Booking (NASDAQ:BKNG) Stock Gets Price Target Trim from Royal Bank Of Canada

Booking (NASDAQ:BKNG) had its target price dropped by equities research analysts at Royal Bank Of Canada from $220.00 to $205.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Royal Bank Of Canada‘s target price would suggest a potential upside of 17.81% from the stock’s current price.

BKNG has been the subject of several other reports. Robert W. Baird set a $230.00 price objective on Booking in a report on Wednesday, August 5th. Argus upped their target price on Booking from $210.00 to $245.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings cut Booking from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and set a $245.00 price target on shares of Booking in a research note on Wednesday. Finally, Rosenblatt Securities cut their price target on Booking from $245.00 to $210.00 and set a “buy” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Booking has a consensus rating of “Moderate Buy” and an average target price of $224.47.

Booking Price Performance

Booking stock traded up $18.34 during mid-day trading on Wednesday, reaching $174.01. The company had a trading volume of 5,673,776 shares, compared to its average volume of 8,131,053. The stock’s 50-day simple moving average is $168.99 and its 200-day simple moving average is $176.70. Booking has a 1 year low of $146.28 and a 1 year high of $220.81. The company has a market capitalization of $130.75 billion, a P/E ratio of 19.18, a P/E/G ratio of 0.96 and a beta of 1.17.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $4.66 EPS for the quarter, topping the consensus estimate of $4.49 by $0.17. The business had revenue of $9.79 billion for the quarter, compared to analyst estimates of $9.55 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $99.50 EPS. On average, equities analysts forecast that Booking will post 10.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Peter J. Millones sold 50,050 shares of the stock in a transaction on Monday, August 17th. The stock was 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 ownership of the stock. The transaction 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, Director Robert J. Mylod, Jr. sold 1,000 shares of Booking stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director owned 14,000 shares of the company’s stock, valued at approximately $2,800,000. This represents a 6.67% 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. Over the last 90 days, insiders sold 77,425 shares of company stock valued at $16,004,164. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BKNG. Accuvest Global Advisors acquired a new stake in shares of Booking in the 3rd quarter valued at $499,000. StoneRidge PMG Advisors LLC bought a new position in Booking in the 3rd quarter worth approximately $577,000. Hohimer Wealth Management LLC lifted its stake in shares of Booking by 378.4% during the third quarter. Hohimer Wealth Management LLC now owns 22,117 shares of the business services provider’s stock valued at $3,603,000 after acquiring an additional 17,494 shares during the period. Carret Asset Management LLC lifted its stake in shares of Booking by 13.6% during the third quarter. Carret Asset Management LLC now owns 4,215 shares of the business services provider’s stock valued at $687,000 after acquiring an additional 505 shares during the period. Finally, Family Capital Management Inc. bought a new position in Booking in the third quarter valued at about $210,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking News Summary

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking reported adjusted earnings of $4.66 per share, above analysts’ estimates, while room nights grew 7% and adjusted EBITDA increased 9%. These operating results offered investors a positive counterpoint to weaker reported figures. Q3 earnings call highlights
• Positive Sentiment: The company is investing in AI-powered booking tools and loyalty programs, and pursuing cost savings. Those initiatives could support future growth and efficiency, though their impact remains to be seen. Earnings call highlights
• Neutral Sentiment: Several firms lowered price targets after the results but maintained Buy or Outperform ratings, including B. Riley, Wedbush, Bank of America and Rosenblatt. The revisions temper expectations, while continued positive ratings suggest many analysts still see upside. Analysts cut forecasts
• Negative Sentiment: Management expects slower Q4 travel growth amid soft international demand, citing factors including Middle East conflict, higher airfares and European turmoil. A roughly $900 million FTC-related impact also weighed on reported revenue, which declined year over year despite growth in adjusted revenue. FTC-related revenue impact

About Booking

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.