JPMorgan Chase & Co. Issues Positive Forecast for Booking (NASDAQ:BKNG) Stock Price

Booking (NASDAQ:BKNG - Get Free Report) had its price objective raised by JPMorgan Chase & Co. from $5,360.00 to $6,000.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the business services provider's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 7.71% from the company's previous close.

A number of other research firms also recently weighed in on BKNG. Royal Bank of Canada restated an "outperform" rating and issued a $5,900.00 target price on shares of Booking in a research report on Wednesday, April 30th. BMO Capital Markets upped their target price on Booking from $5,000.00 to $5,700.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Morgan Stanley cut their target price on Booking from $5,000.00 to $4,800.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company upped their target price on Booking from $4,567.00 to $4,692.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Benchmark increased their price objective on Booking from $5,000.00 to $5,900.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5,377.33.

Booking Stock Up 0.2%

BKNG stock traded up $13.52 during midday trading on Wednesday, reaching $5,570.52. The company had a trading volume of 185,629 shares, compared to its average volume of 246,844. The stock has a 50 day moving average price of $4,952.45 and a 200 day moving average price of $4,925.27. The firm has a market capitalization of $181.26 billion, a PE ratio of 32.19, a P/E/G ratio of 1.71 and a beta of 1.42. Booking has a fifty-two week low of $3,180.00 and a fifty-two week high of $5,637.02.

Booking (NASDAQ:BKNG - Get Free Report) last issued its quarterly earnings data 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 business 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 159.34% and a net margin of 24.78%. The business's revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $20.39 earnings per share. Research analysts predict that Booking will post 209.92 EPS for the current year.

Hedge Funds Weigh In On Booking

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Booking by 1.0% in the first quarter. Vanguard Group Inc. now owns 2,956,462 shares of the business services provider's stock worth $13,620,154,000 after acquiring an additional 30,054 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of 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 worth $10,887,718,000 after acquiring an additional 2,362,892 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Booking by 621,874.8% in the fourth quarter. Proficio Capital Partners LLC now owns 864,545 shares of the business services provider's stock worth $4,295,423,000 after acquiring an additional 864,406 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Booking by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 803,125 shares of the business services provider's stock worth $3,986,244,000 after acquiring an additional 6,009 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Booking in the fourth quarter worth $1,958,352,000. 92.42% of the stock is owned by institutional investors and hedge funds.

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.