Research analysts at Needham & Company LLC initiated coverage on shares of Booking (NASDAQ:BKNG) in a research report issued on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $2,200.00 price target on the business services provider’s stock. Needham & Company LLC’s price objective points to a potential upside of 24.14% from the stock’s current price.

A number of other equities analysts have also recently commented on BKNG. Deutsche Bank raised Booking from a “hold” rating to a “buy” rating and boosted their price target for the stock from $2,150.00 to $2,370.00 in a report on Tuesday, February 5th. Cowen boosted their price target on Booking from $2,200.00 to $2,300.00 and gave the stock a “positive” rating in a report on Thursday, February 21st. Bank of America reissued a “buy” rating and set a $2,400.00 price target (up previously from $2,300.00) on shares of Booking in a report on Tuesday, February 26th. Piper Jaffray Companies cut Booking from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $2,100.00 to $1,800.00 in a report on Thursday, February 28th. Finally, Atlantic Securities cut Booking from an “overweight” rating to a “neutral” rating in a report on Thursday, February 28th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Booking presently has a consensus rating of “Hold” and a consensus price target of $2,075.09.

NASDAQ:BKNG opened at $1,772.19 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.34. Booking has a fifty-two week low of $1,606.27 and a fifty-two week high of $2,162.91. The firm has a market cap of $77.37 billion, a PE ratio of 19.14, a P/E/G ratio of 1.40 and a beta of 1.04.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $11.17 EPS for the quarter, missing analysts’ consensus estimates of $11.26 by ($0.09). Booking had a return on equity of 48.32% and a net margin of 28.79%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the firm posted $12.34 EPS. Booking’s quarterly revenue was down 3.1% on a year-over-year basis. On average, research analysts expect that Booking will post 100.99 earnings per share for the current year.

In other news, Director Jeffrey E. Epstein sold 250 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $1,715.00, for a total value of $428,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gillian Tans sold 606 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $1,778.60, for a total value of $1,077,831.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,498 shares of company stock valued at $2,657,620. Insiders own 0.24% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Shine Investment Advisory Services Inc. increased its stake in shares of Booking by 6.4% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 100 shares of the business services provider’s stock valued at $172,000 after buying an additional 6 shares during the period. Cypress Capital Management LLC increased its stake in shares of Booking by 1.4% in the fourth quarter. Cypress Capital Management LLC now owns 422 shares of the business services provider’s stock valued at $727,000 after buying an additional 6 shares during the period. Cypress Capital Group boosted its position in shares of Booking by 2.5% during the 4th quarter. Cypress Capital Group now owns 244 shares of the business services provider’s stock valued at $420,000 after purchasing an additional 6 shares in the last quarter. Magellan Asset Management Ltd boosted its position in shares of Booking by 4.4% during the 4th quarter. Magellan Asset Management Ltd now owns 165 shares of the business services provider’s stock valued at $284,000 after purchasing an additional 7 shares in the last quarter. Finally, Good Life Advisors LLC boosted its position in shares of Booking by 6.2% during the 1st quarter. Good Life Advisors LLC now owns 138 shares of the business services provider’s stock valued at $239,000 after purchasing an additional 8 shares in the last quarter. 95.44% of the stock is owned by institutional investors.

Booking Company Profile

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.

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Analyst Recommendations for Booking (NASDAQ:BKNG)

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