Morgan Stanley cut shares of Booking (NASDAQ:BKNG) from an overweight rating to an equal weight rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. They currently have $2,050.00 target price on the business services provider’s stock, down from their prior target price of $2,100.00.

BKNG has been the topic of several other reports. Bank of America lifted their target price on Booking from $2,150.00 to $2,300.00 and gave the stock a buy rating in a report on Tuesday, November 6th. Credit Suisse Group reaffirmed an outperform rating and set a $2,240.00 target price (up from $2,100.00) on shares of Booking in a report on Tuesday, November 6th. Telsey Advisory Group began coverage on Booking in a research note on Wednesday, November 28th. They issued an outperform rating and a $2,100.00 price objective on the stock. Tigress Financial reissued a buy rating on shares of Booking in a research note on Monday, December 24th. Finally, Barclays boosted their price objective on Booking to $2,270.00 in a research note on Thursday, September 27th. They noted that the move was a valuation call. Twelve equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $2,145.76.

BKNG traded down $11.44 during midday trading on Wednesday, hitting $1,665.89. 327,009 shares of the company were exchanged, compared to its average volume of 482,338. The company has a market capitalization of $76.42 billion, a PE ratio of 21.63, a PEG ratio of 1.20 and a beta of 1.16. Booking has a 1-year low of $1,606.27 and a 1-year high of $2,228.99. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.99.

Booking (NASDAQ:BKNG) last announced its earnings results on Monday, November 5th. The business services provider reported $37.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $38.37 by ($0.59). The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.81 billion. Booking had a return on equity of 26.87% and a net margin of 19.81%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $34.43 earnings per share. Equities research analysts predict that Booking will post 89.6 EPS for the current fiscal year.

In related news, CEO Gillian Tans sold 295 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $1,803.58, for a total value of $532,056.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 882 shares of company stock valued at $1,608,773 over the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Moody National Bank Trust Division bought a new stake in Booking in the 4th quarter valued at about $53,000. LFA Lugano Financial Advisors SA bought a new stake in Booking in the 3rd quarter valued at about $109,000. Pin Oak Investment Advisors Inc. bought a new stake in Booking in the 2nd quarter valued at about $134,000. Vectors Research Management LLC bought a new stake in Booking in the 3rd quarter valued at about $154,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Booking during the 3rd quarter worth approximately $153,000. 91.91% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Booking (NASDAQ:BKNG)

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