Booking (BKNG) Research Coverage Started at Needham & Company LLC

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Stock analysts at Needham & Company LLC initiated coverage on shares of Booking (NASDAQ:BKNG) in a report issued on Monday, TipRanks reports. The brokerage set a “buy” rating and a $2,200.00 price target on the business services provider’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 25.55% from the stock’s previous close.

BKNG has been the subject of several other research reports. Morgan Stanley reduced their target price on shares of Booking from $2,050.00 to $1,900.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 6th. Citigroup reduced their target price on shares of Booking from $1,900.00 to $1,800.00 and set a “neutral” rating for the company in a research note on Friday, March 1st. Mizuho reduced their target price on shares of Booking from $2,130.00 to $2,050.00 and set a “buy” rating for the company in a research note on Friday, May 10th. UBS Group reduced their target price on shares of Booking from $2,000.00 to $1,960.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $2,250.00 target price (up previously from $2,235.00) on shares of Booking in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $2,075.09.

Shares of BKNG traded down $35.06 during trading hours on Monday, hitting $1,752.23. The company’s stock had a trading volume of 351,100 shares, compared to its average volume of 486,979. The company has a market capitalization of $77.37 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 1.40 and a beta of 1.04. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.34. Booking has a 52-week low of $1,606.27 and a 52-week high of $2,162.91.

Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, May 9th. The business services provider reported $11.17 earnings per share for the quarter, missing the consensus estimate of $11.26 by ($0.09). The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Booking had a return on equity of 48.32% and a net margin of 28.79%. Booking’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $12.34 EPS. On average, sell-side analysts expect that Booking will post 100.99 earnings per share for the current fiscal year.

In other Booking news, CEO Gillian Tans sold 606 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $1,778.60, for a total value of $1,077,831.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey E. Epstein sold 250 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $1,715.00, for a total transaction of $428,750.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,498 shares of company stock valued at $2,657,620. Corporate insiders own 0.24% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in BKNG. Guidant Wealth Advisors bought a new stake in shares of Booking in the 1st quarter worth approximately $26,000. AdvisorNet Financial Inc lifted its holdings in shares of Booking by 850.0% in the 1st quarter. AdvisorNet Financial Inc now owns 19 shares of the business services provider’s stock worth $33,000 after acquiring an additional 17 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Booking in the 1st quarter worth approximately $44,000. Horan Capital Advisors LLC. bought a new stake in shares of Booking in the 1st quarter worth approximately $49,000. Finally, Hanson McClain Inc. lifted its holdings in shares of Booking by 1,650.0% in the 1st quarter. Hanson McClain Inc. now owns 35 shares of the business services provider’s stock worth $61,000 after acquiring an additional 33 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Booking (NASDAQ:BKNG)

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