Royal Bank of Canada Increases Booking (NASDAQ:BKNG) Price Target to $5,900.00

Booking (NASDAQ:BKNG) had its target price lifted by analysts at Royal Bank of Canada from $5,250.00 to $5,900.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 18.25% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Mizuho increased their price objective on shares of Booking from $5,400.00 to $6,000.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. B. Riley increased their price objective on shares of Booking from $5,700.00 to $6,000.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company increased their price objective on shares of Booking from $4,470.00 to $5,248.00 and gave the stock an “equal weight” rating in a research report on Friday. Oppenheimer increased their price objective on shares of Booking from $5,500.00 to $6,000.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Argus lowered shares of Booking from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Booking has an average rating of “Moderate Buy” and an average price target of $5,370.43.

Booking Stock Performance

Shares of BKNG stock opened at $4,989.22 on Friday. Booking has a one year low of $3,180.00 and a one year high of $5,337.24. The company has a 50 day moving average price of $4,903.34 and a 200 day moving average price of $4,559.90. The firm has a market capitalization of $165.13 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 1.74 and a beta of 1.39.

Booking (NASDAQ:BKNG) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $41.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $35.82 by $5.73. Booking had a net margin of 24.78% and a negative return on equity of 159.60%. The company had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.18 billion. As a group, equities analysts forecast that Booking will post 207.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BKNG. American Trust bought a new position in shares of Booking in the 4th quarter worth about $869,000. Ascent Group LLC lifted its position in shares of Booking by 19.9% in the 4th quarter. Ascent Group LLC now owns 193 shares of the business services provider’s stock worth $959,000 after buying an additional 32 shares during the last quarter. AlphaCore Capital LLC bought a new position in shares of Booking in the 4th quarter worth about $229,000. Mackenzie Financial Corp lifted its position in shares of Booking by 24.1% in the 4th quarter. Mackenzie Financial Corp now owns 22,065 shares of the business services provider’s stock worth $109,628,000 after buying an additional 4,280 shares during the last quarter. Finally, Forum Financial Management LP lifted its position in shares of Booking by 32.9% in the 4th quarter. Forum Financial Management LP now owns 101 shares of the business services provider’s stock worth $502,000 after buying an additional 25 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors.

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.