Booking (NASDAQ:BKNG) Stock Gets Price Target Reduction from B. Riley Financial

Booking (NASDAQ:BKNG) had its target price decreased by B. Riley Financial from $274.00 to $265.00 in a research report report published on Wednesday morning,Benzinga reports. B. Riley Financial currently has a buy rating on the business services provider’s stock.

A number of other research firms have also recently weighed in on BKNG. Wells Fargo & Company restated a “positive” rating and set a $179.00 price objective (down from $190.00) on shares of Booking in a research report on Wednesday. BMO Capital Markets reiterated an “outperform” rating and issued a $245.00 target price on shares of Booking in a research report on Wednesday. Cantor Fitzgerald cut their target price on shares of Booking from $170.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday. Rosenblatt Securities reduced their price target on shares of Booking from $245.00 to $210.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Citigroup restated an “outperform” rating on shares of Booking in a research report on Wednesday. Two 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.com, Booking has an average rating of “Moderate Buy” and a consensus price target of $222.35.

Booking Stock Performance

Shares of Booking stock traded down $8.06 on Wednesday, hitting $160.66. The company’s stock had a trading volume of 7,907,758 shares, compared to its average volume of 6,818,136. Booking has a 1 year low of $146.28 and a 1 year high of $220.81. The firm has a fifty day moving average price of $166.49 and a 200-day moving average price of $176.13. The company has a market capitalization of $120.72 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17.

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

Insider Transactions at Booking

In other Booking news, Director Vanessa Wittman sold 375 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $211.00, for a total value of $79,125.00. Following the transaction, the director owned 16,133 shares in the company, valued at approximately $3,404,063. This trade represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $203.48, for a total value of $610,440.00. Following the completion of the transaction, the insider owned 73,400 shares in the company, valued at $14,935,432. The trade was a 3.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 77,425 shares of company stock worth $16,004,164 in the last quarter. 0.17% of the stock is owned by insiders.

Institutional Investors Weigh In On Booking

A number of hedge funds have recently modified their holdings of the business. AlpenGlobal Capital LLC lifted its stake in shares of Booking by 8.4% in the third quarter. AlpenGlobal Capital LLC now owns 19,849 shares of the business services provider’s stock worth $3,234,000 after buying an additional 1,544 shares in the last quarter. BCV Asset Management Inc. boosted its position in Booking by 4.7% during the third quarter. BCV Asset Management Inc. now owns 46,918 shares of the business services provider’s stock worth $7,674,000 after acquiring an additional 2,087 shares during the last quarter. ProVise Management Group LLC grew its stake in Booking by 2.7% during the 3rd quarter. ProVise Management Group LLC now owns 90,843 shares of the business services provider’s stock valued at $14,799,000 after acquiring an additional 2,349 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Booking by 1.9% during the third quarter. Russell Investments Group Ltd. now owns 2,288,307 shares of the business services provider’s stock worth $372,609,000 after buying an additional 42,348 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Booking during the third quarter worth approximately $231,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s AI initiatives are drawing favorable attention. A Seeking Alpha article upgraded its rating, arguing AI could help drive revenue, while CEO Glenn Fogel described AI as a “big positive” for the company. Booking Holdings: AI Proves To Be A Revenue Multiplier (Rating Upgrade) AI is starting to help Booking’s business. Its stock should benefit
• Positive Sentiment: TD Cowen reiterated its Buy rating. Separately, Booking-backed Lola launched a service to help members get access to sought-after restaurant reservations and event tickets, with more cities planned. TD Cowen Reaffirms Their Buy Rating on Booking Holdings Lola Launches Lola VIP Drops
• Neutral Sentiment: Recent third-quarter results beat Booking’s own guidance on room nights, gross bookings and adjusted revenue, supporting the earlier share rally. These results provide a positive business backdrop, but may be outweighed today by competitive and analyst concerns. Booking Stock Jumps As Q3 Results Spotlight Margin Strength
• Negative Sentiment: Airbnb reported its fastest revenue growth in more than three years and raised its outlook, lifting its shares while Booking and Expedia fell. The news may renew concerns about competition and relative growth prospects in online travel. Airbnb Jumps on Growth and Raised Outlook; Booking and Expedia Fall
• Negative Sentiment: Several analyst actions point to a more cautious view: JPMorgan lowered its expectations, and Barclays and UBS cut their price targets. A downgrade also accompanied coverage of Booking shares, adding to near-term pressure. JPMorgan Lowers Expectations for Booking Barclays Lowers Booking Price Target UBS Cuts Booking Price Target

About Booking

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.