Wedbush Increases Booking (NASDAQ:BKNG) Price Target to $247.00

Booking (NASDAQ:BKNG) had its target price lifted by stock analysts at Wedbush from $211.00 to $247.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Wedbush’s price target points to a potential upside of 21.14% from the stock’s current price.

A number of other research firms have also recently issued reports on BKNG. UBS Group increased their target price on Booking from $249.00 to $266.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft cut their price target on Booking from $210.00 to $202.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Cantor Fitzgerald upped their price objective on Booking from $175.00 to $220.00 and gave the stock a “neutral” rating in a research report on Wednesday. HSBC decreased their price objective on Booking from $309.84 to $298.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Finally, BTIG Research reissued a “buy” rating and issued a $250.00 target price on shares of Booking in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.90.

Booking Stock Performance

NASDAQ BKNG opened at $203.90 on Wednesday. The stock has a market cap of $158.00 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 1.21 and a beta of 1.07. The business has a 50 day simple moving average of $176.96 and a 200 day simple moving average of $176.82. Booking has a 52-week low of $150.14 and a 52-week high of $231.80.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.11. Booking had a net margin of 22.23% and a negative return on equity of 117.14%. The company had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the prior year, the company earned $55.40 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Booking will post 10.42 EPS for the current year.

Insider Transactions at Booking

In other news, Director Vanessa Ames Wittman sold 1,125 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total value of $216,000.00. Following the completion of the transaction, the director owned 16,508 shares in the company, valued at $3,169,536. This trade represents a 6.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of Booking stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total value of $10,229,375.00. Following the completion of the sale, the vice president directly owned 425,075 shares in the company, valued at approximately $69,572,025.25. This represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 68,625 shares of company stock worth $11,445,375 in the last three months. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Booking

A number of institutional investors and hedge funds have recently made changes to their positions in BKNG. Bank Hapoalim BM bought a new stake in Booking during the second quarter worth $256,000. Summit Global Investments acquired a new stake in Booking in the second quarter valued at $1,907,000. Oppenheimer Asset Management Inc. bought a new position in shares of Booking in the 2nd quarter valued at about $235,000. Bryn Mawr Trust Advisors LLC bought a new position in shares of Booking in the 2nd quarter valued at about $1,812,000. Finally, Mill Capital Management LLC acquired a new position in shares of Booking during the 2nd quarter worth about $25,610,000. Institutional investors own 92.42% of the company’s stock.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Q2 earnings and revenue beat expectations: Booking reported adjusted earnings of $2.54 per share versus the $2.43 consensus estimate, while revenue rose 8.1% year over year to $7.35 billion, ahead of the $7.19 billion forecast. Booking Holdings earnings report
• Positive Sentiment: Operating metrics exceeded guidance: Management reportedly surpassed expectations for room nights, gross bookings and EBITDA, supported by steady domestic and regional travel demand. The company is also advancing AI-powered personalization and its connected-trip strategy. Booking Holdings Q2 earnings call highlights
• Positive Sentiment: Analysts raised or maintained bullish views: BTIG reaffirmed a Buy rating and set a $250 price target, while Cantor Fitzgerald raised its target to $220 from $175, although it retained a Neutral rating. Analyst rating and price target updates
• Neutral Sentiment: Booking’s results suggest travel demand remains healthy despite geopolitical concerns and weaker long-haul international travel. However, growth has decelerated from recent quarters, and investors remain focused on the sustainability of demand and shareholder returns. Booking Holdings reports higher revenue
• Negative Sentiment: Q3 revenue guidance was below expectations: Booking forecast third-quarter revenue of $9.4 billion to $9.5 billion, below the roughly $9.7 billion analyst consensus. Rising marketing costs, which grew faster than revenue, also point to competitive pressure from Google and potentially higher customer-acquisition costs. Booking Holdings Q2 investment analysis

Booking Company Profile

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.