Booking (NASDAQ:BKNG) Price Target Raised to $245.00
by Amy Steele · The Cerbat GemBooking (NASDAQ:BKNG – Free Report) had its target price lifted by Argus from $210.00 to $245.00 in a report released on Monday morning, MarketBeat.com reports. They currently have a buy rating on the business services provider’s stock.
BKNG has been the subject of a number of other research reports. TD Cowen reissued a “buy” rating and issued a $230.00 price objective (down from $240.00) on shares of Booking in a research report on Wednesday, April 29th. Mizuho set a $240.00 target price on Booking in a research report on Wednesday, August 5th. B. Riley Financial reiterated a “buy” rating and issued a $274.00 price target (up from $264.00) on shares of Booking in a research note on Wednesday, August 5th. BMO Capital Markets reissued an “outperform” rating and issued a $250.00 price target (up from $240.00) on shares of Booking in a report on Wednesday, August 5th. Finally, Bank of America restated a “buy” rating and set a $234.00 price target on shares of Booking in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.72.
Check Out Our Latest Stock Analysis on BKNG
Booking Stock Down 0.3%
NASDAQ:BKNG opened at $212.26 on Monday. Booking has a 52 week low of $150.14 and a 52 week high of $231.80. The firm has a 50 day moving average of $182.16 and a 200 day moving average of $176.92. The stock has a market capitalization of $159.49 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 1.28 and a beta of 1.07.
Booking (NASDAQ:BKNG – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.11. The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $55.40 earnings per share. As a group, analysts expect that Booking will post 10.47 EPS for the current year.
Booking Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be paid a $0.42 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. Booking’s dividend payout ratio (DPR) is 18.58%.
Insiders Place Their Bets
In other news, Director Robert J. Mylod, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $206.70, for a total value of $206,700.00. Following the transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately $3,100,500. This represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total value of $10,229,375.00. Following the completion of the transaction, the vice president owned 425,075 shares of the company’s stock, valued at approximately $69,572,025.25. The trade was a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 69,625 shares of company stock valued at $11,652,075. 0.17% of the stock is owned by company insiders.
Hedge Funds Weigh In On Booking
Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Booking in the 2nd quarter valued at $11,646,302,000. Deutsche Bank AG purchased a new position in shares of Booking during the second quarter worth $1,691,186,000. Bank of New York Mellon Corp acquired a new position in Booking during the second quarter valued at $1,370,455,000. Vanguard Group Inc. lifted its position in Booking by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 2,997,949 shares of the business services provider’s stock valued at $16,055,006,000 after purchasing an additional 23,159 shares during the period. Finally, J. Stern & Co. LLP lifted its position 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 valued at $15,171,489,000 after purchasing an additional 2,831,495 shares during the period. Institutional investors and hedge funds own 92.42% of the company’s stock.
About Booking
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.
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