Booking (NASDAQ:BKNG) Stock Price Target Cut by Bank of America

Booking (NASDAQ:BKNG) had its target price cut by investment analysts at Bank of America from $232.00 to $219.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Bank of America‘s price target would indicate a potential upside of 40.68% from the company’s current price.

BKNG has been the subject of several other reports. Citigroup reissued an “outperform” rating on shares of Booking in a report on Wednesday. BMO Capital Markets reiterated an “outperform” rating and set a $245.00 price objective on shares of Booking in a research report on Wednesday. Rosenblatt Securities dropped their target price on Booking from $245.00 to $210.00 and set a “buy” rating for the company in a report on Wednesday. Robert W. Baird set a $230.00 target price on shares of Booking in a research report on Wednesday, August 5th. Finally, Oppenheimer restated an “outperform” rating and issued a $240.00 price target (up from $215.00) on shares of Booking in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $228.53.

Booking Stock Performance

Shares of BKNG opened at $155.67 on Wednesday. Booking has a 52 week low of $146.28 and a 52 week high of $220.81. The firm has a market cap of $116.97 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17. The firm’s 50-day simple moving average is $168.99 and its 200 day simple moving average is $176.70.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.17. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The firm had revenue of $9.79 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period last year, the business posted $99.50 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities analysts forecast that Booking will post 10.48 earnings per share for the current year.

Insider Activity

In other Booking news, insider Paulo Pisano sold 3,000 shares of Booking stock in a transaction on Monday, August 31st. The stock was sold at an average price of $203.48, for a total value of $610,440.00. Following the completion of the transaction, the insider directly owned 73,400 shares of the company’s stock, valued at $14,935,432. The trade was a 3.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mylod, Jr. sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director owned 14,000 shares of the company’s stock, valued at approximately $2,800,000. The trade was a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 77,425 shares of company stock worth $16,004,164. 0.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Booking

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Booking in the second quarter valued at approximately $11,646,302,000. State Street Corp lifted its stake in Booking by 2,674.6% during the second quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock worth $7,026,348,000 after purchasing an additional 37,999,915 shares during the last quarter. Deutsche Bank AG bought a new stake in Booking during the second quarter worth $1,691,186,000. Bank of New York Mellon Corp bought a new stake in Booking during the second quarter worth $1,370,455,000. Finally, Ninety One UK Ltd boosted its holdings in shares of Booking by 1.0% in the 3rd quarter. Ninety One UK Ltd now owns 6,489,929 shares of the business services provider’s stock valued at $1,057,274,000 after purchasing an additional 64,584 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking reported adjusted Q3 EPS of $4.66, above the roughly $4.49 analyst estimate. Room nights grew 7% and adjusted EBITDA rose 9%; adjusted revenue increased 9% excluding a one-time legal-related impact. Q3 earnings call highlights
• Positive Sentiment: Management highlighted AI as an opportunity to improve travel planning and the customer experience, which could support Booking’s long-term competitiveness. Q3 earnings call highlights
• Negative Sentiment: Reported revenue fell about 1% to $8.89 billion, below analyst expectations, while profit also declined. A roughly $900 million revenue impact tied to FTC action was a major drag on the reported results. Reuters report on FTC-related revenue impact
• Negative Sentiment: Booking warned of slower Q4 growth as international travel faces pressure from Middle East conflict, higher airfares and turmoil in Europe—raising concerns that demand momentum may cool. Travel-demand headwinds
• Negative Sentiment: JPMorgan cut its price target to $205 from $248, and Barclays lowered its target to $170 from $210, signaling reduced expectations for the shares. JPMorgan target change Barclays target change

Booking Company Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.