DA Davidson Lowers Booking (NASDAQ:BKNG) Price Target to $6,000.00

Booking (NASDAQ:BKNGGet Free Report) had its price objective lowered by DA Davidson from $6,600.00 to $6,000.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. DA Davidson’s price target would suggest a potential upside of 40.52% from the stock’s current price.

Other analysts have also recently issued reports about the company. Morgan Stanley set a $6,150.00 price target on Booking in a research report on Wednesday, October 29th. BMO Capital Markets increased their target price on Booking from $6,000.00 to $6,200.00 and gave the stock an “outperform” rating in a research report on Thursday. Cantor Fitzgerald raised their target price on Booking from $5,550.00 to $5,830.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Rothschild & Co Redburn upped their price target on shares of Booking from $6,250.00 to $6,400.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Jefferies Financial Group reduced their target price on shares of Booking from $5,800.00 to $5,600.00 and set a “hold” rating for the company in a research note on Friday, January 23rd. Twenty-six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6,135.63.

Read Our Latest Stock Analysis on BKNG

Booking Price Performance

Booking stock opened at $4,269.99 on Thursday. The stock has a market capitalization of $137.62 billion, a P/E ratio of 27.75, a P/E/G ratio of 0.89 and a beta of 1.21. Booking has a 12-month low of $4,020.54 and a 12-month high of $5,839.41. The firm’s 50-day moving average is $5,057.50 and its two-hundred day moving average is $5,201.54.

Booking’s stock is scheduled to split on the morning of Monday, April 6th. The 25-1 split was announced on Wednesday, February 18th. The newly issued shares will be payable to shareholders after the market closes on Thursday, April 2nd.

Booking (NASDAQ:BKNGGet Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The business services provider reported $48.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $47.96 by $0.84. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Booking had a net margin of 19.37% and a negative return on equity of 134.86%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $41.55 EPS. As a group, analysts forecast that Booking will post 209.92 EPS for the current year.

Insider Activity

In related news, CEO Glenn D. Fogel sold 550 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $4,093.72, for a total value of $2,251,546.00. Following the completion of the sale, the chief executive officer directly owned 18,995 shares in the company, valued at approximately $77,760,211.40. This represents a 2.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert J. Mylod, Jr. sold 40 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $5,105.36, for a total value of $204,214.40. Following the transaction, the director owned 840 shares in the company, valued at approximately $4,288,502.40. This trade represents a 4.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,108 shares of company stock worth $15,287,682 in the last three months. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Booking

Hedge funds and other institutional investors have recently made changes to their positions in the business. J. Stern & Co. LLP lifted its stake in Booking by 191,965.8% during the fourth quarter. J. Stern & Co. LLP now owns 2,832,970 shares of the business services provider’s stock worth $15,171,489,000 after purchasing an additional 2,831,495 shares during the period. Norges Bank bought a new position in shares of Booking during the 4th quarter worth approximately $3,271,041,000. Laurel Wealth Advisors LLC boosted its stake in Booking by 578,824.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 289,462 shares of the business services provider’s stock valued at $1,675,765,000 after buying an additional 289,412 shares in the last quarter. HF Advisory Group LLC boosted its stake in Booking by 28,353.8% in the 4th quarter. HF Advisory Group LLC now owns 204,298 shares of the business services provider’s stock valued at $1,094,083,000 after buying an additional 203,580 shares in the last quarter. Finally, Cardano Risk Management B.V. grew its position in Booking by 862.0% in the fourth quarter. Cardano Risk Management B.V. now owns 218,080 shares of the business services provider’s stock valued at $1,167,890,000 after acquiring an additional 195,411 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

More Booking News

Here are the key news stories impacting Booking this week:

About Booking

(Get Free Report)

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.

See Also

Analyst Recommendations for Booking (NASDAQ:BKNG)

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