Booking (NASDAQ:BKNG) Stock Gets Price Target Trim from Barclays

Booking (NASDAQ:BKNG) had its price objective lowered by Barclays from $210.00 to $170.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the business services provider’s stock.

A number of other equities research analysts have also weighed in on BKNG. Argus lifted their price objective on shares of Booking from $210.00 to $245.00 and gave the company a “buy” rating in a report on Monday, August 10th. Melius Research set a $225.00 price objective on shares of Booking in a research report on Tuesday, October 20th. BMO Capital Markets restated an “outperform” rating and issued a $245.00 target price on shares of Booking in a research note on Wednesday. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $188.00 target price on shares of Booking in a research report on Wednesday, August 26th. Finally, Citizens Jmp began coverage on shares of Booking in a research report on Wednesday. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.35.

Booking Price Performance

Shares of NASDAQ:BKNG traded down $8.06 on Wednesday, hitting $160.66. 7,907,758 shares of the company’s stock were exchanged, compared to its average volume of 6,818,136. Booking has a 12 month low of $146.28 and a 12 month high of $220.81. The stock has a market capitalization of $120.72 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17. The business’s 50 day simple moving average is $166.49 and its two-hundred day simple moving average is $176.13.

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

Insider Activity

In other news, CFO Ewout L. Steenbergen sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the transaction, the chief financial officer directly owned 59,794 shares in the company, valued at approximately $12,618,327.82. This trade represents a 25.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Wittman sold 375 shares of Booking stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $211.00, for a total transaction of $79,125.00. Following the transaction, the director directly owned 16,133 shares in the company, valued at approximately $3,404,063. The trade was a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 77,425 shares of company stock valued at $16,004,164. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Booking

A number of hedge funds have recently bought and sold shares of the stock. Kapitalo Investimentos Ltda purchased a new position in shares of Booking in the 1st quarter valued at $345,000. Alesco Advisors LLC An ESL Co bought a new position in shares of Booking in the 1st quarter worth $400,000. Ascentis Independent Advisors raised its position 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 worth $488,000 after acquiring an additional 72 shares in the last quarter. Inceptionr LLC purchased a new stake in shares of Booking during the 1st quarter worth $505,000. Finally, Oslo Pensjonsforsikring AS purchased a new stake in shares of Booking during the 1st quarter worth $509,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Key Headlines Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking’s business. Its stock should benefit
• Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
• Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
• Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
• Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target

Booking Company Profile

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.