Booking (NASDAQ:BKNG) Stock Gets Price Target Reduction from Royal Bank Of Canada

Booking (NASDAQ:BKNG) had its price target reduced by Royal Bank Of Canada from $220.00 to $205.00 in a research report sent to investors on Wednesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the business services provider’s stock.

A number of other research firms have also weighed in on BKNG. TD Cowen upgraded shares of Booking to a “strong-buy” rating in a research note on Monday, September 14th. B. Riley Financial dropped their target price on shares of Booking from $274.00 to $265.00 and set a “buy” rating on the stock in a research note on Wednesday. Robert W. Baird set a $230.00 target price on shares of Booking in a research note on Wednesday, August 5th. Weiss Ratings cut shares of Booking from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 30th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $188.00 price target on shares of Booking in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Booking has a consensus rating of “Moderate Buy” and an average price target of $222.35.

Booking Price Performance

Booking stock traded down $8.06 during mid-day trading on Wednesday, hitting $160.66. The company’s stock had a trading volume of 7,907,758 shares, compared to its average volume of 6,818,136. The stock has a market cap of $120.72 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17. The business has a 50 day moving average price of $166.49 and a 200-day moving average price of $176.13. Booking has a 12 month low of $146.28 and a 12 month high of $220.81.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.17. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business had revenue of $9.79 billion during the quarter, compared to analyst estimates of $9.55 billion. During the same period in the prior year, the business posted $99.50 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts expect that Booking will post 10.48 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ewout L. Steenbergen sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the completion of the transaction, the chief financial officer directly owned 59,794 shares of the company’s stock, valued at $12,618,327.82. The trade was a 25.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $203.48, for a total transaction of $610,440.00. Following the transaction, the insider owned 73,400 shares in the company, valued at approximately $14,935,432. This trade represents a 3.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 77,425 shares of company stock valued at $16,004,164 over the last three months. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Booking

A number of hedge funds have recently added to or reduced their stakes in BKNG. AlpenGlobal Capital LLC lifted its holdings in shares of Booking by 8.4% during the 3rd quarter. AlpenGlobal Capital LLC now owns 19,849 shares of the business services provider’s stock valued at $3,234,000 after buying an additional 1,544 shares during the period. BCV Asset Management Inc. boosted its stake in shares of Booking by 4.7% in the 3rd quarter. BCV Asset Management Inc. now owns 46,918 shares of the business services provider’s stock worth $7,674,000 after buying an additional 2,087 shares during the last quarter. ProVise Management Group LLC grew its holdings in shares of Booking by 2.7% in the third quarter. ProVise Management Group LLC now owns 90,843 shares of the business services provider’s stock worth $14,799,000 after acquiring an additional 2,349 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Booking by 1.9% in the third quarter. Russell Investments Group Ltd. now owns 2,288,307 shares of the business services provider’s stock worth $372,609,000 after acquiring an additional 42,348 shares during the period. Finally, R Squared Ltd purchased a new stake in Booking during the third quarter valued at $231,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking’s business. Its stock should benefit
• Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
• Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
• Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
• Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target

About Booking

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.