Booking (NASDAQ:BKNG – Get Free Report) was upgraded by research analysts at Rosenblatt Securities to a “strong-buy” rating in a report issued on Monday, Zacks reports.
Several other research firms also recently issued reports on BKNG. Benchmark lifted their price objective on Booking from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Robert W. Baird set a $230.00 target price on Booking in a research note on Wednesday, August 5th. Susquehanna restated a “positive” rating and issued a $240.00 price target on shares of Booking in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $230.00 price target on shares of Booking in a report on Wednesday, August 5th. Finally, DA Davidson set a $240.00 target price on shares of Booking in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.70.
View Our Latest Stock Analysis on BKNG
Booking Trading Down 1.7%
Booking (NASDAQ:BKNG – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same period last year, the business earned $55.40 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Booking will post 10.48 EPS for the current year.
Insider Transactions at Booking
In other Booking news, insider Paulo Pisano sold 3,000 shares of Booking stock in a transaction on Monday, August 31st. The stock was sold at an average price of $203.48, for a total transaction of $610,440.00. Following the sale, the insider owned 73,400 shares of the company’s stock, valued at $14,935,432. The trade was a 3.93% decrease in their position. The sale was disclosed in a legal 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 Robert J. Mylod, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $206.70, for a total value of $206,700.00. Following the transaction, the director owned 15,000 shares of the company’s stock, valued at $3,100,500. This trade represents a 6.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 80,550 shares of company stock worth $16,722,744 over the last quarter. Insiders own 0.17% of the company’s stock.
Hedge Funds Weigh In On Booking
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in shares of Booking by 34.9% in the fourth quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock valued at $1,249,000 after acquiring an additional 65 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in Booking during the fourth quarter worth approximately $209,000. Sivia Capital Partners LLC lifted its position in Booking by 25.0% in the second quarter. Sivia Capital Partners LLC now owns 165 shares of the business services provider’s stock worth $955,000 after purchasing an additional 33 shares during the period. Schnieders Capital Management LLC. lifted its position in Booking by 50.0% in the second quarter. Schnieders Capital Management LLC. now owns 87 shares of the business services provider’s stock worth $504,000 after purchasing an additional 29 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Booking during the 2nd quarter valued at $179,000. Institutional investors own 92.42% of the company’s stock.
Booking News Summary
Here are the key news stories impacting Booking this week:
- Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $245 price target, implying roughly 25% upside from the referenced price. The firm views Booking as the best-positioned online travel agency despite industry challenges, offering a potential catalyst for the shares. Rosenblatt sees Booking as the best-positioned online travel agency
- Positive Sentiment: Booking’s quarterly results exceeded expectations, with earnings of $2.54 per share versus a $2.43 consensus estimate and revenue of $7.35 billion versus expectations of $7.19 billion. Revenue increased 8.1% year over year, supporting the view that the company continues to benefit from travel demand.
- Positive Sentiment: Booking declared a quarterly dividend of $0.42 per share, or $1.68 annualized, representing a yield of approximately 0.9%. While modest, the payout may appeal to income-oriented investors and reflects continued shareholder returns.
- Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The comments could provide insight into demand and booking patterns, but the available report does not indicate whether the trends were favorable or unfavorable for Booking. Priceline CEO discusses travel trends
- Negative Sentiment: Booking has underperformed the broader market this year, potentially reflecting investor concerns about online travel growth or valuation. The company’s stock was reported down 6.66% year to date as of September 1, compared with an 11.65% gain for the S&P 500. Booking underperformance and Rosenblatt coverage
- Negative Sentiment: Insider Paulo Pisano sold 3,000 shares for approximately $610,440, reducing his position by 3.93%. Because the transaction occurred under a pre-arranged Rule 10b5-1 trading plan, it is a relatively weak signal of bearish conviction, but it may still create modest selling-pressure concerns. Booking insider stock sale
Booking Company Profile
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.
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