Booking (NASDAQ:BKNG) Price Target Raised to $3,950.00 at Bank of America

Booking (NASDAQ:BKNG) had its price objective boosted by Bank of America from $3,900.00 to $3,950.00 in a research note released on Friday morning, Benzinga reports. Bank of America currently has a neutral rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Barclays cut their target price on shares of Booking from $3,900.00 to $3,800.00 and set an overweight rating for the company in a research note on Friday, February 23rd. StockNews.com cut shares of Booking from a buy rating to a hold rating in a research note on Tuesday, April 30th. Oppenheimer lifted their price objective on shares of Booking from $3,450.00 to $4,200.00 and gave the company an outperform rating in a report on Monday, February 5th. The Goldman Sachs Group lifted their price objective on shares of Booking from $3,080.00 to $3,610.00 and gave the company a neutral rating in a report on Friday, January 19th. Finally, Wells Fargo & Company reduced their price target on shares of Booking from $3,548.00 to $3,435.00 and set an equal weight rating for the company in a report on Friday, February 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Booking has a consensus rating of Moderate Buy and a consensus price target of $3,823.00.

Booking Price Performance

Shares of BKNG stock opened at $3,598.41 on Friday. The company has a market capitalization of $122.09 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 1.08 and a beta of 1.40. Booking has a one year low of $2,456.93 and a one year high of $3,918.00. The company’s fifty day moving average price is $3,526.40 and its 200-day moving average price is $3,412.40.

Booking (NASDAQ:BKNG) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $20.39 EPS for the quarter, beating the consensus estimate of $14.03 by $6.36. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.25 billion. Booking had a net margin of 21.81% and a negative return on equity of 288.35%. The company’s revenue was up 16.9% on a year-over-year basis. During the same period last year, the firm earned $11.60 EPS. Equities research analysts expect that Booking will post 176.46 earnings per share for the current fiscal year.

Booking Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were paid a $8.75 dividend. The ex-dividend date was Thursday, March 7th. This represents a $35.00 dividend on an annualized basis and a yield of 0.97%. Booking’s dividend payout ratio is currently 26.25%.

Insiders Place Their Bets

In related news, CEO Glenn D. Fogel sold 4,302 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $3,422.75, for a total transaction of $14,724,670.50. Following the transaction, the chief executive officer now directly owns 33,548 shares in the company, valued at $114,826,417. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Radakovich Lynn Vojvodich sold 22 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $3,437.25, for a total value of $75,619.50. Following the transaction, the director now owns 189 shares of the company’s stock, valued at approximately $649,640.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Glenn D. Fogel sold 4,302 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $3,422.75, for a total value of $14,724,670.50. Following the completion of the transaction, the chief executive officer now directly owns 33,548 shares in the company, valued at approximately $114,826,417. The disclosure for this sale can be found here. In the last three months, insiders sold 5,483 shares of company stock worth $18,891,445. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Booking

Several hedge funds have recently bought and sold shares of BKNG. Activest Wealth Management acquired a new stake in Booking in the 4th quarter valued at about $25,000. Naples Money Management LLC purchased a new position in Booking during the 4th quarter worth approximately $25,000. ICA Group Wealth Management LLC purchased a new position in Booking during the 4th quarter worth approximately $25,000. Valued Wealth Advisors LLC purchased a new position in Booking during the 4th quarter worth approximately $28,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Booking in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds 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.