BMO Capital Markets Forecasts Strong Price Appreciation for Booking (NASDAQ:BKNG) Stock

Booking (NASDAQ:BKNG) had its target price raised by BMO Capital Markets from $4,205.00 to $5,155.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group boosted their price target on Booking from $4,200.00 to $4,300.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. UBS Group upped their target price on Booking from $4,350.00 to $5,050.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on Booking from $4,275.00 to $4,105.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $3,590.00 price target on shares of Booking in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. decreased their target price on Booking from $4,025.00 to $3,860.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4,510.71.

Booking Stock Performance

Shares of NASDAQ BKNG traded up $43.82 during midday trading on Thursday, hitting $4,720.07. 43,751 shares of the company’s stock traded hands, compared to its average volume of 245,183. The firm has a fifty day moving average of $4,118.59 and a 200 day moving average of $3,872.22. The stock has a market capitalization of $158.22 billion, a price-to-earnings ratio of 31.73, a price-to-earnings-growth ratio of 1.45 and a beta of 1.40. Booking has a 1 year low of $2,756.39 and a 1 year high of $4,856.60.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $83.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $77.94 by $5.95. Booking had a negative return on equity of 165.63% and a net margin of 21.85%. The company had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $7.63 billion. On average, equities analysts anticipate that Booking will post 177.37 earnings per share for the current year.

Insider Buying and Selling

In other Booking news, insider Paulo Pisano sold 100 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the completion of the sale, the insider now directly owns 3,787 shares in the company, valued at approximately $14,722,379.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Booking

Several large investors have recently added to or reduced their stakes in the business. CreativeOne Wealth LLC bought a new position in shares of Booking during the 1st quarter worth approximately $537,000. BDF Gestion purchased a new position in Booking in the 2nd quarter valued at approximately $6,897,000. Gamco Investors INC. ET AL purchased a new position in shares of Booking during the 1st quarter valued at $519,000. CWM LLC grew its position in shares of Booking by 11.8% during the 2nd quarter. CWM LLC now owns 2,631 shares of the business services provider’s stock valued at $10,423,000 after purchasing an additional 277 shares in the last quarter. Finally, Claro Advisors LLC grew its position in shares of Booking by 16,668.9% during the 3rd quarter. Claro Advisors LLC now owns 15,092 shares of the business services provider’s stock valued at $63,569,000 after purchasing an additional 15,002 shares in the last quarter. Institutional investors own 92.42% 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.