Booking (NASDAQ:BKNG) Stock Gets Price Target Reduction from Citigroup

Booking (NASDAQ:BKNG) had its price target cut by Citigroup from $236.00 to $220.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other equities analysts also recently weighed in on BKNG. Wedbush dropped their target price on Booking from $247.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday. TD Cowen raised shares of Booking to a “strong-buy” rating in a research report on Monday, September 14th. Susquehanna reissued a “positive” rating and issued a $200.00 price objective (down from $240.00) on shares of Booking in a research note on Wednesday. Royal Bank Of Canada dropped their price objective on shares of Booking from $220.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on shares of Booking from $248.00 to $205.00 and set an “overweight” rating on the stock in a research note 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’s stock. According to MarketBeat.com, Booking has an average rating of “Moderate Buy” and an average target price of $222.35.

Booking Stock Down 4.8%

NASDAQ:BKNG traded down $8.06 during trading hours on Wednesday, reaching $160.66. 7,907,758 shares of the stock were exchanged, compared to its average volume of 6,818,136. Booking has a twelve month low of $146.28 and a twelve month high of $220.81. The business has a 50-day moving average of $166.49 and a two-hundred day moving average of $176.13. The company has a market capitalization of $120.72 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.96 and a beta of 1.17.

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

Insider Activity

In other Booking news, VP Peter Millones, Jr. sold 50,050 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $207.59, for a total transaction of $10,389,879.50. Following the sale, the vice president owned 375,025 shares in the company, valued at $77,851,439.75. This represents a 11.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Wittman sold 375 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $211.00, for a total value of $79,125.00. Following the completion of the sale, the director directly owned 16,133 shares in the company, valued at $3,404,063. This represents a 2.27% 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 a total of 77,425 shares of company stock worth $16,004,164 over the last three months. Company insiders own 0.17% of the company’s stock.

Institutional Trading of Booking

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Booking in the second quarter valued at approximately $11,646,302,000. State Street Corp lifted its stake in Booking by 2,674.6% in the second quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock worth $7,026,348,000 after acquiring an additional 37,999,915 shares during the last quarter. Bank of Nova Scotia grew its holdings in Booking by 1,497.3% during the 1st quarter. Bank of Nova Scotia now owns 870,520 shares of the business services provider’s stock worth $3,665,168,000 after acquiring an additional 816,022 shares in the last quarter. Deutsche Bank AG acquired a new position in Booking during the 2nd quarter worth approximately $1,691,186,000. Finally, Bank of New York Mellon Corp acquired a new position in Booking during the 2nd quarter worth approximately $1,370,455,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Booking

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.