of institutional investors have recently made changes to their positions in BKNG. KERR FINANCIAL PLANNING Corp bought a new position in Booking during the 3rd quarter valued at $26,000. Daytona Street Capital LLC acquired a new position in Booking during the 4th quarter worth $27,000. Legacy Bridge LLC bought a new stake in shares of Booking in the 4th quarter worth about $27,000. Camelot Portfolios LLC bought a new stake in shares of Booking in the 4th quarter worth about $27,000. Finally, Osbon Capital Management LLC acquired a new stake in shares of Booking in the 4th quarter valued at about $27,000. 92.42% of the stock is owned by institutional investors and hedge funds.

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.