JPMorgan Chase & Co. Increases Booking (NASDAQ:BKNG) Price Target to $5,750.00

Booking (NASDAQ:BKNG) had its target price increased by JPMorgan Chase & Co. from $5,575.00 to $5,750.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Argus downgraded shares of Booking from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Wells Fargo & Company dropped their target price on shares of Booking from $4,657.00 to $4,470.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Cfra upgraded shares of Booking from a “hold” rating to a “buy” rating in a research note on Tuesday. Truist Financial boosted their price target on Booking from $4,100.00 to $4,700.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Finally, Susquehanna raised their price objective on Booking from $4,100.00 to $5,500.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Nine analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Booking currently has a consensus rating of “Moderate Buy” and a consensus price target of $5,370.43.

Booking Price Performance

Booking stock opened at $4,989.22 on Friday. The company has a market cap of $165.14 billion, a price-to-earnings ratio of 33.86, a P/E/G ratio of 1.77 and a beta of 1.39. The firm has a 50-day moving average of $4,903.34 and a 200-day moving average of $4,551.96. Booking has a one year low of $3,180.00 and a one year high of $5,337.24.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating the consensus estimate of $35.82 by $5.73. The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Booking had a negative return on equity of 166.06% and a net margin of 21.85%. As a group, sell-side analysts expect that Booking will post 181.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Booking during the fourth quarter worth about $25,000. New Wave Wealth Advisors LLC bought a new stake in shares of Booking during the 4th quarter worth approximately $25,000. Summit Securities Group LLC acquired a new stake in shares of Booking during the 4th quarter worth approximately $30,000. Bernard Wealth Management Corp. bought a new position in Booking in the fourth quarter valued at approximately $30,000. Finally, Promus Capital LLC acquired a new position in Booking during the fourth quarter valued at approximately $35,000. Institutional investors own 92.42% of the company’s stock.

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.