Rosenblatt Securities Begins Coverage on Booking (NASDAQ:BKNG)

Stock analysts at Rosenblatt Securities started coverage on shares of Booking (NASDAQ:BKNG) in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $245.00 price target on the business services provider’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 23.06% from the company’s current price.

Several other research firms have also issued reports on BKNG. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $188.00 price target on shares of Booking in a report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $230.00 target price on shares of Booking in a research note on Wednesday, August 5th. Piper Sandler reiterated a “neutral” rating and set a $215.00 price target (up from $195.00) on shares of Booking in a research note on Wednesday, August 5th. B. Riley Financial restated a “buy” rating and issued a $274.00 price objective (up from $264.00) on shares of Booking in a research note on Wednesday, August 5th. Finally, Susquehanna reiterated a “positive” rating and issued a $240.00 target price on shares of Booking in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $236.70.

Booking Stock Performance

NASDAQ BKNG opened at $199.09 on Tuesday. Booking has a one year low of $150.14 and a one year high of $226.10. The company has a market capitalization of $149.59 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.24 and a beta of 1.07. The stock has a 50 day moving average price of $192.80 and a 200-day moving average price of $177.79.

Booking (NASDAQ:BKNG) last announced its earnings results on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The firm had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the previous year, the business earned $55.40 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities analysts predict that Booking will post 10.48 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Peter J. Millones sold 50,050 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the sale, the vice president owned 375,025 shares of the company’s stock, valued at $77,851,439.75. This trade represents a 11.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of Booking stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $192.00, for a total transaction of $216,000.00. Following the transaction, the director directly owned 16,508 shares of the company’s stock, valued at approximately $3,169,536. This trade represents a 6.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 77,550 shares of company stock valued at $16,112,304. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Booking

Institutional investors have recently modified their holdings of the business. Osbon Capital Management LLC acquired a new stake in Booking in the fourth quarter valued at approximately $27,000. Mcguire Capital Advisors Inc. acquired a new stake in Booking in the 4th quarter valued at $27,000. Strive Asset Management LLC purchased a new stake in Booking in the 3rd quarter worth $27,000. Swiss RE Ltd. acquired a new position in Booking during the fourth quarter worth $27,000. Finally, Godfrey Financial Associates Inc. purchased a new position in Booking during the fourth quarter valued at $32,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

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.