Booking's (BKNG) Market Perform Rating Reaffirmed at Citizens Jmp

Key Points

• Citizens JMP reaffirmed its Market Perform rating on Booking. Overall analyst sentiment remains more positive, with a Moderate Buy consensus and an average price target of $227.38.
• Booking reported quarterly EPS of $4.66, ahead of the $4.49 estimate, and revenue of $9.79 billion versus the $9.55 billion consensus; revenue was down 1.2% year over year.
• The company warned of slower fourth-quarter growth amid travel-demand pressures, including higher airfares and geopolitical uncertainty, tempering the earnings beat.

Booking (NASDAQ:BKNG - Get Free Report)'s stock had its "market perform" rating reiterated by equities research analysts at Citizens Jmp in a report released on Wednesday, Benzinga reports.

Several other equities research analysts also recently commented on BKNG. BMO Capital Markets restated an "outperform" rating and set a $245.00 price objective on shares of Booking in a report on Wednesday. Melius Research set a $225.00 price target on shares of Booking in a research report on Tuesday, October 20th. Argus upped their price objective on shares of Booking from $210.00 to $245.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Evercore reissued an "outperform" rating and set a $270.00 target price on shares of Booking in a research report on Monday, August 24th. Finally, DA Davidson set a $240.00 target price on shares of Booking in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Booking currently has an average rating of "Moderate Buy" and a consensus target price of $227.38.

Booking Price Performance

Shares of BKNG opened at $155.67 on Wednesday. Booking has a one year low of $146.28 and a one year high of $220.81. The company has a market cap of $116.97 billion, a PE ratio of 17.23, a P/E/G ratio of 0.96 and a beta of 1.17. The stock has a 50-day moving average of $168.99 and a 200-day moving average of $176.70.

Booking (NASDAQ:BKNG - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share for the quarter, topping analysts' consensus estimates of $4.49 by $0.17. The business had revenue of $9.79 billion for the quarter, compared to the consensus estimate of $9.55 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $99.50 EPS. Analysts expect that Booking will post 10.48 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert J. Mylod, Jr. sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 14,000 shares in the company, valued at $2,800,000. The trade was a 6.67% decrease in their position. The sale was disclosed in a filing 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, Director Vanessa Wittman sold 375 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $211.00, for a total value of $79,125.00. Following the completion of the transaction, the director directly owned 16,133 shares of the company's stock, valued at approximately $3,404,063. This represents a 2.27% 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. Insiders have sold a total of 77,425 shares of company stock valued at $16,004,164 over the last 90 days. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BKNG. BlackRock Inc. purchased a new stake in shares of Booking during the 2nd quarter valued at about $11,646,302,000. State Street Corp grew its position 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 worth $7,026,348,000 after acquiring an additional 37,999,915 shares in the last quarter. Deutsche Bank AG purchased a new position in Booking in the second quarter worth about $1,691,186,000. Bank of New York Mellon Corp bought a new stake in Booking during the second quarter worth approximately $1,370,455,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Booking by 2,525.5% during 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 valued at $1,087,597,000 after purchasing an additional 5,869,459 shares during the period. Institutional investors own 92.42% of the company's stock.

Key Headlines Impacting 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

About Booking

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.

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