Booking (NASDAQ:BKNG) Stock Price Expected to Rise, Bank of America Analyst Says

Booking (NASDAQ:BKNG) had its target price hoisted by Bank of America from $4,448.00 to $4,850.00 in a report released on Thursday, Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

BKNG has been the subject of a number of other research reports. Tigress Financial increased their price objective on shares of Booking from $4,285.00 to $4,580.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 9th. Wells Fargo & Company lifted their price objective on Booking from $3,976.00 to $4,173.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Truist Financial started coverage on Booking in a research note on Friday, September 6th. They set a “hold” rating and a $4,100.00 target price on the stock. Oppenheimer lifted their target price on Booking from $4,200.00 to $5,000.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Booking from $4,275.00 to $4,105.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Twelve research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,680.18.

Booking Stock Up 1.6 %

NASDAQ:BKNG opened at $4,749.11 on Thursday. Booking has a 52 week low of $2,756.39 and a 52 week high of $4,856.60. The stock’s fifty day moving average is $4,136.96 and its two-hundred day moving average is $3,883.88. The company has a market capitalization of $157.20 billion, a P/E ratio of 32.23, a P/E/G ratio of 1.52 and a beta of 1.38.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $83.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $77.94 by $5.95. The firm had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.63 billion. Booking had a net margin of 21.85% and a negative return on equity of 166.06%. Sell-side analysts anticipate that Booking will post 177.79 earnings per share for the current fiscal year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $8.75 per share. This represents a $35.00 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Friday, December 6th. Booking’s payout ratio is 23.75%.

Insider Transactions at Booking

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

Institutional Investors Weigh In On Booking

Several large investors have recently modified their holdings of BKNG. Jamison Private Wealth Management Inc. purchased a new stake in Booking in the 3rd quarter valued at $25,000. Grove Bank & Trust increased its stake in Booking by 133.3% in the second quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 4 shares during the period. POM Investment Strategies LLC acquired a new position in Booking in the second quarter valued at $28,000. Kings Path Partners LLC purchased a new stake in shares of Booking in the second quarter valued at about $28,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Booking during the third quarter worth about $29,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Booking Company Profile

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.