Piper Sandler Raises Booking (NASDAQ:BKNG) Price Target to $4,900.00

Booking (NASDAQ:BKNG) had its target price increased by analysts at Piper Sandler from $3,560.00 to $4,900.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 3.18% from the stock’s previous close.

A number of other brokerages have also issued reports on BKNG. Benchmark reaffirmed a “buy” rating and set a $4,600.00 price target on shares of Booking in a research report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $3,900.00 target price on shares of Booking in a report on Monday, August 5th. JMP Securities upped their target price on Booking from $3,950.00 to $5,000.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Booking from $4,275.00 to $4,105.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com downgraded shares of Booking from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Eleven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $4,680.18.

Booking Stock Up 1.6 %

BKNG opened at $4,749.11 on Thursday. Booking has a 52-week low of $2,756.39 and a 52-week high of $4,856.60. The company has a market cap of $159.19 billion, a P/E ratio of 32.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.40. The firm’s 50-day moving average price is $4,136.96 and its 200-day moving average price is $3,880.99.

Booking (NASDAQ:BKNG) last released its earnings results on Wednesday, October 30th. The business services provider reported $83.89 earnings per share for the quarter, topping the consensus estimate of $77.94 by $5.95. Booking had a net margin of 21.85% and a negative return on equity of 165.63%. The company had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.63 billion. On average, research analysts anticipate that Booking will post 177.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Paulo Pisano sold 100 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the transaction, the insider now directly owns 3,787 shares of the company’s stock, valued at approximately $14,722,379.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Booking

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BKNG. Ted Buchan & Co lifted its position in Booking by 153.1% in the third quarter. Ted Buchan & Co now owns 205 shares of the business services provider’s stock valued at $863,000 after buying an additional 124 shares during the last quarter. Troy Asset Management Ltd lifted its holdings in shares of Booking by 8.0% in the 3rd quarter. Troy Asset Management Ltd now owns 8,844 shares of the business services provider’s stock worth $37,252,000 after acquiring an additional 653 shares during the last quarter. GSG Advisors LLC acquired a new position in shares of Booking in the 3rd quarter worth approximately $201,000. Oxbow Advisors LLC boosted its position in shares of Booking by 6.3% during the 3rd quarter. Oxbow Advisors LLC now owns 979 shares of the business services provider’s stock worth $4,124,000 after purchasing an additional 58 shares during the period. Finally, Assetmark Inc. increased its holdings in Booking by 3.5% in the 3rd quarter. Assetmark Inc. now owns 1,047 shares of the business services provider’s stock valued at $4,408,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Booking Company Profile

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.