Booking (NASDAQ:BKNG) Stock Gets Price Target Reduction from Cantor Fitzgerald

Booking (NASDAQ:BKNG) had its target price dropped by equities research analysts at Cantor Fitzgerald from $170.00 to $150.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Cantor Fitzgerald‘s price objective points to a potential downside of 3.64% from the stock’s current price.

BKNG has been the subject of a number of other reports. TD Cowen upgraded Booking to a “strong-buy” rating in a report on Monday, September 14th. Weiss Ratings downgraded Booking from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Piper Sandler reaffirmed a “neutral” rating and issued a $215.00 price target (up from $195.00) on shares of Booking in a research report on Wednesday, August 5th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $188.00 price objective on shares of Booking in a research note on Wednesday, August 26th. Finally, Oppenheimer reissued an “outperform” rating and set a $240.00 price objective (up from $215.00) on shares of Booking in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $228.53.

Booking Stock Up 1.2%

Shares of BKNG opened at $155.67 on Wednesday. Booking has a fifty-two week low of $146.28 and a fifty-two week high of $220.81. The firm’s 50 day moving average price is $168.99 and its 200 day moving average price is $176.70. The company has a market cap of $116.97 billion, a P/E ratio of 17.23, a PEG ratio of 0.96 and a beta of 1.17.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $4.66 EPS for the quarter, topping the consensus estimate of $4.49 by $0.17. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business had revenue of $9.79 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same quarter in the previous year, the firm posted $99.50 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts forecast that Booking will post 10.48 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Paulo Pisano sold 1,500 shares of the company’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $163.06, for a total value of $244,590.00. Following the completion of the sale, the insider directly owned 70,400 shares of the company’s stock, valued at $11,479,424. This represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 14,000 shares in the company, valued at $2,800,000. This represents a 6.67% decrease in their position. 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. In the last three months, insiders sold 77,425 shares of company stock worth $16,004,164. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Booking

Hedge funds have recently modified their holdings of the business. Accuvest Global Advisors bought a new stake in Booking in the third quarter valued at about $499,000. StoneRidge PMG Advisors LLC bought a new position in Booking during the 3rd quarter worth approximately $577,000. Hohimer Wealth Management LLC lifted its holdings in Booking by 378.4% during the 3rd quarter. Hohimer Wealth Management LLC now owns 22,117 shares of the business services provider’s stock worth $3,603,000 after buying an additional 17,494 shares during the last quarter. Carret Asset Management LLC grew its position in shares of Booking by 13.6% in the 3rd quarter. Carret Asset Management LLC now owns 4,215 shares of the business services provider’s stock worth $687,000 after acquiring an additional 505 shares in the last quarter. Finally, Family Capital Management Inc. acquired a new position in shares of Booking in the 3rd quarter worth approximately $210,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking reported adjusted Q3 EPS of $4.66, above the roughly $4.49 analyst estimate. Room nights grew 7% and adjusted EBITDA rose 9%; adjusted revenue increased 9% excluding a one-time legal-related impact. Q3 earnings call highlights
• Positive Sentiment: Management highlighted AI as an opportunity to improve travel planning and the customer experience, which could support Booking’s long-term competitiveness. Q3 earnings call highlights
• Negative Sentiment: Reported revenue fell about 1% to $8.89 billion, below analyst expectations, while profit also declined. A roughly $900 million revenue impact tied to FTC action was a major drag on the reported results. Reuters report on FTC-related revenue impact
• Negative Sentiment: Booking warned of slower Q4 growth as international travel faces pressure from Middle East conflict, higher airfares and turmoil in Europe—raising concerns that demand momentum may cool. Travel-demand headwinds
• Negative Sentiment: JPMorgan cut its price target to $205 from $248, and Barclays lowered its target to $170 from $210, signaling reduced expectations for the shares. JPMorgan target change Barclays target change

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.