Booking (NASDAQ:BKNG) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Booking (NASDAQ:BKNG) had its target price hoisted by research analysts at BMO Capital Markets from $4,205.00 to $5,155.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 8.55% from the stock’s previous close.

Several other equities research analysts also recently commented on BKNG. StockNews.com downgraded shares of Booking from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial started coverage on shares of Booking in a report on Friday, September 6th. They set a “hold” rating and a $4,100.00 price target on the stock. Barclays increased their price objective on Booking from $3,900.00 to $4,500.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $3,590.00 target price on shares of Booking in a report on Monday, October 7th. Finally, Mizuho increased their price target on Booking from $4,250.00 to $4,800.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Eleven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $4,680.18.

Booking Price Performance

Shares of NASDAQ:BKNG opened at $4,749.11 on Thursday. Booking has a one year low of $2,756.39 and a one year high of $4,856.60. The company has a market cap of $159.19 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 1.45 and a beta of 1.40. The firm has a 50 day simple moving average of $4,136.96 and a 200 day simple moving average of $3,880.99.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $83.89 EPS for the quarter, beating analysts’ consensus estimates of $77.94 by $5.95. Booking had a negative return on equity of 165.63% and a net margin of 21.85%. The company had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.63 billion. As a group, analysts expect that Booking will post 177.37 EPS for the current year.

Insider Transactions at Booking

In related news, insider Paulo Pisano sold 100 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the transaction, the insider now owns 3,787 shares of the company’s stock, valued at approximately $14,722,379.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CreativeOne Wealth LLC bought a new stake in Booking during the first quarter worth $537,000. BDF Gestion bought a new stake in shares of Booking in the 2nd quarter worth $6,897,000. Gamco Investors INC. ET AL purchased a new stake in shares of Booking in the first quarter valued at about $519,000. CWM LLC lifted its position in shares of Booking by 11.8% during the second quarter. CWM LLC now owns 2,631 shares of the business services provider’s stock valued at $10,423,000 after purchasing an additional 277 shares in the last quarter. Finally, Claro Advisors LLC boosted its holdings in Booking by 16,668.9% during the third quarter. Claro Advisors LLC now owns 15,092 shares of the business services provider’s stock worth $63,569,000 after purchasing an additional 15,002 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.