Booking (NASDAQ:BKNG) Price Target Raised to $5,630.00 at Truist Financial

Booking (NASDAQ:BKNG - Get Free Report) had its price objective hoisted by investment analysts at Truist Financial from $4,720.00 to $5,630.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the business services provider's stock. Truist Financial's target price points to a potential downside of 2.02% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald cut their price objective on Booking from $5,540.00 to $4,330.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Bank of America raised their price target on shares of Booking from $5,580.00 to $5,820.00 and gave the stock a "neutral" rating in a report on Monday, June 9th. Erste Group Bank lowered shares of Booking from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. B. Riley boosted their price target on shares of Booking from $6,000.00 to $6,100.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, UBS Group reduced their target price on shares of Booking from $5,960.00 to $5,557.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $5,449.44.

Booking Stock Performance

BKNG stock traded up $28.74 during midday trading on Monday, hitting $5,745.84. 43,807 shares of the stock were exchanged, compared to its average volume of 248,104. The stock has a market cap of $186.97 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 1.76 and a beta of 1.40. Booking has a fifty-two week low of $3,180.00 and a fifty-two week high of $5,839.41. The stock's 50-day moving average price is $5,448.04 and its 200-day moving average price is $4,997.21.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The business services provider reported $24.81 EPS for the quarter, beating analysts' consensus estimates of $17.57 by $7.24. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.58 billion. Booking had a negative return on equity of 143.67% and a net margin of 22.58%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $20.39 EPS. Research analysts anticipate that Booking will post 209.92 EPS for the current year.

Insider Activity at Booking

In other Booking news, CEO Glenn D. Fogel sold 1,013 shares of Booking stock in a transaction on Monday, June 16th. The shares were sold at an average price of $5,356.07, for a total value of $5,425,698.91. Following the completion of the transaction, the chief executive officer owned 27,646 shares of the company's stock, valued at approximately $148,073,911.22. The trade was a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company's stock.

Institutional Investors Weigh In On Booking

A number of hedge funds have recently added to or reduced their stakes in BKNG. Atwood & Palmer Inc. acquired a new position in shares of Booking in the second quarter valued at approximately $29,000. Summit Securities Group LLC acquired a new position in Booking during the 4th quarter valued at about $30,000. Bernard Wealth Management Corp. acquired a new position in shares of Booking in the 4th quarter worth approximately $30,000. Wealth Preservation Advisors LLC acquired a new position in shares of Booking in the first quarter worth about $28,000. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of Booking during the second quarter worth approximately $35,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Booking Company Profile

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.

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