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Booking (NASDAQ:BKNG) Stock Price Down 4.4% After Analyst Downgrade

Thursday, June 23, 2022 | MarketBeat

Shares of Booking Holdings Inc. (NASDAQ:BKNG - Get Rating) dropped 4.4% on Thursday after JMP Securities lowered their price target on the stock from $2,750.00 to $2,300.00. JMP Securities currently has a market outperform rating on the stock. Booking traded as low as $1,807.16 and last traded at $1,807.16. Approximately 2,701 shares changed hands during trading, a decline of 99% from the average daily volume of 372,260 shares. The stock had previously closed at $1,889.84.

A number of other analysts also recently weighed in on the company. Stifel Nicolaus dropped their target price on Booking from $2,700.00 to $2,650.00 and set a "hold" rating for the company in a research report on Thursday, February 24th. Evercore ISI boosted their price objective on shares of Booking from $2,900.00 to $3,000.00 in a report on Thursday, May 5th. Morgan Stanley upped their price target on shares of Booking from $2,660.00 to $2,820.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of Booking in a report on Friday, March 11th. They issued a "buy" rating and a $2,512.00 target price on the stock. Finally, Royal Bank of Canada boosted their target price on Booking from $2,700.00 to $2,800.00 in a research report on Thursday, May 5th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Booking presently has an average rating of "Moderate Buy" and an average target price of $2,751.31.


In other Booking news, insider Paulo Pisano sold 120 shares of the business's stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $2,100.00, for a total value of $252,000.00. Following the completion of the sale, the insider now owns 3,003 shares of the company's stock, valued at $6,306,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David I. Goulden sold 150 shares of the business's stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $2,000.13, for a total value of $300,019.50. Following the transaction, the chief financial officer now directly owns 6,269 shares of the company's stock, valued at approximately $12,538,814.97. The disclosure for this sale can be found here. Insiders sold a total of 1,403 shares of company stock worth $3,006,347 over the last 90 days. Insiders own 0.24% of the company's stock.

Several large investors have recently modified their holdings of BKNG. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Booking by 32.9% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 404 shares of the business services provider's stock worth $949,000 after purchasing an additional 100 shares during the last quarter. Offit Capital Advisors LLC grew its position in Booking by 4.9% in the first quarter. Offit Capital Advisors LLC now owns 324 shares of the business services provider's stock valued at $761,000 after purchasing an additional 15 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Booking in the 1st quarter valued at $218,000. Walleye Capital LLC increased its stake in Booking by 29.7% in the 1st quarter. Walleye Capital LLC now owns 5,358 shares of the business services provider's stock valued at $12,583,000 after buying an additional 1,227 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of Booking by 11.0% in the 1st quarter. Kestra Private Wealth Services LLC now owns 111 shares of the business services provider's stock valued at $261,000 after acquiring an additional 11 shares during the period. Institutional investors own 89.48% of the company's stock.

The firm's fifty day moving average is $2,147.18 and its 200 day moving average is $2,260.35. The firm has a market cap of $73.35 billion, a P/E ratio of 152.90, a P/E/G ratio of 1.13 and a beta of 1.18. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.72 and a current ratio of 1.72.

Booking (NASDAQ:BKNG - Get Rating) last announced its earnings results on Wednesday, May 4th. The business services provider reported $3.90 EPS for the quarter, topping the consensus estimate of ($0.14) by $4.04. Booking had a return on equity of 43.44% and a net margin of 4.16%. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the business earned ($5.26) EPS. The business's quarterly revenue was up 136.6% compared to the same quarter last year. As a group, equities research analysts forecast that Booking Holdings Inc. will post 100.71 EPS for the current year.

About Booking (NASDAQ:BKNG)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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