Booking (NASDAQ:BKNG) Stock Price Target Lowered at UBS Group

Booking (NASDAQ:BKNG) had its target price dropped by equities research analysts at UBS Group from $274.00 to $265.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. UBS Group‘s price target would suggest a potential upside of 74.89% from the stock’s current price.

A number of other analysts have also weighed in on BKNG. DA Davidson set a $240.00 target price on Booking in a research note on Thursday, August 6th. Truist Financial set a $216.00 price objective on shares of Booking and gave the stock a “buy” rating in a report on Wednesday, September 30th. Evercore restated an “outperform” rating and issued a $270.00 price objective on shares of Booking in a research report on Monday, August 24th. Weiss Ratings downgraded shares of Booking from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $230.00 target price on shares of Booking in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Booking has an average rating of “Moderate Buy” and an average price target of $232.81.

Booking Stock Down 1.4%

BKNG stock traded down $2.22 during midday trading on Tuesday, reaching $151.53. 2,500,863 shares of the company’s stock traded hands, compared to its average volume of 8,091,407. The company has a 50-day simple moving average of $170.14 and a two-hundred day simple moving average of $176.96. Booking has a 1-year low of $146.28 and a 1-year high of $220.81. The company has a market cap of $113.85 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 0.93 and a beta of 1.13.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $55.40 earnings per share. Equities research analysts forecast that Booking will post 10.48 EPS for the current year.

Insiders Place Their Bets

In other Booking news, Director Vanessa Wittman sold 375 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $211.00, for a total transaction of $79,125.00. Following the completion of the sale, the director directly owned 16,133 shares of the company’s stock, valued at approximately $3,404,063. The trade was a 2.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $203.48, for a total transaction of $610,440.00. Following the transaction, the insider owned 73,400 shares in the company, valued at approximately $14,935,432. The trade was a 3.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 78,425 shares of company stock valued at $16,210,864 over the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Booking

Several institutional investors have recently modified their holdings of the business. Kapitalo Investimentos Ltda acquired a new stake in Booking during the 1st quarter worth $345,000. Alesco Advisors LLC An ESL Co acquired a new position in shares of Booking in the 1st quarter valued at $400,000. Ascentis Independent Advisors lifted its stake in shares of Booking by 163.6% in the 1st quarter. Ascentis Independent Advisors now owns 116 shares of the business services provider’s stock valued at $488,000 after purchasing an additional 72 shares during the period. Inceptionr LLC bought a new position in shares of Booking in the 1st quarter worth $505,000. Finally, Oslo Pensjonsforsikring AS bought a new position in shares of Booking in the 1st quarter worth $509,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Booking Company Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.