Bank of America Forecasts Strong Price Appreciation for Booking (NASDAQ:BKNG) Stock

Booking (NASDAQ:BKNG) had its target price increased by equities research analysts at Bank of America from $4,448.00 to $4,850.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. Bank of America‘s target price would suggest a potential upside of 1.08% from the stock’s current price.

A number of other equities analysts have also weighed in on BKNG. Piper Sandler boosted their price objective on Booking from $3,560.00 to $4,900.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com lowered shares of Booking from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. JMP Securities raised their price objective on shares of Booking from $3,950.00 to $5,000.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 15th. Jefferies Financial Group boosted their target price on shares of Booking from $4,200.00 to $4,300.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Benchmark restated a “buy” rating and set a $4,600.00 price target on shares of Booking in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $4,408.93.

Booking Trading Up 7.5 %

NASDAQ:BKNG opened at $4,797.96 on Thursday. The company has a market cap of $160.83 billion, a P/E ratio of 33.44, a P/E/G ratio of 1.44 and a beta of 1.40. Booking has a twelve month low of $2,756.13 and a twelve month high of $4,856.60. The company’s 50-day moving average price is $4,100.42 and its 200-day moving average price is $3,866.59.

Booking (NASDAQ:BKNG) last released its earnings results on Wednesday, October 30th. The business services provider reported $83.89 earnings per share for the quarter, topping analysts’ consensus estimates of $77.94 by $5.95. The business had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.63 billion. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. On average, analysts expect that Booking will post 177.29 earnings per share for the current year.

Insider Activity

In related news, insider Paulo Pisano sold 100 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the completion of the transaction, the insider now directly owns 3,787 shares of the company’s stock, valued at $14,722,379.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Booking during the 1st quarter worth $221,000. Norden Group LLC raised its stake in Booking by 38.7% in the first quarter. Norden Group LLC now owns 294 shares of the business services provider’s stock valued at $1,067,000 after buying an additional 82 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in Booking in the first quarter valued at $1,226,000. Mission Wealth Management LP lifted its holdings in Booking by 66.3% during the 1st quarter. Mission Wealth Management LP now owns 148 shares of the business services provider’s stock worth $538,000 after buying an additional 59 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. acquired a new position in shares of Booking during the 1st quarter worth about $40,000. 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.