Booking (NASDAQ:BKNG) Given New $5,900.00 Price Target at Royal Bank of Canada

Booking (NASDAQ:BKNG) had its price objective boosted by Royal Bank of Canada from $5,250.00 to $5,900.00 in a research note issued to investors on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the business services provider’s stock.

BKNG has been the subject of a number of other research reports. Barclays lifted their target price on shares of Booking from $5,100.00 to $5,600.00 and gave the company an “overweight” rating in a research note on Friday. Piper Sandler reiterated a “neutral” rating and issued a $5,120.00 price objective (up previously from $4,900.00) on shares of Booking in a research report on Friday. StockNews.com upgraded Booking from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. JPMorgan Chase & Co. raised their target price on Booking from $5,575.00 to $5,750.00 and gave the company an “overweight” rating in a research note on Friday. Finally, B. Riley raised their price target on shares of Booking from $5,700.00 to $6,000.00 and gave the company a “buy” rating in a report on Friday. Nine research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Booking currently has an average rating of “Moderate Buy” and an average price target of $5,370.43.

Booking Price Performance

Booking stock opened at $4,989.22 on Friday. The firm has a market capitalization of $165.14 billion, a P/E ratio of 33.86, a P/E/G ratio of 1.77 and a beta of 1.39. The stock has a fifty day moving average price of $4,903.34 and a two-hundred day moving average price of $4,551.96. Booking has a 52-week low of $3,180.00 and a 52-week high of $5,337.24.

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

Institutional Investors Weigh In On Booking

Several large investors have recently modified their holdings of BKNG. Proficio Capital Partners LLC grew its position in shares of Booking by 621,874.8% in the 4th quarter. Proficio Capital Partners LLC now owns 864,545 shares of the business services provider’s stock valued at $4,295,423,000 after purchasing an additional 864,406 shares during the period. Norges Bank bought a new position in Booking in the fourth quarter valued at approximately $1,958,352,000. Icon Wealth Advisors LLC boosted its holdings in shares of Booking by 342,723.5% in the third quarter. Icon Wealth Advisors LLC now owns 233,120 shares of the business services provider’s stock valued at $981,929,000 after buying an additional 233,052 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Booking by 51.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 280,629 shares of the business services provider’s stock worth $1,394,283,000 after acquiring an additional 95,308 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Booking by 18.8% during the fourth quarter. Northern Trust Corp now owns 368,628 shares of the business services provider’s stock worth $1,831,499,000 after acquiring an additional 58,357 shares during the period. 92.42% of the stock is currently owned by 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.