Wells Fargo & Company Lowers Booking (NASDAQ:BKNG) Price Target to $4,567.00

Booking (NASDAQ:BKNG) had its target price reduced by investment analysts at Wells Fargo & Company from $5,248.00 to $4,567.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 9.67% from the stock’s previous close.

A number of other research analysts have also commented on BKNG. Wedbush increased their price objective on Booking from $5,000.00 to $5,500.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Morgan Stanley raised their price target on Booking from $4,600.00 to $5,000.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Barclays lifted their price objective on Booking from $5,100.00 to $5,600.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Benchmark upped their target price on shares of Booking from $5,000.00 to $5,900.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Mizuho lifted their price target 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. Ten investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5,320.38.

Booking Stock Performance

Shares of BKNG stock opened at $4,164.15 on Monday. Booking has a 52 week low of $3,180.00 and a 52 week high of $5,337.24. The stock has a market capitalization of $136.65 billion, a PE ratio of 24.06, a PEG ratio of 1.71 and a beta of 1.37. The stock’s fifty day moving average is $4,726.94 and its 200-day moving average is $4,758.36.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $41.55 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 159.34%. The firm had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.18 billion. As a group, analysts forecast that Booking will post 209.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Booking

A number of large investors have recently modified their holdings of the business. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Booking during the fourth quarter worth about $25,000. New Wave Wealth Advisors LLC bought a new stake in shares of Booking during the 4th quarter worth approximately $25,000. Summit Securities Group LLC acquired a new stake in shares of Booking in the 4th quarter valued at approximately $30,000. Bernard Wealth Management Corp. acquired a new stake in shares of Booking in the 4th quarter valued at approximately $30,000. Finally, Promus Capital LLC bought a new position in shares of Booking in the fourth quarter valued at $35,000. 92.42% of the stock is currently 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.