Wells Fargo & Company Lowers Booking (NASDAQ:BKNG) Price Target to $4,470.00

Booking (NASDAQ:BKNG) had its price target dropped by stock analysts at Wells Fargo & Company from $4,657.00 to $4,470.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 7.22% from the stock’s current price.

A number of other research firms have also recently commented on BKNG. Baird R W upgraded shares of Booking to a “strong-buy” rating in a research report on Wednesday, November 27th. StockNews.com upgraded Booking from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Morgan Stanley lifted their price target on shares of Booking from $4,600.00 to $5,000.00 and gave the company an “equal weight” rating in a research note on Monday. Royal Bank of Canada increased their price objective on shares of Booking from $3,900.00 to $5,250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Argus cut shares of Booking from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Booking presently has an average rating of “Moderate Buy” and an average price target of $4,997.64.

Booking Trading Down 0.2 %

Shares of BKNG traded down $11.64 during mid-day trading on Thursday, hitting $4,818.00. 11,901 shares of the company traded hands, compared to its average volume of 203,167. The business has a 50-day moving average of $5,057.06 and a 200 day moving average of $4,363.83. The stock has a market capitalization of $159.48 billion, a price-to-earnings ratio of 32.69, a PEG ratio of 1.60 and a beta of 1.41. Booking has a one year low of $3,180.00 and a one year high of $5,337.24.

Hedge Funds Weigh In On Booking

Institutional investors have recently modified their holdings of the company. Icon Wealth Advisors LLC boosted its position in shares of Booking by 342,723.5% during the third quarter. Icon Wealth Advisors LLC now owns 233,120 shares of the business services provider’s stock valued at $981,929,000 after buying an additional 233,052 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Booking during the 3rd quarter valued at $5,322,600,000. Empirical Asset Management LLC bought a new stake in shares of Booking during the 4th quarter worth $207,089,000. Harvard Management Co. Inc. purchased a new stake in Booking during the third quarter worth about $155,427,000. Finally, 1832 Asset Management L.P. raised its position in Booking by 106.0% in the second quarter. 1832 Asset Management L.P. now owns 71,334 shares of the business services provider’s stock worth $282,590,000 after acquiring an additional 36,710 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

About Booking

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.