Booking (NASDAQ:BKNG) Rating Reiterated by Cantor Fitzgerald

Booking (NASDAQ:BKNG)‘s stock had its “neutral” rating reaffirmed by stock analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $3,590.00 price target on the business services provider’s stock. Cantor Fitzgerald’s target price would suggest a potential downside of 14.36% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Oppenheimer lowered their target price on shares of Booking from $4,600.00 to $4,200.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Wedbush upped their price objective on Booking from $3,850.00 to $4,200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. DA Davidson decreased their price objective on Booking from $4,150.00 to $4,100.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Evercore ISI cut their target price on Booking from $4,500.00 to $4,200.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Truist Financial began coverage on shares of Booking in a research note on Friday, September 6th. They set a “hold” rating and a $4,100.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Booking presently has a consensus rating of “Moderate Buy” and an average price target of $4,064.21.

Booking Price Performance

NASDAQ:BKNG traded down $55.94 during trading hours on Monday, hitting $4,192.16. The stock had a trading volume of 64,192 shares, compared to its average volume of 253,220. The firm has a market capitalization of $142.23 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 1.27 and a beta of 1.40. Booking has a one year low of $2,733.04 and a one year high of $4,272.88. The company has a 50 day simple moving average of $3,789.54 and a two-hundred day simple moving average of $3,753.95.

Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, August 1st. The business services provider reported $41.90 EPS for the quarter, topping the consensus estimate of $39.22 by $2.68. Booking had a negative return on equity of 200.87% and a net margin of 22.46%. The business had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the previous year, the business earned $37.62 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Equities research analysts anticipate that Booking will post 176.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Paulo Pisano sold 100 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the completion of the transaction, the insider now directly owns 3,787 shares in the company, valued at $14,722,379.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Paulo Pisano sold 100 shares of the 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 transaction of $388,761.00. Following the sale, the insider now owns 3,787 shares in the company, valued at $14,722,379.07. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Glenn D. Fogel sold 750 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the completion of the transaction, the chief executive officer now owns 24,721 shares of the company’s stock, valued at $100,556,375.65. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Booking

Several institutional investors have recently modified their holdings of BKNG. ICA Group Wealth Management LLC bought a new position in Booking during the 4th quarter valued at about $25,000. Grove Bank & Trust raised its holdings in shares of Booking by 133.3% during 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 last quarter. POM Investment Strategies LLC bought a new position in Booking during the second quarter valued at approximately $28,000. Kings Path Partners LLC purchased a new stake in Booking in the second quarter worth approximately $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Booking in the 2nd quarter worth approximately $32,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

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.