Truist Financial Has Lowered Expectations for Booking (NASDAQ:BKNG) Stock Price

Booking (NASDAQ:BKNG) had its price target decreased by Truist Financial from $5,810.00 to $5,780.00 in a report issued on Monday,MarketScreener reports. The firm currently has a “buy” rating on the business services provider’s stock.

Several other equities analysts have also recently commented on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $236.80 target price on shares of Booking in a research report on Tuesday, January 27th. Gordon Haskett cut their target price on Booking from $217.60 to $214.80 and set a “buy” rating for the company in a research note on Thursday, February 19th. Wedbush decreased their price target on Booking from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Susquehanna set a $260.00 price objective on Booking in a research report on Friday, February 20th. Finally, Mizuho raised Booking from a “neutral” rating to an “outperform” rating and set a $240.00 price objective on the stock in a research note on Wednesday, February 4th. Twenty-nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $401.84.

Booking Trading Up 2.0%

Booking stock opened at $171.08 on Monday. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 1.03, a PEG ratio of 0.96 and a beta of 1.20. Booking has a 12 month low of $150.62 and a 12 month high of $233.58. The stock’s 50 day moving average is $255.15 and its 200-day moving average is $224.62.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Wednesday, February 18th. The business services provider reported $48.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $46.88. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.12 billion. Booking had a negative return on equity of 128.99% and a net margin of 20.08%.The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.66 EPS. As a group, equities research analysts predict that Booking will post 209.92 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Glenn D. Fogel sold 16,725 shares of Booking stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $171.68, for a total transaction of $2,871,414.90. Following the sale, the chief executive officer directly owned 314,900 shares in the company, valued at $54,063,291.60. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vanessa Ames Wittman sold 375 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $207.65, for a total transaction of $77,867.25. Following the sale, the director directly owned 17,175 shares in the company, valued at $3,566,320.05. The trade was a 2.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 68,725 shares of company stock valued at $12,571,467. 0.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Booking

Several institutional investors have recently modified their holdings of the business. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Booking in the 3rd quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC lifted its holdings in Booking by 150.0% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 5 shares of the business services provider’s stock valued at $27,000 after buying an additional 3 shares during the period. Guerra Advisors Inc bought a new stake in Booking during the third quarter valued at $27,000. Daytona Street Capital LLC bought a new stake in Booking during the fourth quarter valued at $27,000. Finally, Legacy Bridge LLC acquired a new stake in Booking during the 4th quarter worth about $27,000. Institutional investors own 92.42% of the company’s stock.

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.