Booking’s (BKNG) “Neutral” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Booking (NASDAQ:BKNG) in a research note published on Wednesday,Benzinga reports. The firm currently has a $200.00 price objective on the business services provider’s stock, down from their prior price objective of $215.00.

A number of other brokerages have also issued reports on BKNG. Susquehanna reiterated a “positive” rating and issued a $200.00 price objective (down from $240.00) on shares of Booking in a report on Wednesday. Argus boosted their target price on shares of Booking from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Morgan Stanley reissued an “overweight” rating and set a $200.00 target price (down from $230.00) on shares of Booking in a report on Wednesday. Citigroup restated an “outperform” rating on shares of Booking in a research report on Wednesday. Finally, Weiss Ratings downgraded shares of Booking from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.35.

Booking Price Performance

BKNG stock traded down $8.06 during midday trading on Wednesday, reaching $160.66. 7,907,758 shares of the stock were exchanged, compared to its average volume of 6,818,136. Booking has a 52 week low of $146.28 and a 52 week high of $220.81. The company has a fifty day moving average price of $166.49 and a 200 day moving average price of $176.13. The stock has a market capitalization of $120.72 billion, a PE ratio of 17.33, a P/E/G ratio of 0.96 and a beta of 1.17.

Booking (NASDAQ:BKNG) last posted its earnings results on Tuesday, November 3rd. The business services provider reported $4.66 EPS for the quarter, beating the consensus estimate of $4.49 by $0.17. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The firm had revenue of $9.79 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period last year, the company earned $99.50 earnings per share. The business’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, analysts anticipate that Booking will post 10.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paulo Pisano sold 3,000 shares of Booking stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $203.48, for a total value of $610,440.00. Following the transaction, the insider directly owned 73,400 shares of the company’s stock, valued at $14,935,432. The trade was a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the company’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 value 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. The trade was a 25.06% 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 77,425 shares of company stock valued at $16,004,164 over the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. AlpenGlobal Capital LLC lifted its stake in shares of Booking by 8.4% in the 3rd quarter. AlpenGlobal Capital LLC now owns 19,849 shares of the business services provider’s stock valued at $3,234,000 after purchasing an additional 1,544 shares during the period. BCV Asset Management Inc. grew its stake in Booking by 4.7% during the third quarter. BCV Asset Management Inc. now owns 46,918 shares of the business services provider’s stock worth $7,674,000 after purchasing an additional 2,087 shares during the period. ProVise Management Group LLC grew its stake in Booking by 2.7% during the third quarter. ProVise Management Group LLC now owns 90,843 shares of the business services provider’s stock worth $14,799,000 after purchasing an additional 2,349 shares during the period. Russell Investments Group Ltd. increased its holdings in Booking by 1.9% in the third quarter. Russell Investments Group Ltd. now owns 2,288,307 shares of the business services provider’s stock worth $372,609,000 after purchasing an additional 42,348 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Booking in the third quarter valued at approximately $231,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Booking News Summary

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking’s business. Its stock should benefit
• Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
• Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
• Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
• Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target

Booking Company Profile

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.