Booking (NASDAQ:BKNG) Stock Keeps “Neutral” Rating at Piper Sandler

Booking (NASDAQ:BKNG)‘s stock had its “neutral” rating restated by research analysts at Piper Sandler in a research note issued on Wednesday, Benzinga reports. They currently have a $200.00 target price on the business services provider’s stock, down from their prior target price of $215.00. Piper Sandler‘s price objective suggests a potential upside of 16.57% from the stock’s previous close.

Several other brokerages have also issued reports on BKNG. The Goldman Sachs Group reiterated a “neutral” rating and issued a $175.00 price target on shares of Booking in a research note on Wednesday. Barclays decreased their target price on shares of Booking from $210.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday. Wells Fargo & Company reiterated a “positive” rating and set a $179.00 target price (down from $190.00) on shares of Booking in a report on Wednesday. Melius Research set a $225.00 price target on Booking in a research report on Tuesday, October 20th. Finally, Cantor Fitzgerald reduced their price objective on Booking from $170.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $222.90.

Booking Price Performance

BKNG stock traded up $15.91 during midday trading on Wednesday, hitting $171.58. The stock had a trading volume of 6,506,153 shares, compared to its average volume of 8,135,955. The firm has a market cap of $128.92 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17. The business has a 50-day moving average of $168.99 and a two-hundred day moving average of $176.70. Booking has a 52-week low of $146.28 and a 52-week high of $220.81.

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

Insider Transactions at Booking

In other news, 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 sale, the insider owned 73,400 shares in the company, valued at $14,935,432. This represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter Millones, Jr. sold 50,050 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the sale, the vice president directly owned 375,025 shares of the company’s stock, valued at $77,851,439.75. This trade represents a 11.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 77,425 shares of company stock valued at $16,004,164. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BKNG. Allworth Financial LP increased its holdings in shares of Booking by 1,615.6% in the second quarter. Allworth Financial LP now owns 13,931 shares of the business services provider’s stock valued at $2,483,000 after purchasing an additional 13,119 shares during the period. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Booking in the 2nd quarter valued at $11,687,000. MBM Wealth Consultants LLC boosted its holdings in shares of Booking by 2,860.8% in the 2nd quarter. MBM Wealth Consultants LLC now owns 12,554 shares of the business services provider’s stock valued at $2,238,000 after acquiring an additional 12,130 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Booking by 2,549.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 88,949 shares of the business services provider’s stock valued at $16,077,000 after purchasing an additional 85,592 shares during the last quarter. Finally, Venture Visionary Partners LLC grew its position in Booking by 53.3% during the 3rd quarter. Venture Visionary Partners LLC now owns 61,803 shares of the business services provider’s stock worth $10,068,000 after purchasing an additional 21,496 shares during the period. 92.42% of the stock is owned by institutional investors.

Booking News Roundup

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking reported adjusted earnings of $4.66 per share, above analysts’ estimates, while room nights grew 7% and adjusted EBITDA increased 9%. These operating results offered investors a positive counterpoint to weaker reported figures. Q3 earnings call highlights
• Positive Sentiment: The company is investing in AI-powered booking tools and loyalty programs, and pursuing cost savings. Those initiatives could support future growth and efficiency, though their impact remains to be seen. Earnings call highlights
• Neutral Sentiment: Several firms lowered price targets after the results but maintained Buy or Outperform ratings, including B. Riley, Wedbush, Bank of America and Rosenblatt. The revisions temper expectations, while continued positive ratings suggest many analysts still see upside. Analysts cut forecasts
• Negative Sentiment: Management expects slower Q4 travel growth amid soft international demand, citing factors including Middle East conflict, higher airfares and European turmoil. A roughly $900 million FTC-related impact also weighed on reported revenue, which declined year over year despite growth in adjusted revenue. FTC-related revenue impact

About Booking

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.