Booking (NASDAQ:BKNG) Given New $5,780.00 Price Target at Truist Financial

Booking (NASDAQ:BKNG) had its price objective reduced by equities researchers at Truist Financial from $5,810.00 to $5,780.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the business services provider’s stock.

Several other research analysts also recently weighed in on BKNG. Royal Bank Of Canada restated an “outperform” rating and set a $244.00 price objective on shares of Booking in a report on Thursday, February 19th. UBS Group set a $259.40 price target on shares of Booking and gave the company a “buy” rating in a research report on Thursday, February 19th. BNP Paribas Exane cut their price target on Booking from $244.00 to $240.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Wall Street Zen downgraded Booking from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $236.80 target price on shares of Booking in a research report on Tuesday, January 27th. Twenty-nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $401.84.

Booking Stock Performance

BKNG stock opened at $171.08 on Monday. The stock’s 50 day simple moving average is $255.15 and its 200 day simple moving average is $224.62. The company has a market cap of $5.42 billion, a P/E ratio of 1.03, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. Booking has a fifty-two week low of $150.62 and a fifty-two week high of $233.58.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Wednesday, February 18th. The business services provider reported $48.80 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $46.88. Booking had a negative return on equity of 128.99% and a net margin of 20.08%.The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter last year, the firm posted $1.66 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities analysts predict that Booking will post 209.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Vanessa Ames Wittman sold 375 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $207.65, for a total transaction of $77,867.25. Following the completion of the sale, the director directly owned 17,175 shares of the company’s stock, valued at approximately $3,566,320.05. This trade represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Glenn D. Fogel sold 23,825 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $207.25, for a total value of $4,937,817.02. Following the completion of the transaction, the chief executive officer directly owned 490,375 shares in the company, valued at approximately $101,631,984.10. This represents a 4.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 68,725 shares of company stock valued at $12,571,467 in the last 90 days. 0.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Booking

Hedge funds have recently made changes to their positions in the business. Purpose Unlimited Inc. bought a new stake in Booking in the fourth quarter worth about $1,339,000. Cornerstone Planning LLC bought a new stake in shares of Booking in the 4th quarter worth approximately $536,000. Rockefeller Capital Management L.P. lifted its stake in Booking by 13.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,327 shares of the business services provider’s stock valued at $17,820,000 after purchasing an additional 398 shares during the last quarter. Osbon Capital Management LLC purchased a new position in Booking in the fourth quarter valued at approximately $27,000. Finally, World Investment Advisors grew its holdings in Booking by 8.6% during the fourth quarter. World Investment Advisors now owns 3,065 shares of the business services provider’s stock valued at $16,412,000 after purchasing an additional 244 shares during the period. 92.42% of the stock is currently owned by institutional investors.

Booking Company Profile

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.