Booking (NASDAQ:BKNG – Free Report) had its price objective cut by Cantor Fitzgerald from $170.00 to $150.00 in a report published on Wednesday, Marketbeat.com reports. They currently have a neutral rating on the business services provider’s stock.
BKNG has been the subject of several other research reports. Robert W. Baird set a $230.00 target price on Booking in a research report on Wednesday, August 5th. Evercore reissued an “outperform” rating and set a $270.00 price target on shares of Booking in a research report on Monday, August 24th. BTIG Research reissued a “buy” rating and issued a $250.00 price objective on shares of Booking in a research note on Thursday, October 22nd. Weiss Ratings lowered Booking from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. Finally, TD Cowen raised Booking to a “strong-buy” rating in a research note on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $222.35.
Read Our Latest Stock Report on Booking
Booking Price Performance
Booking (NASDAQ:BKNG – Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share 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 for the quarter, compared to analysts’ expectations of $9.55 billion. During the same period in the previous year, the company posted $99.50 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Booking will post 10.48 EPS for the current fiscal year.
Insider Transactions at Booking
In other news, Director Robert J. Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director directly owned 14,000 shares of the company’s stock, valued at $2,800,000. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of Booking stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $203.48, for a total value of $610,440.00. Following the sale, the insider owned 73,400 shares of the company’s stock, valued at approximately $14,935,432. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 77,425 shares of company stock valued at $16,004,164. Corporate insiders own 0.17% of the company’s stock.
Institutional Investors Weigh In On Booking
Large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Booking during the second quarter valued at approximately $11,646,302,000. State Street Corp lifted its stake in Booking by 2,674.6% in the second quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock valued at $7,026,348,000 after acquiring an additional 37,999,915 shares during the last quarter. Deutsche Bank AG acquired a new stake in Booking in the second quarter valued at approximately $1,691,186,000. Bank of New York Mellon Corp bought a new stake in Booking in the second quarter worth approximately $1,370,455,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Booking by 2,525.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,101,866 shares of the business services provider’s stock worth $1,087,597,000 after acquiring an additional 5,869,459 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.
Key Booking News
Here are the key news stories impacting Booking this week:
- Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking’s business. Its stock should benefit
- Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
- Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
- Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
- Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target
Booking Company Profile
Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.
The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.
Booking Holdings traces its history to Priceline, which was founded in 1997.
Further Reading
- Five stocks we like better than Booking
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
- Airbnb Defied a Brutal Tech Sell-Off, But Can Its Post-Earnings Rally Last?
Receive News & Ratings for Booking Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Booking and related companies with MarketBeat.com's FREE daily email newsletter.
