Booking (NASDAQ:BKNG) Price Target Raised to $5,850.00 at Bank of America

Booking (NASDAQ:BKNG - Get Free Report) had its target price boosted by investment analysts at Bank of America from $5,820.00 to $5,850.00 in a report released on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the business services provider's stock. Bank of America's target price suggests a potential upside of 3.87% from the company's previous close.

A number of other research analysts have also recently commented on BKNG. JPMorgan Chase & Co. increased their price target on shares of Booking from $5,360.00 to $6,000.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Wells Fargo & Company increased their target price on shares of Booking from $4,692.00 to $5,411.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Truist Financial boosted their price target on shares of Booking from $4,720.00 to $5,630.00 and gave the stock a "hold" rating in a research note on Monday, July 14th. BTIG Research upgraded shares of Booking from a "neutral" rating to a "buy" rating and set a $5,500.00 price target for the company in a research report on Friday, April 4th. Finally, Hsbc Global Res raised Booking to a "strong-buy" rating in a research note on Thursday, July 17th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $5,454.26.

Booking Stock Down 0.3%

Shares of NASDAQ BKNG traded down $17.73 during mid-day trading on Thursday, reaching $5,632.27. 184,789 shares of the company were exchanged, compared to its average volume of 172,500. Booking has a 52 week low of $3,180.00 and a 52 week high of $5,839.41. The company's 50 day moving average price is $5,540.17 and its 200 day moving average price is $5,042.92. The stock has a market capitalization of $183.27 billion, a PE ratio of 35.04, a PEG ratio of 1.72 and a beta of 1.40.

Booking (NASDAQ:BKNG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The business services provider reported $24.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $17.57 by $7.24. The firm had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.58 billion. Booking had a negative return on equity of 143.67% and a net margin of 22.58%. The company's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $20.39 earnings per share. On average, sell-side analysts predict that Booking will post 209.92 earnings per share for the current year.

Insider Activity

In related news, CEO Glenn D. Fogel sold 1,013 shares of Booking stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $5,695.00, for a total transaction of $5,769,035.00. Following the sale, the chief executive officer directly owned 26,633 shares in the company, valued at $151,674,935. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 3,039 shares of company stock valued at $16,963,769. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Booking

A number of institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in shares of Booking by 6.9% in the fourth quarter. Covestor Ltd now owns 31 shares of the business services provider's stock worth $158,000 after purchasing an additional 2 shares during the last quarter. SageView Advisory Group LLC increased its holdings in Booking by 1.6% in the 4th quarter. SageView Advisory Group LLC now owns 124 shares of the business services provider's stock worth $616,000 after buying an additional 2 shares during the period. Belpointe Asset Management LLC raised its position in Booking by 2.2% during the 4th quarter. Belpointe Asset Management LLC now owns 95 shares of the business services provider's stock worth $472,000 after buying an additional 2 shares during the last quarter. Elequin Capital LP lifted its stake in Booking by 20.0% during the 4th quarter. Elequin Capital LP now owns 12 shares of the business services provider's stock valued at $60,000 after acquiring an additional 2 shares during the period. Finally, Fidelis Capital Partners LLC lifted its stake in Booking by 1.2% during the 1st quarter. Fidelis Capital Partners LLC now owns 167 shares of the business services provider's stock valued at $809,000 after acquiring an additional 2 shares during the period. Institutional investors own 92.42% of the company's stock.

About Booking

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.