TD Cowen Upgrades Booking (NASDAQ:BKNG) to Strong-Buy

Booking (NASDAQ:BKNG) was upgraded by TD Cowen to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

A number of other analysts also recently issued reports on the company. Cantor Fitzgerald lifted their price objective on Booking from $175.00 to $220.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Booking in a research report on Wednesday, August 26th. DA Davidson set a $240.00 target price on shares of Booking in a report on Thursday, August 6th. Evercore restated an “outperform” rating and issued a $270.00 price target on shares of Booking in a research report on Monday, August 24th. Finally, Truist Financial set a $242.00 price target on shares of Booking in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.98.

Booking Stock Up 0.0%

Shares of Booking stock opened at $171.40 on Monday. The firm has a market cap of $128.79 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.06 and a beta of 1.07. The business has a 50-day moving average price of $193.58 and a 200-day moving average price of $179.13. Booking has a twelve month low of $150.14 and a twelve month high of $225.00.

Booking (NASDAQ:BKNG) last posted 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 company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the previous year, the business earned $55.40 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts expect that Booking will post 10.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Peter Millones, Jr. sold 50,050 shares of Booking stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $207.59, for a total value of $10,389,879.50. Following the completion of the transaction, the vice president owned 375,025 shares in the company, valued at approximately $77,851,439.75. The trade was a 11.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 1,500 shares of Booking stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $173.02, for a total value of $259,530.00. Following the completion of the transaction, the insider owned 71,900 shares of the company’s stock, valued at approximately $12,440,138. This trade represents a 2.04% 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 three months, insiders sold 83,050 shares of company stock worth $17,182,274. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP grew its holdings in shares of Booking by 1,615.6% during the second quarter. Allworth Financial LP now owns 13,931 shares of the business services provider’s stock valued at $2,483,000 after buying an additional 13,119 shares during the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new position in Booking in the 2nd quarter worth $11,687,000. MBM Wealth Consultants LLC raised its stake in Booking by 2,860.8% in the 2nd quarter. MBM Wealth Consultants LLC now owns 12,554 shares of the business services provider’s stock worth $2,238,000 after acquiring an additional 12,130 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in Booking during the 4th quarter worth about $361,463,000. Finally, Merit Financial Group LLC lifted its position in Booking by 1,663.9% during the 2nd quarter. Merit Financial Group LLC now owns 28,698 shares of the business services provider’s stock worth $5,115,000 after acquiring an additional 27,071 shares during the period. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Company Profile

Booking Holdings Inc is a global provider of online travel and related services. The company connects consumers with accommodations, flights, rental cars, restaurants and travel experiences through a portfolio of digital brands and websites.

Its principal brands include Booking.com, which offers lodging, transportation and travel experiences; Priceline, which provides online booking services for hotels, flights, rental cars and vacation packages; Agoda, which focuses primarily on travel bookings in Asia and other international markets; KAYAK, a travel metasearch engine; OpenTable, a restaurant reservation and management platform; and Rentalcars.com, a global car rental service.

Booking Holdings serves customers, travel providers and restaurants across numerous countries and regions, with a particularly extensive international presence.