Royal Bank Of Canada Increases Booking (NASDAQ:BKNG) Price Target to $6,100.00

Key Points

• Royal Bank of Canada has raised its price target for Booking Holdings (NASDAQ:BKNG) from $5,900.00 to $6,100.00, suggesting a potential upside of 9.38% from the current stock price.
• Booking's stock received multiple upgrades from various analysts, with Barclays setting a target of $6,000.00 and Robert W. Baird adjusting their price objective to $5,700.00, reflecting a positive outlook for the company.
• Booking reported a quarterly earnings per share of $55.40, exceeding estimates, and had a revenue of $6.80 billion, showing a 16.0% year-over-year increase.

Booking (NASDAQ:BKNG - Free Report) had its price objective increased by Royal Bank Of Canada from $5,900.00 to $6,100.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the business services provider's stock.

BKNG has been the topic of a number of other research reports. Wall Street Zen raised shares of Booking from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Barclays increased their price objective on shares of Booking from $5,700.00 to $6,000.00 and gave the stock an "overweight" rating in a report on Wednesday. Truist Financial boosted their price objective on Booking from $4,720.00 to $5,630.00 and gave the stock a "hold" rating in a research report on Monday, July 14th. Wells Fargo & Company boosted their price objective on Booking from $5,411.00 to $5,418.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Robert W. Baird boosted their price objective on Booking from $5,550.00 to $5,700.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Eleven analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Booking has an average rating of "Moderate Buy" and a consensus target price of $5,781.04.

Booking Price Performance

Shares of NASDAQ:BKNG traded down $52.63 during midday trading on Wednesday, reaching $5,451.43. The company had a trading volume of 44,607 shares, compared to its average volume of 253,645. The stock's fifty day moving average price is $5,567.73 and its 200-day moving average price is $5,070.33. The stock has a market capitalization of $176.68 billion, a P/E ratio of 37.91, a PEG ratio of 1.68 and a beta of 1.40. Booking has a one year low of $3,180.00 and a one year high of $5,839.41.

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

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $9.60 per share. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.7%. Booking's dividend payout ratio is currently 23.89%.

Insider Activity at Booking

In related news, CEO Glenn D. Fogel sold 1,013 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $5,695.00, for a total value of $5,769,035.00. Following the completion of the transaction, the chief executive officer owned 26,633 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this link. Insiders sold a total of 3,039 shares of company stock valued at $16,963,769 in the last quarter. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BKNG. GAMMA Investing LLC grew its position in Booking by 521,609.7% in the first quarter. GAMMA Investing LLC now owns 2,363,345 shares of the business services provider's stock valued at $10,887,718,000 after acquiring an additional 2,362,892 shares during the last quarter. Pacer Advisors Inc. grew its position in Booking by 1,411.9% in the first quarter. Pacer Advisors Inc. now owns 112,201 shares of the business services provider's stock valued at $516,900,000 after acquiring an additional 104,780 shares during the last quarter. AQR Capital Management LLC grew its position in Booking by 79.4% in the first quarter. AQR Capital Management LLC now owns 154,206 shares of the business services provider's stock valued at $695,259,000 after acquiring an additional 68,243 shares during the last quarter. TD Asset Management Inc grew its position in Booking by 182.2% in the first quarter. TD Asset Management Inc now owns 104,643 shares of the business services provider's stock valued at $482,081,000 after acquiring an additional 67,562 shares during the last quarter. Finally, Northern Trust Corp grew its position in Booking by 18.8% in the fourth quarter. Northern Trust Corp now owns 368,628 shares of the business services provider's stock valued at $1,831,499,000 after acquiring an additional 58,357 shares during the last quarter. Institutional investors own 92.42% of the company's stock.

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.