Booking (NASDAQ:BKNG) Price Target Raised to $247.00

Booking (NASDAQ:BKNG) had its target price lifted by Wedbush from $211.00 to $247.00 in a report released on Wednesday, MarketBeat reports. They currently have an outperform rating on the business services provider’s stock.

A number of other research firms have also recently issued reports on BKNG. Evercore set a $245.00 price objective on Booking in a research report on Wednesday, April 29th. Weiss Ratings raised Booking from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Mizuho cut their price target on Booking from $230.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Robert W. Baird reduced 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. Finally, Jefferies Financial Group increased their price objective on Booking from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.69.

Booking Stock Up 3.4%

BKNG 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 PEG ratio of 1.27 and a beta of 1.07. The company has a 50 day moving average of $179.43 and a two-hundred day moving average of $176.77.

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

Booking Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, September 11th. Booking’s dividend payout ratio (DPR) is 18.58%.

Insiders Place Their Bets

In other news, Director Robert J. Mylod, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $206.70, for a total transaction of $206,700.00. Following the completion of the sale, the director owned 15,000 shares in the company, valued at approximately $3,100,500. This represents a 6.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of the business’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 completion of the sale, the vice president owned 425,075 shares of the company’s stock, valued at approximately $69,572,025.25. This trade represents a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 69,625 shares of company stock valued at $11,652,075 over the last quarter. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Booking

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in shares of Booking by 34.9% during the 4th quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock worth $1,249,000 after purchasing an additional 65 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Booking in the fourth quarter valued at about $209,000. Sivia Capital Partners LLC lifted its stake in shares of Booking by 25.0% in the second quarter. Sivia Capital Partners LLC now owns 165 shares of the business services provider’s stock valued at $955,000 after buying an additional 33 shares during the period. Schnieders Capital Management LLC. grew its position in Booking by 50.0% during the second quarter. Schnieders Capital Management LLC. now owns 87 shares of the business services provider’s stock worth $504,000 after buying an additional 29 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in Booking during the second quarter worth about $179,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

More Booking News

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

Booking Company Profile

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.