Booking (NASDAQ:BKNG) Price Target Cut to $5,650.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley has lowered its price target for Booking Holdings (NASDAQ: BKNG) from $5,800 to $5,650, maintaining an "equal weight" rating, indicating only a 0.03% potential upside from its current price.
• The company's most recent earnings report showed a 16% year-over-year revenue increase with an EPS of $55.40, surpassing analysts' estimates of $50.32.
• Booking's shares are currently trading at approximately $5,648.12, with a market cap of $183.79 billion, and institutional investors hold about 92.42% of the company's stock.

Booking (NASDAQ:BKNG - Get Free Report) had its target price reduced by investment analysts at Morgan Stanley from $5,800.00 to $5,650.00 in a report released on Wednesday, Marketbeat reports. The brokerage currently has an "equal weight" rating on the business services provider's stock. Morgan Stanley's price objective points to a potential upside of 3.46% from the stock's current price.

A number of other equities analysts also recently commented on the stock. Robert W. Baird upped their price objective on shares of Booking from $5,550.00 to $5,700.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Barclays raised their price objective on shares of Booking from $5,700.00 to $6,000.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Truist Financial lifted their price objective on Booking from $4,720.00 to $5,630.00 and gave the company a "hold" rating in a report on Monday, July 14th. JPMorgan Chase & Co. lifted their price target on Booking from $5,360.00 to $6,000.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Finally, Evercore ISI raised their target price on Booking from $5,500.00 to $6,250.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5,781.04.

Booking Stock Up 1.4%

NASDAQ:BKNG traded up $74.71 during trading hours on Wednesday, reaching $5,461.00. 133,826 shares of the company's stock were exchanged, compared to its average volume of 253,865. Booking has a 1-year low of $3,180.00 and a 1-year high of $5,839.41. The firm has a market capitalization of $176.99 billion, a price-to-earnings ratio of 38.02, a P/E/G ratio of 1.55 and a beta of 1.41. The company has a 50-day moving average of $5,568.80 and a 200 day moving average of $5,077.69.

Booking (NASDAQ:BKNG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $55.40 earnings per share for the quarter, topping the consensus estimate of $50.32 by $5.08. The business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.54 billion. Booking had a net margin of 19.23% and a negative return on equity of 134.19%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $41.90 earnings per share. Research analysts forecast that Booking will post 209.92 EPS for the current fiscal year.

Insider Transactions at Booking

In related news, CEO Glenn D. Fogel sold 1,013 shares of the business's 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 transaction, the chief executive officer directly owned 26,633 shares of the company's stock, valued at approximately $151,674,935. The trade was a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BKNG. Wealth Preservation Advisors LLC bought a new position in Booking during the 1st quarter valued at $28,000. Atwood & Palmer Inc. bought a new position in shares of Booking during the second quarter worth about $29,000. Bernard Wealth Management Corp. acquired a new position in Booking in the fourth quarter worth about $30,000. Keystone Global Partners LLC bought a new stake in Booking in the first quarter valued at about $32,000. Finally, O Brien Wealth Partners LLC bought a new position in Booking during the 2nd quarter worth approximately $35,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

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.