Booking (NASDAQ:BKNG) Price Target Raised to $220.00

Booking (NASDAQ:BKNG) had its price objective raised by Cantor Fitzgerald from $175.00 to $220.00 in a research note published on Wednesday morning, MarketBeat reports. The firm currently has a neutral rating on the business services provider’s stock.

BKNG has been the topic of several other research reports. Evercore set a $245.00 target price on shares of Booking in a report on Wednesday, April 29th. Robert W. Baird lowered their price target on Booking from $234.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. BMO Capital Markets restated an “outperform” rating and set a $250.00 price objective (up from $240.00) on shares of Booking in a research note on Wednesday. Gordon Haskett boosted their price target on Booking from $217.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, TD Cowen restated a “buy” rating and issued a $230.00 price target (down from $240.00) on shares of Booking in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.69.

Booking Price Performance

Booking stock opened at $214.42 on Wednesday. Booking has a 12 month low of $150.14 and a 12 month high of $231.80. The company has a market cap of $161.11 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 1.27 and a beta of 1.07. The stock’s 50-day moving average is $179.43 and its 200-day moving average is $176.77.

Booking (NASDAQ:BKNG) last posted its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. The firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $55.40 EPS. Research analysts anticipate that Booking will post 10.33 EPS for the current year.

Booking Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. Booking’s dividend payout ratio is currently 18.58%.

Insider Buying and Selling at Booking

In other Booking news, VP Peter J. Millones sold 62,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $163.67, for a total value of $10,229,375.00. Following the transaction, the vice president directly owned 425,075 shares of the company’s stock, valued at $69,572,025.25. This represents a 12.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert J. Mylod, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $206.70, for a total value of $206,700.00. Following the transaction, the director owned 15,000 shares of the company’s stock, valued at approximately $3,100,500. This trade represents a 6.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 69,625 shares of company stock worth $11,652,075 in the last 90 days. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Booking

Several institutional investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. raised its position in Booking by 1.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 121 shares of the business services provider’s stock valued at $700,000 after buying an additional 2 shares during the last quarter. Bar Harbor Wealth Management boosted its position in Booking by 0.3% during the 4th quarter. Bar Harbor Wealth Management now owns 611 shares of the business services provider’s stock worth $3,272,000 after acquiring an additional 2 shares during the last quarter. FSM Wealth Advisors LLC grew its stake in shares of Booking by 4.9% during the 4th quarter. FSM Wealth Advisors LLC now owns 43 shares of the business services provider’s stock worth $232,000 after acquiring an additional 2 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of Booking by 22.2% during the 4th quarter. Westside Investment Management Inc. now owns 11 shares of the business services provider’s stock worth $59,000 after acquiring an additional 2 shares in the last quarter. Finally, BLB&B Advisors LLC raised its holdings in shares of Booking by 4.0% in the fourth quarter. BLB&B Advisors LLC now owns 52 shares of the business services provider’s stock valued at $278,000 after purchasing an additional 2 shares during the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Booking

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Quarterly results exceeded expectations: Booking reported adjusted earnings of $2.54 per share, above the $2.43 consensus estimate, while revenue increased 8.1% year over year to $7.35 billion, surpassing forecasts of $7.19 billion. The results suggested resilient travel demand and helped support the stock’s advance.
• Positive Sentiment: Analyst optimism strengthened: UBS raised its price target to $274, while Wedbush, Benchmark and BTIG maintained bullish ratings with targets ranging from $247 to $250. The analyst actions reinforce expectations for additional upside following the earnings report. Booking Given New Price Target at UBS Group
• Positive Sentiment: Longer-term growth initiatives remain supportive: Management cited early benefits from artificial-intelligence personalization, cost savings and its connected-trip strategy, potentially improving efficiency and expanding customer engagement. Is Booking Holdings a Buying Opportunity?
• Neutral Sentiment: Dividend provides modest shareholder support: Booking declared a quarterly dividend of $0.42 per share, payable September 30 to shareholders of record September 11. The annualized yield of approximately 0.8% is unlikely to materially change the investment case.
• Neutral Sentiment: Director sale was scheduled in advance: Director Robert Mylod Jr. sold 1,000 shares for $206,700 under a pre-arranged Rule 10b5-1 plan. He continues to own 15,000 shares, limiting the significance of the transaction as a bearish signal. Booking Director Stock Sale
• Negative Sentiment: Near-term outlook is less robust: Investors remain cautious about soft third-quarter revenue guidance, moderating room-night growth and marketing expenses rising faster than revenue. Competition from Google, geopolitical uncertainty and technically overbought conditions could limit further gains after the recent rally. Why Analysts Are Bullish on Booking

About Booking

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.