Benchmark Forecasts Strong Price Appreciation for Booking (NASDAQ:BKNG) Stock

Booking (NASDAQ:BKNG) had its price target upped by equities researchers at Benchmark from $5,000.00 to $5,900.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Benchmark’s target price points to a potential upside of 12.40% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Truist Financial upped their price target on shares of Booking from $4,100.00 to $4,700.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Piper Sandler reiterated a “neutral” rating and set a $5,120.00 price objective (up previously from $4,900.00) on shares of Booking in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Booking from $5,575.00 to $5,750.00 and gave the company an “overweight” rating in a research note on Friday. Barclays raised their price objective on Booking from $5,100.00 to $5,600.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Mizuho upped their target price on Booking from $5,400.00 to $6,000.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Nine analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5,244.00.

Booking Stock Performance

BKNG stock traded up $231.00 during midday trading on Friday, reaching $5,249.23. 266,029 shares of the company traded hands, compared to its average volume of 258,363. The firm has a market capitalization of $173.75 billion, a price-to-earnings ratio of 35.66, a P/E/G ratio of 1.77 and a beta of 1.39. Booking has a 52-week low of $3,180.00 and a 52-week high of $5,337.24. The business has a 50 day moving average of $4,908.11 and a 200-day moving average of $4,540.81.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $35.82 by $5.73. Booking had a negative return on equity of 166.06% and a net margin of 21.85%. The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.18 billion. Research analysts anticipate that Booking will post 181.63 earnings per share for the current year.

Institutional Trading of Booking

Several institutional investors and hedge funds have recently modified their holdings of BKNG. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Booking during the 4th quarter worth approximately $25,000. New Wave Wealth Advisors LLC acquired a new position in shares of Booking in the fourth quarter worth $25,000. Summit Securities Group LLC purchased a new stake in shares of Booking in the fourth quarter valued at $30,000. Bernard Wealth Management Corp. acquired a new stake in shares of Booking during the fourth quarter valued at $30,000. Finally, Valley National Advisers Inc. increased its position in Booking by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock worth $36,000 after purchasing an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

About Booking

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.