Booking (NASDAQ:BKNG) Stock Price Expected to Rise, B. Riley Analyst Says

Booking (NASDAQ:BKNG) had its price objective lifted by B. Riley from $5,700.00 to $6,000.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. B. Riley’s price objective indicates a potential upside of 14.75% from the stock’s previous close.

A number of other brokerages have also recently issued reports on BKNG. Morgan Stanley boosted their price objective on shares of Booking from $4,600.00 to $5,000.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Argus lowered Booking from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Booking from $5,575.00 to $5,750.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer raised their price target on Booking from $5,500.00 to $6,000.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Barclays boosted their price objective on Booking from $5,100.00 to $5,600.00 and gave the company an “overweight” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $5,197.57.

Booking Price Performance

Shares of Booking stock traded up $210.69 on Friday, hitting $5,228.92. 190,509 shares of the company’s stock traded hands, compared to its average volume of 255,177. Booking has a one year low of $3,180.00 and a one year high of $5,337.24. The stock has a market capitalization of $173.08 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.39. The firm’s 50-day moving average price is $4,908.11 and its two-hundred day moving average price is $4,540.81.

Booking (NASDAQ:BKNG) last issued its 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. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Booking had a negative return on equity of 166.06% and a net margin of 21.85%. On average, analysts forecast that Booking will post 181.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Booking

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AlphaCore Capital LLC acquired a new stake in Booking during the 4th quarter worth about $229,000. Mackenzie Financial Corp lifted its stake in Booking by 24.1% in the fourth quarter. Mackenzie Financial Corp now owns 22,065 shares of the business services provider’s stock valued at $109,628,000 after buying an additional 4,280 shares during the period. Forum Financial Management LP boosted its holdings in shares of Booking by 32.9% during the 4th quarter. Forum Financial Management LP now owns 101 shares of the business services provider’s stock worth $502,000 after buying an additional 25 shares in the last quarter. Toronto Dominion Bank grew its position in shares of Booking by 17.5% during the 4th quarter. Toronto Dominion Bank now owns 15,316 shares of the business services provider’s stock worth $76,093,000 after buying an additional 2,276 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Booking in the 4th quarter valued at $31,167,000. Institutional investors own 92.42% of the company’s stock.

Booking Company Profile

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.