Booking (NASDAQ:BKNG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Booking (NASDAQ:BKNG) had its price objective raised by Wells Fargo & Company from $4,470.00 to $5,248.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the business services provider’s stock.

Other research analysts have also issued reports about the stock. Baird R W upgraded shares of Booking to a “strong-buy” rating in a research note on Wednesday, November 27th. Royal Bank of Canada upped their target price on shares of Booking from $3,900.00 to $5,250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial upped their target price on shares of Booking from $4,100.00 to $4,700.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Cfra upgraded shares of Booking from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Finally, Oppenheimer upped their target price 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. Nine research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $5,370.43.

Booking Stock Down 0.6 %

Shares of Booking stock opened at $4,989.22 on Friday. Booking has a 52-week low of $3,180.00 and a 52-week high of $5,337.24. The company’s 50-day simple moving average is $4,903.34 and its 200-day simple moving average is $4,568.73. The firm has a market cap 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 issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $35.82 by $5.73. Booking had a net margin of 24.78% and a negative return on equity of 159.60%. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.18 billion. Equities research analysts anticipate that Booking will post 207.62 EPS for the current year.

Hedge Funds Weigh In On Booking

Several institutional investors and hedge funds have recently modified their holdings of BKNG. Proficio Capital Partners LLC lifted its stake in shares of Booking by 621,874.8% during the fourth quarter. Proficio Capital Partners LLC now owns 864,545 shares of the business services provider’s stock valued at $4,295,423,000 after buying an additional 864,406 shares during the period. Norges Bank purchased a new position in Booking during the fourth quarter worth approximately $1,958,352,000. Icon Wealth Advisors LLC raised its stake in Booking by 342,723.5% during the third quarter. Icon Wealth Advisors LLC now owns 233,120 shares of the business services provider’s stock worth $981,929,000 after purchasing an additional 233,052 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Booking by 51.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 280,629 shares of the business services provider’s stock worth $1,394,283,000 after purchasing an additional 95,308 shares during the period. Finally, Northern Trust Corp raised its stake in Booking by 18.8% during the fourth quarter. Northern Trust Corp now owns 368,628 shares of the business services provider’s stock worth $1,831,499,000 after purchasing an additional 58,357 shares during the period. Hedge funds and other 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.