Robert W. Baird Begins Coverage on Booking (NASDAQ:BKNG)

Analysts at Robert W. Baird started coverage on shares of Booking (NASDAQ:BKNG) in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $5,850.00 price target on the business services provider’s stock. Robert W. Baird’s price target indicates a potential upside of 12.18% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Argus lowered shares of Booking from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. reduced their target price on Booking from $4,025.00 to $3,860.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Barclays upped their price target on Booking from $4,500.00 to $5,100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Tigress Financial raised their price objective on Booking from $4,580.00 to $5,600.00 and gave the company a “strong-buy” rating in a research note on Monday, November 18th. Finally, JMP Securities upped their target price on Booking from $5,000.00 to $5,400.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Booking has a consensus rating of “Moderate Buy” and an average price target of $4,820.50.

Booking Stock Performance

Shares of BKNG opened at $5,214.72 on Wednesday. The firm has a market cap of $172.61 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 1.59 and a beta of 1.38. Booking has a 52-week low of $3,079.50 and a 52-week high of $5,237.00. The business’s 50 day moving average price is $4,528.70 and its two-hundred day moving average price is $4,063.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Icon Wealth Advisors LLC raised its holdings in shares of Booking by 342,723.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 233,120 shares of the business services provider’s stock worth $981,929,000 after purchasing an additional 233,052 shares during the period. International Assets Investment Management LLC purchased a new stake in Booking in the third quarter worth $5,322,600,000. Harvard Management Co. Inc. purchased a new stake in Booking in the third quarter worth $155,427,000. 1832 Asset Management L.P. raised its stake in shares of Booking by 106.0% in 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 during the period. Finally, AustralianSuper Pty Ltd lifted its position in shares of Booking by 2,315.8% during the 2nd 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 last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

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.