Booking (NASDAQ:BKNG) Price Target Lowered to $4,698.00 at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein cut its price target on Booking from $5,407 to $4,698 and kept a "market perform" rating, implying about a 7.46% upside from the prior close.
• Analysts remain broadly positive overall — 29 buy ratings versus 7 holds — with a consensus target of $5,845.61, despite mixed target and rating revisions from other firms.
• Booking is set for a 25-1 stock split before the market opens on April 6, with newly issued shares payable after the close on April 2.

Booking (NASDAQ:BKNG - Get Free Report) had its price target reduced by analysts at Sanford C. Bernstein from $5,407.00 to $4,698.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage presently has a "market perform" rating on the business services provider's stock. Sanford C. Bernstein's target price indicates a potential upside of 7.46% from the company's previous close.

Several other analysts have also recently weighed in on BKNG. DA Davidson lowered their price objective on Booking from $6,600.00 to $6,000.00 and set a "buy" rating for the company in a research note on Thursday, February 19th. Royal Bank Of Canada restated an "outperform" rating and issued a $6,100.00 price target on shares of Booking in a research report on Thursday, February 19th. BMO Capital Markets boosted their price objective on shares of Booking from $6,000.00 to $6,200.00 and gave the stock an "outperform" rating in a research note on Thursday, February 19th. Morgan Stanley raised Booking from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $6,150.00 to $5,500.00 in a report on Monday, February 23rd. Finally, Wall Street Zen lowered shares of Booking from a "buy" rating to a "hold" rating in a research note on Saturday. Twenty-nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Booking has an average rating of "Moderate Buy" and a consensus target price of $5,845.61.

Booking Stock Down 1.6%

Shares of BKNG stock opened at $4,371.77 on Wednesday. Booking has a twelve month low of $3,765.45 and a twelve month high of $5,839.41. The business has a fifty day simple moving average of $4,731.00 and a 200 day simple moving average of $5,072.89. The company has a market cap of $138.45 billion, a P/E ratio of 26.32, a P/E/G ratio of 1.00 and a beta of 1.21.

Booking's stock is set to split before the market opens on Monday, April 6th. The 25-1 split was announced on Wednesday, February 18th. The newly minted shares will be payable to shareholders after the closing bell on Thursday, April 2nd.

Booking (NASDAQ:BKNG - Get Free Report) last issued its earnings results on Wednesday, February 18th. The business services provider reported $48.80 earnings per share for the quarter, beating analysts' consensus estimates of $47.96 by $0.84. Booking had a net margin of 20.08% and a negative return on equity of 128.99%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter last year, the business posted $41.55 earnings per share. The company's quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities research analysts anticipate that Booking will post 209.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Booking

In other news, CEO Glenn D. Fogel sold 452 shares of Booking stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $4,149.75, for a total transaction of $1,875,687.00. Following the completion of the transaction, the chief executive officer directly owned 18,543 shares in the company, valued at $76,948,814.25. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Mylod, Jr. sold 40 shares of the business's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $5,105.36, for a total value of $204,214.40. Following the sale, the director directly owned 840 shares of the company's stock, valued at $4,288,502.40. This represents a 4.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,108 shares of company stock valued at $15,287,682. Company insiders own 0.16% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC boosted its position in Booking by 150.0% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 5 shares of the business services provider's stock worth $27,000 after purchasing an additional 3 shares during the last quarter. Guerra Advisors Inc bought a new position in Booking during the third quarter valued at $27,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Booking in the third quarter valued at $26,000. Daytona Street Capital LLC purchased a new stake in Booking in the 4th quarter worth about $27,000. Finally, Legacy Bridge LLC bought a new stake in Booking in the 4th quarter valued at about $27,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

About Booking

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.

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