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

Booking (NASDAQ:BKNG) had its price objective lowered by equities research analysts at Wells Fargo & Company from $5,248.00 to $4,567.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 7.65% from the stock’s current price.

Several other brokerages have also recently issued reports on BKNG. Benchmark upped their target price on Booking from $5,000.00 to $5,900.00 and gave the company a “buy” rating in a report on Friday, February 21st. Cfra upgraded shares of Booking from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. B. Riley upped their price objective on Booking from $5,700.00 to $6,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Barclays raised their target price on Booking from $5,100.00 to $5,600.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Cantor Fitzgerald upped their price target on Booking from $4,900.00 to $5,540.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5,351.41.

Booking Price Performance

NASDAQ BKNG traded down $41.38 during mid-day trading on Monday, hitting $4,242.64. The stock had a trading volume of 390,384 shares, compared to its average volume of 243,758. Booking has a twelve month low of $3,180.00 and a twelve month high of $5,337.24. The firm’s 50 day moving average is $4,757.12 and its 200 day moving average is $4,760.24. The stock has a market capitalization of $139.22 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.71 and a beta of 1.37.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share for the quarter, topping the consensus estimate of $35.82 by $5.73. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.18 billion. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. As a group, equities research analysts expect that Booking will post 209.92 earnings per share for the current year.

Institutional Investors Weigh In On Booking

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Booking by 521,609.7% during the 1st quarter. GAMMA Investing LLC now owns 2,363,345 shares of the business services provider’s stock worth $10,887,718,000 after purchasing an additional 2,362,892 shares during the period. Howard Financial Services LTD. grew its holdings in Booking by 2.3% during the first quarter. Howard Financial Services LTD. now owns 134 shares of the business services provider’s stock worth $617,000 after acquiring an additional 3 shares during the period. Quent Capital LLC raised its position in Booking by 3.4% in the first quarter. Quent Capital LLC now owns 153 shares of the business services provider’s stock worth $706,000 after acquiring an additional 5 shares in the last quarter. Legacy Private Trust Co. acquired a new stake in Booking in the first quarter valued at $1,534,000. Finally, Capital Market Strategies LLC boosted its position in shares of Booking by 3.3% during the 1st quarter. Capital Market Strategies LLC now owns 124 shares of the business services provider’s stock worth $571,000 after purchasing an additional 4 shares in 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.