Booking (NASDAQ:BKNG) Price Target Raised to $250.00

Booking (NASDAQ:BKNGFree Report) had its price objective boosted by Benchmark from $220.00 to $250.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other brokerages have also commented on BKNG. B. Riley Financial reiterated a “buy” rating and issued a $274.00 price target (up from $264.00) on shares of Booking in a research note on Wednesday. The Goldman Sachs Group set a $215.00 price objective on shares of Booking and gave the stock a “neutral” rating in a research report on Monday, July 20th. Royal Bank Of Canada lowered their target price on shares of Booking from $244.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Truist Financial set a $242.00 target price on shares of Booking in a research report on Wednesday. Finally, Bank of America reiterated a “buy” rating and set a $234.00 price target on shares of Booking in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $234.69.

Get Our Latest Stock Report on Booking

Booking Price Performance

Booking stock opened at $214.42 on Wednesday. The stock has a market cap of $161.11 billion, a PE ratio of 23.73, a P/E/G ratio of 1.27 and a beta of 1.07. The stock’s fifty day moving average is $179.43 and its two-hundred day moving average is $176.77. Booking has a 1-year low of $150.14 and a 1-year high of $231.80.

Booking (NASDAQ:BKNGGet Free Report) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The business had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the prior year, the business posted $55.40 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts expect that Booking will post 10.33 earnings per share for the current fiscal year.

Booking Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be paid a $0.42 dividend. The ex-dividend date 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 Activity

In other news, Director Robert J. Mylod, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $206.70, for a total transaction of $206,700.00. Following the transaction, the director directly owned 15,000 shares in the company, valued at approximately $3,100,500. This trade represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of Booking stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total transaction of $10,229,375.00. Following the completion of the transaction, the vice president directly owned 425,075 shares in the company, valued at $69,572,025.25. The trade was a 12.82% 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. Over the last ninety days, insiders sold 69,625 shares of company stock valued at $11,652,075. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. RHS Financial LLC purchased a new position in shares of Booking during the second quarter worth about $282,000. Alpine Woods Capital Investors LLC purchased a new stake in Booking during the 2nd quarter valued at approximately $2,813,000. Meeder Advisory Services Inc. purchased a new stake in Booking during the 2nd quarter valued at approximately $3,884,000. Meeder Asset Management Inc. acquired a new stake in Booking during the 2nd quarter worth approximately $31,000. Finally, Tiemann Investment Advisors LLC acquired a new stake in Booking during the 2nd quarter worth approximately $219,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Booking News Roundup

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

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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.

Further Reading

Analyst Recommendations for Booking (NASDAQ:BKNG)

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