Booking (NASDAQ:BKNG) Price Target Raised to $5,960.00

Booking (NASDAQ:BKNG) had its target price raised by UBS Group from $5,560.00 to $5,960.00 in a report issued on Friday morning, MarketBeat reports. The firm currently has a buy rating on the business services provider’s stock.

Several other research firms also recently commented on BKNG. JPMorgan Chase & Co. raised their price objective on Booking from $5,575.00 to $5,750.00 and gave the stock an “overweight” rating in a report on Friday. Tigress Financial raised their price objective on Booking from $4,580.00 to $5,600.00 and gave the stock a “strong-buy” rating in a report on Monday, November 18th. Piper Sandler restated a “neutral” rating and set a $5,120.00 price objective (up from $4,900.00) on shares of Booking in a report on Friday. StockNews.com upgraded Booking from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, Baird R W upgraded Booking to a “strong-buy” rating in a report on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Booking presently has an average rating of “Moderate Buy” and an average target price of $5,370.43.

Booking Stock Performance

Shares of NASDAQ BKNG opened at $4,989.22 on Friday. The business’s 50 day moving average price is $4,903.34 and its 200-day moving average price is $4,568.73. Booking has a fifty-two week low of $3,180.00 and a fifty-two week high of $5,337.24. The company has a market cap of $165.13 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 1.74 and a beta of 1.39.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share for the quarter, topping the consensus estimate of $35.82 by $5.73. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.18 billion. Booking had a negative return on equity of 159.60% and a net margin of 24.78%. Sell-side analysts predict that Booking will post 207.62 earnings per share for the current year.

Institutional Trading of Booking

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. lifted its position in Booking by 16.4% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 1,876 shares of the business services provider’s stock worth $9,321,000 after acquiring an additional 264 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in shares of Booking by 55.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 931 shares of the business services provider’s stock valued at $3,921,000 after purchasing an additional 334 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Booking by 5.1% in the 4th quarter. Nordea Investment Management AB now owns 179,902 shares of the business services provider’s stock valued at $896,455,000 after purchasing an additional 8,735 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Booking by 6.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 5,869 shares of the business services provider’s stock valued at $29,160,000 after purchasing an additional 368 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Booking by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 39,597 shares of the business services provider’s stock valued at $166,787,000 after purchasing an additional 2,010 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

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.