Booking (NASDAQ:BKNG) Stock Price Expected to Rise, Oppenheimer Analyst Says

Booking (NASDAQ:BKNG) had its price objective upped by equities research analysts at Oppenheimer from $5,000.00 to $5,500.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price objective points to a potential upside of 15.81% from the stock’s current price.

A number of other equities analysts also recently commented on BKNG. BMO Capital Markets lifted their price objective on shares of Booking from $4,205.00 to $5,155.00 and gave the stock an “outperform” rating in a report on Thursday. Morgan Stanley boosted their price objective on shares of Booking from $4,000.00 to $4,200.00 and gave the company an “equal weight” rating in a research report on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $3,900.00 target price on shares of Booking in a report on Monday, August 5th. DA Davidson upped their target price on Booking from $4,100.00 to $5,005.00 and gave the company a “buy” rating in a report on Thursday. Finally, Truist Financial started coverage on Booking in a report on Friday, September 6th. They issued a “hold” rating and a $4,100.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4,680.18.

Booking Price Performance

Shares of BKNG stock opened at $4,749.11 on Thursday. The firm has a fifty day moving average of $4,136.96 and a two-hundred day moving average of $3,880.99. The firm has a market cap of $159.19 billion, a P/E ratio of 32.23, a P/E/G 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 announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $83.89 earnings per share for the quarter, beating the consensus estimate of $77.94 by $5.95. Booking had a negative return on equity of 165.63% and a net margin of 21.85%. The firm had revenue of $7.99 billion during the quarter, compared to analyst estimates of $7.63 billion. On average, sell-side analysts expect that Booking will post 177.37 EPS for the current year.

Insider Activity

In related news, insider Paulo Pisano sold 100 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the sale, the insider now directly owns 3,787 shares in the company, valued at $14,722,379.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Booking

A number of institutional investors and hedge funds have recently modified their holdings of BKNG. International Assets Investment Management LLC acquired a new stake in shares of Booking during the third quarter valued at approximately $5,322,600,000. Bessemer Group Inc. lifted its holdings in shares of Booking by 4,565.4% in the first quarter. Bessemer Group Inc. now owns 62,610 shares of the business services provider’s stock valued at $227,143,000 after purchasing an additional 61,268 shares in the last quarter. Mawer Investment Management Ltd. boosted its position in shares of Booking by 29.2% in the first quarter. Mawer Investment Management Ltd. now owns 193,515 shares of the business services provider’s stock worth $702,049,000 after buying an additional 43,743 shares during the period. 1832 Asset Management L.P. grew its holdings in shares of Booking by 106.0% during the second quarter. 1832 Asset Management L.P. now owns 71,334 shares of the business services provider’s stock valued at $282,590,000 after buying an additional 36,710 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its position in Booking by 2,315.8% during the second quarter. AustralianSuper Pty Ltd now owns 36,793 shares of the business services provider’s stock valued at $145,755,000 after buying an additional 35,270 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

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.