UBS Group Forecasts Strong Price Appreciation for Booking (NASDAQ:BKNG) Stock

Key Points

• UBS raised its price target on Booking to $260 (from $259) and reiterated a "buy" rating, implying roughly a 44.59% upside from the current share price.
• Booking reported a huge quarterly EPS of $48.80 vs. consensus $1.92 and revenue of $6.35B (up 16% YoY), yet the stock traded around $179.82, well below its 52‑week high of $233.58 and with a consensus analyst target of $232.68 ("Moderate Buy").
• Company insiders sold about 60,876 shares worth $10.56M in the last quarter (including CEO sales), while institutional investors own roughly 92.42% of the stock.

Booking (NASDAQ:BKNG - Get Free Report) had its price objective lifted by research analysts at UBS Group from $259.00 to $260.00 in a report released on Monday,MarketScreener reports. The brokerage currently has a "buy" rating on the business services provider's stock. UBS Group's price objective suggests a potential upside of 44.59% from the company's current price.

Other research analysts have also issued reports about the stock. TD Cowen restated a "buy" rating on shares of Booking in a research report on Thursday, February 19th. Morgan Stanley raised Booking from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $246.00 to $220.00 in a research note on Monday, February 23rd. Argus dropped their price objective on Booking from $256.00 to $188.00 and set a "buy" rating for the company in a research note on Monday, February 23rd. Oppenheimer set a $240.00 target price on Booking and gave the stock an "outperform" rating in a research report on Thursday, February 19th. Finally, Susquehanna set a $260.00 target price on Booking in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $232.68.

Booking Stock Performance

NASDAQ:BKNG traded down $0.43 during trading hours on Monday, hitting $179.82. The company's stock had a trading volume of 427,183 shares, compared to its average volume of 9,366,933. Booking has a 52-week low of $150.62 and a 52-week high of $233.58. The business's 50-day moving average is $173.10 and its two-hundred day moving average is $193.06. The company has a market capitalization of $142.39 billion, a PE ratio of 26.98, a PEG ratio of 1.03 and a beta of 1.20.

Booking (NASDAQ:BKNG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The business services provider reported $48.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.92 by $46.88. The business had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.12 billion. Booking had a net margin of 20.08% and a negative return on equity of 128.99%. The business's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 EPS. As a group, analysts predict that Booking will post 10.67 EPS for the current fiscal year.

Insider Buying and Selling at Booking

In other Booking news, CEO Glenn D. Fogel sold 16,726 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $185.36, for a total value of $3,100,331.36. Following the transaction, the chief executive officer directly owned 298,174 shares of the company's stock, valued at $55,269,532.64. This trade represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the firm's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $204.21, for a total value of $204,214.40. Following the completion of the transaction, the director directly owned 21,000 shares in the company, valued at $4,288,502.40. This trade represents a 4.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,876 shares of company stock worth $10,559,629 in the last quarter. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Booking

A number of institutional investors have recently modified their holdings of BKNG. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Booking in the 3rd quarter valued at about $26,000. Guerra Advisors Inc acquired a new stake in shares of Booking in the 3rd quarter valued at about $27,000. Daytona Street Capital LLC acquired a new stake in shares of Booking in the 4th quarter valued at about $27,000. Legacy Bridge LLC acquired a new stake in shares of Booking in the 4th quarter valued at about $27,000. Finally, Camelot Portfolios LLC acquired a new stake in shares of Booking in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 92.42% of the company's stock.

Booking Company Profile

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company's businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.

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