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

Booking (NASDAQ:BKNG) had its target price increased by equities research analysts at DA Davidson from $5,005.00 to $5,800.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. DA Davidson’s price target indicates a potential upside of 12.86% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Baird R W upgraded shares of Booking to a “strong-buy” rating in a report on Wednesday, November 27th. Robert W. Baird initiated coverage on shares of Booking in a research report on Wednesday, November 27th. They set an “outperform” rating and a $5,850.00 target price on the stock. B. Riley increased their target price on shares of Booking from $5,700.00 to $6,000.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com upgraded shares of Booking from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, Cantor Fitzgerald decreased their target price on shares of Booking from $5,100.00 to $4,900.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Nine analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5,272.39.

Booking Stock Performance

Booking stock traded up $120.74 during midday trading on Friday, hitting $5,138.97. 291,295 shares of the company’s stock were exchanged, compared to its average volume of 258,906. Booking has a 12-month low of $3,180.00 and a 12-month high of $5,337.24. The stock has a market cap of $170.10 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 1.77 and a beta of 1.39. The firm’s 50 day simple moving average is $4,908.11 and its 200 day simple moving average is $4,540.81.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating the consensus estimate of $35.82 by $5.73. The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Booking had a net margin of 21.85% and a negative return on equity of 166.06%. On average, equities research analysts forecast that Booking will post 181.63 EPS for the current fiscal year.

Institutional Trading of Booking

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. raised its holdings in Booking by 16.4% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 1,876 shares of the business services provider’s stock worth $9,321,000 after purchasing an additional 264 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in Booking by 55.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 931 shares of the business services provider’s stock worth $3,921,000 after purchasing an additional 334 shares during the last quarter. Nordea Investment Management AB raised its holdings in Booking by 5.1% during the 4th quarter. Nordea Investment Management AB now owns 179,902 shares of the business services provider’s stock worth $896,455,000 after purchasing an additional 8,735 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Booking by 6.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 5,869 shares of the business services provider’s stock valued at $29,160,000 after acquiring an additional 368 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Booking by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 39,597 shares of the business services provider’s stock valued at $166,787,000 after acquiring an additional 2,010 shares during the last quarter. 92.42% of the stock is owned by institutional investors.

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.