Zacks Investment Research Lowers Booking (NASDAQ:BKNG) to Hold

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Zacks Investment Research lowered shares of Booking (NASDAQ:BKNG) from a buy rating to a hold rating in a research report report published on Thursday, Zacks.com reports. Zacks Investment Research currently has $2,153.00 price target on the business services provider’s stock.

According to Zacks, “Booking Holdings is riding on improving gross bookings. The company continues to witness solid growth in the booked room nights. Its rising mobile share and growing accommodation business are aiding total room nights bookings. Further, strong efforts toward ramping up of merchant business remain positive. We believe secular growth trend in the online travel booking market and growing mobile usage penetration are tailwinds. Moreover, the company’s strong position in international markets, growth opportunities in the domestic market and good execution of marketing strategies are major positives. Notably, the stock has outperformed its industry on a year-to-date basis. However, sluggishness in the rental car days poses risk. Moreover, macro headwinds, increasing advertising spend and occupancy tax-related litigation remain concerns.”

A number of other equities analysts also recently issued reports on the company. Piper Jaffray Companies reiterated a neutral rating and set a $1,900.00 price target (up previously from $1,800.00) on shares of Booking in a research note on Thursday, August 8th. Morgan Stanley lifted their price target on Booking from $2,050.00 to $2,100.00 and gave the company an equal weight rating in a research note on Thursday, August 8th. Citigroup upgraded Booking from a neutral rating to a buy rating and cut their price target for the company from $1,800.00 to $1,745.02 in a research note on Thursday, May 23rd. Barclays reiterated an overweight rating and set a $2,140.00 price target (up previously from $2,080.00) on shares of Booking in a research note on Thursday, August 8th. Finally, Evercore ISI reiterated a neutral rating on shares of Booking in a research note on Sunday, August 11th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $2,073.17.

Shares of BKNG opened at $2,063.90 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a 50-day moving average of $1,929.04 and a 200-day moving average of $1,834.57. The company has a market cap of $86.78 billion, a PE ratio of 22.29, a P/E/G ratio of 1.49 and a beta of 1.14. Booking has a one year low of $1,606.27 and a one year high of $2,071.78.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported $23.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $22.80 by $0.79. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.78 billion. Booking had a return on equity of 56.70% and a net margin of 28.19%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $20.13 EPS. Analysts expect that Booking will post 102.15 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Booking by 8.3% in the 1st quarter. FMR LLC now owns 997,623 shares of the business services provider’s stock worth $1,740,762,000 after buying an additional 76,561 shares during the last quarter. Edgewood Management LLC boosted its stake in shares of Booking by 0.9% in the 2nd quarter. Edgewood Management LLC now owns 682,058 shares of the business services provider’s stock worth $1,278,661,000 after buying an additional 5,986 shares during the last quarter. Investec Asset Management LTD boosted its stake in shares of Booking by 45.2% in the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock worth $946,177,000 after buying an additional 201,869 shares during the last quarter. Morgan Stanley boosted its stake in shares of Booking by 2.0% in the 2nd quarter. Morgan Stanley now owns 648,282 shares of the business services provider’s stock worth $1,215,342,000 after buying an additional 12,951 shares during the last quarter. Finally, Thoroughbred Financial Services LLC raised its holdings in shares of Booking by 197,303.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 596,157 shares of the business services provider’s stock worth $59,616,000 after purchasing an additional 595,855 shares during the period. Hedge funds and other institutional investors own 93.02% of the company’s stock.

About Booking

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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