Booking’s (BKNG) Buy Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Booking (NASDAQ:BKNG) in a research note published on Wednesday,Benzinga reports. BTIG Research currently has a $250.00 price target on the business services provider’s stock.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company set a $214.00 price target on shares of Booking and gave the company an “equal weight” rating in a report on Tuesday, June 30th. Mizuho cut their price target on shares of Booking from $230.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Jefferies Financial Group upped their price target on Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Oppenheimer reissued an “outperform” rating and issued a $215.00 price objective (down from $240.00) on shares of Booking in a research report on Wednesday, April 29th. Finally, Tigress Financial restated a “strong-buy” rating and set a $260.00 target price (up from $244.00) on shares of Booking in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.69.

Booking Trading Up 3.4%

Shares of NASDAQ BKNG opened at $214.42 on Wednesday. Booking has a 12-month low of $150.14 and a 12-month high of $231.80. The stock’s fifty day simple moving average is $179.43 and its two-hundred day simple moving average is $176.77. The stock has a market capitalization of $161.11 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.27 and a beta of 1.07.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping the consensus estimate of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The firm had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same period in the previous year, the company posted $55.40 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts predict that Booking will post 10.33 earnings per share for the current fiscal year.

Booking Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. Booking’s payout ratio is currently 18.58%.

Insider Buying and Selling at Booking

In related news, VP Peter J. Millones sold 62,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total value of $10,229,375.00. Following the sale, the vice president owned 425,075 shares in the company, valued at $69,572,025.25. This represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total transaction of $216,000.00. Following the transaction, the director directly owned 16,508 shares of the company’s stock, valued at $3,169,536. This represents a 6.38% 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. In the last 90 days, insiders have sold 69,625 shares of company stock worth $11,652,075. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. RHS Financial LLC acquired a new position in Booking during the second quarter valued at $282,000. Alpine Woods Capital Investors LLC purchased a new position in shares of Booking during the 2nd quarter valued at about $2,813,000. Meeder Advisory Services Inc. acquired a new position in shares of Booking in the 2nd quarter valued at about $3,884,000. Meeder Asset Management Inc. purchased a new stake in shares of Booking in the second quarter worth about $31,000. Finally, Tiemann Investment Advisors LLC acquired a new stake in Booking during the second quarter worth about $219,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

About Booking

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.