BTIG Research Reaffirms Buy Rating for Booking (NASDAQ:BKNG)

Booking (NASDAQ:BKNG)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a research note issued on Thursday, Marketbeat.com reports. They currently have a $250.00 price target on the business services provider’s stock. BTIG Research‘s target price points to a potential upside of 63.29% from the company’s current price.

BKNG has been the topic of several other reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $230.00 target price on shares of Booking in a research note on Wednesday, August 5th. DA Davidson set a $240.00 target price on shares of Booking in a research note on Thursday, August 6th. Citigroup reissued a “market perform” rating on shares of Booking in a research note on Thursday, September 24th. Robert W. Baird set a $230.00 target price on shares of Booking in a research note on Wednesday, August 5th. Finally, B. Riley Financial reissued a “buy” rating and set a $274.00 target price (up from $264.00) on shares of Booking in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $233.71.

Booking Trading Down 1.8%

BKNG traded down $2.73 during midday trading on Thursday, hitting $153.10. 1,056,306 shares of the company were exchanged, compared to its average volume of 8,101,528. The company’s 50 day simple moving average is $176.85 and its 200 day simple moving average is $177.37. The firm has a market capitalization of $115.04 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. Booking has a 1-year low of $150.14 and a 1-year high of $220.81.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.11. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $55.40 EPS. On average, equities analysts anticipate that Booking will post 10.48 EPS for the current year.

Insider Buying and Selling at Booking

In other news, CFO Ewout L. Steenbergen sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the completion of the sale, the chief financial officer owned 59,794 shares in the company, valued at $12,618,327.82. This trade represents a 25.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Wittman sold 375 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $211.00, for a total transaction of $79,125.00. Following the sale, the director owned 16,133 shares of the company’s stock, valued at $3,404,063. This represents a 2.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 84,550 shares of company stock worth $17,426,865. Insiders own 0.17% of the company’s stock.

Institutional Trading of Booking

Several institutional investors have recently added to or reduced their stakes in BKNG. Lakewood Asset Management LLC increased its holdings in Booking by 6.0% in the 3rd quarter. Lakewood Asset Management LLC now owns 12,854 shares of the business services provider’s stock valued at $2,094,000 after purchasing an additional 729 shares during the last quarter. Davidson Kahn Capital Management LLC increased its holdings in Booking by 31.6% in the 3rd quarter. Davidson Kahn Capital Management LLC now owns 2,059 shares of the business services provider’s stock valued at $335,000 after purchasing an additional 495 shares during the last quarter. Townsend & Associates Inc increased its holdings in Booking by 2.9% in the 3rd quarter. Townsend & Associates Inc now owns 75,761 shares of the business services provider’s stock valued at $12,383,000 after purchasing an additional 2,113 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Booking by 16.6% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 4,618 shares of the business services provider’s stock valued at $752,000 after purchasing an additional 658 shares during the last quarter. Finally, Samalin Investment Counsel LLC increased its holdings in Booking by 47.4% in the 3rd quarter. Samalin Investment Counsel LLC now owns 1,876 shares of the business services provider’s stock valued at $306,000 after purchasing an additional 603 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

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.