Bank of America Increases Booking (NASDAQ:BKNG) Price Target to $5,820.00

Booking (NASDAQ:BKNG) had its price target lifted by research analysts at Bank of America from $5,580.00 to $5,820.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. Bank of America‘s price objective would indicate a potential upside of 6.05% from the company’s current price.

Several other brokerages also recently issued reports on BKNG. DA Davidson upped their price target on shares of Booking from $5,005.00 to $5,800.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Erste Group Bank cut shares of Booking from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Morgan Stanley reduced their price objective on shares of Booking from $5,000.00 to $4,800.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Wall Street Zen raised shares of Booking from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. Finally, Benchmark boosted their price objective on shares of Booking from $5,000.00 to $5,900.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5,388.37.

Booking Price Performance

Shares of BKNG opened at $5,487.98 on Monday. The firm has a 50 day simple moving average of $5,028.05 and a two-hundred day simple moving average of $4,937.42. The company has a market cap of $178.58 billion, a P/E ratio of 31.72, a P/E/G ratio of 1.71 and a beta of 1.41. Booking has a one year low of $3,180.00 and a one year high of $5,639.70.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Tuesday, April 29th. The business services provider reported $24.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $17.57 by $7.24. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.58 billion. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $20.39 earnings per share. On average, analysts expect that Booking will post 209.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Booking

Institutional investors have recently made changes to their positions in the stock. Covestor Ltd raised its holdings in shares of Booking by 6.9% in the 4th quarter. Covestor Ltd now owns 31 shares of the business services provider’s stock worth $158,000 after acquiring an additional 2 shares during the last quarter. SageView Advisory Group LLC raised its holdings in shares of Booking by 1.6% in the 4th quarter. SageView Advisory Group LLC now owns 124 shares of the business services provider’s stock worth $616,000 after acquiring an additional 2 shares during the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Booking by 2.2% in the 4th quarter. Belpointe Asset Management LLC now owns 95 shares of the business services provider’s stock worth $472,000 after acquiring an additional 2 shares during the last quarter. Elequin Capital LP raised its holdings in shares of Booking by 20.0% in the 4th quarter. Elequin Capital LP now owns 12 shares of the business services provider’s stock worth $60,000 after acquiring an additional 2 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its holdings in shares of Booking by 1.2% in the 1st quarter. Fidelis Capital Partners LLC now owns 167 shares of the business services provider’s stock worth $809,000 after acquiring an additional 2 shares during the last quarter. Institutional investors and hedge funds 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.