Booking (NASDAQ:BKNG) Price Target Raised to $3,950.00 at Bank of America

Booking (NASDAQ:BKNG) had its target price hoisted by Bank of America from $3,900.00 to $3,950.00 in a research report report published on Friday, Benzinga reports. Bank of America currently has a neutral rating on the business services provider’s stock.

Several other equities research analysts also recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Booking in a research note on Tuesday, January 9th. They set an outperform rating and a $4,150.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on Booking from $3,560.00 to $3,950.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. Mizuho lifted their target price on Booking from $3,580.00 to $4,250.00 and gave the company a buy rating in a report on Wednesday, January 17th. Susquehanna upped their price target on Booking from $3,600.00 to $4,100.00 and gave the stock a positive rating in a report on Monday, February 26th. Finally, JMP Securities increased their price target on Booking from $3,600.00 to $3,950.00 and gave the company a market outperform rating in a research report on Monday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $3,823.00.

Booking Stock Up 3.0 %

BKNG opened at $3,577.38 on Friday. Booking has a 52 week low of $2,456.93 and a 52 week high of $3,918.00. The business has a fifty day simple moving average of $3,524.43 and a 200-day simple moving average of $3,406.68. The firm has a market cap of $121.38 billion, a P/E ratio of 26.83, a P/E/G ratio of 1.08 and a beta of 1.40.

Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, May 2nd. The business services provider reported $20.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.03 by $6.36. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.25 billion. Booking had a negative return on equity of 288.35% and a net margin of 21.81%. Booking’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.60 EPS. Sell-side analysts expect that Booking will post 176.46 earnings per share for the current year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were issued a $8.75 dividend. This represents a $35.00 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, March 7th. Booking’s payout ratio is currently 26.25%.

Insider Activity

In other Booking news, CEO Glenn D. Fogel sold 4,302 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $3,422.75, for a total transaction of $14,724,670.50. Following the transaction, the chief executive officer now directly owns 33,548 shares of the company’s stock, valued at approximately $114,826,417. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Glenn D. Fogel sold 4,302 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $3,422.75, for a total transaction of $14,724,670.50. Following the completion of the sale, the chief executive officer now owns 33,548 shares in the company, valued at $114,826,417. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Radakovich Lynn Vojvodich sold 22 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $3,437.25, for a total value of $75,619.50. Following the transaction, the director now directly owns 189 shares in the company, valued at approximately $649,640.25. The disclosure for this sale can be found here. Insiders have sold 5,483 shares of company stock valued at $18,891,445 in the last ninety days. 0.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Booking

Several hedge funds have recently modified their holdings of BKNG. Geneos Wealth Management Inc. increased its stake in Booking by 9.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 895 shares of the business services provider’s stock valued at $3,247,000 after buying an additional 74 shares during the period. Team Hewins LLC increased its stake in shares of Booking by 1.7% during the first quarter. Team Hewins LLC now owns 182 shares of the business services provider’s stock worth $660,000 after acquiring an additional 3 shares during the period. Csenge Advisory Group raised its holdings in Booking by 4.7% during the first quarter. Csenge Advisory Group now owns 67 shares of the business services provider’s stock worth $243,000 after purchasing an additional 3 shares in the last quarter. Signaturefd LLC lifted its position in Booking by 23.9% in the first quarter. Signaturefd LLC now owns 270 shares of the business services provider’s stock valued at $980,000 after purchasing an additional 52 shares during the period. Finally, Catalina Capital Group LLC purchased a new stake in Booking in the 1st quarter valued at approximately $486,000. 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.