Booking (NASDAQ:BKNG) Price Target Raised to $5,800.00

Booking (NASDAQ:BKNG) had its price target raised by Citigroup from $5,500.00 to $5,800.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Other analysts have also recently issued reports about the stock. Cfra raised shares of Booking from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. UBS Group boosted their price objective on shares of Booking from $5,560.00 to $5,960.00 and gave the company a “buy” rating in a research note on Friday. B. Riley boosted their price objective on shares of Booking from $5,700.00 to $6,000.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada boosted their price objective on shares of Booking from $3,900.00 to $5,250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Piper Sandler reissued a “neutral” rating and set a $5,120.00 price objective (up from $4,900.00) on shares of Booking in a research note on Friday. Nine research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5,370.43.

Booking Stock Performance

Shares of BKNG opened at $4,989.22 on Friday. The stock has a fifty day moving average of $4,903.34 and a two-hundred day moving average of $4,568.73. The company has a market capitalization of $165.13 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 1.74 and a beta of 1.39. Booking has a fifty-two week low of $3,180.00 and a fifty-two week high of $5,337.24.

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, beating the consensus estimate of $35.82 by $5.73. The company had revenue of $5.47 billion during 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%. As a group, equities research analysts forecast that Booking will post 207.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Booking

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Booking in the 4th quarter valued at about $25,000. New Wave Wealth Advisors LLC purchased a new position in Booking in the 4th quarter valued at about $25,000. Summit Securities Group LLC purchased a new position in Booking in the 4th quarter valued at about $30,000. Bernard Wealth Management Corp. acquired a new stake in shares of Booking in the 4th quarter valued at about $30,000. Finally, Valley National Advisers Inc. raised its stake in shares of Booking by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 6 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

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.