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

Booking (NASDAQ:BKNG) had its price target reduced by UBS Group from $274.00 to $265.00 in a research report sent to investors on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the business services provider’s stock.

Several other analysts have also recently commented on BKNG. Cantor Fitzgerald reduced their target price on shares of Booking from $220.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. B. Riley Financial reiterated a “buy” rating and set a $274.00 price target (up from $264.00) on shares of Booking in a research note on Wednesday, August 5th. Citigroup reiterated a “market perform” rating on shares of Booking in a research note on Thursday, September 24th. Melius Research set a $225.00 price target on shares of Booking in a report on Tuesday, October 20th. Finally, Argus raised their price objective on shares of Booking from $210.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Booking currently has an average rating of “Moderate Buy” and a consensus price target of $222.35.

Booking Price Performance

Booking stock opened at $168.72 on Tuesday. Booking has a 12 month low of $146.28 and a 12 month high of $220.81. The business has a 50 day simple moving average of $167.33 and a 200-day simple moving average of $176.33. The stock has a market capitalization of $125.48 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.07 and a beta of 1.17.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share for the quarter, topping the consensus estimate of $4.49 by $0.17. Booking had a negative return on equity of 89.54% and a net margin of 25.52%. The firm had revenue of $9.79 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same period last year, the company earned $99.50 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities research analysts anticipate that Booking will post 10.49 EPS for the current year.

Insider Buying and Selling at Booking

In other news, Director Robert Mylod, Jr. sold 1,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 14,000 shares in the company, valued at $2,800,000. This trade represents a 6.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the completion of the sale, the chief financial officer owned 59,794 shares of the company’s stock, valued at $12,618,327.82. This trade represents a 25.06% 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. Over the last 90 days, insiders sold 77,425 shares of company stock worth $16,004,164. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Booking

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kapitalo Investimentos Ltda acquired a new stake in shares of Booking in the first quarter valued at approximately $345,000. Alesco Advisors LLC An ESL Co acquired a new position in shares of Booking during the 1st quarter worth approximately $400,000. Ascentis Independent Advisors raised its position in shares of Booking by 163.6% during the 1st quarter. Ascentis Independent Advisors now owns 116 shares of the business services provider’s stock worth $488,000 after purchasing an additional 72 shares during the last quarter. Inceptionr LLC acquired a new position in shares of Booking during the 1st quarter worth approximately $505,000. Finally, Oslo Pensjonsforsikring AS acquired a new position in shares of Booking during the 1st quarter worth approximately $509,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Booking’s Q3 room-night growth and gross bookings exceeded its guidance, while adjusted EPS of $4.66 topped estimates of $4.49. The operating results and margin strength help support the bullish case despite the sales miss. Booking Holdings Q3 Earnings Beat on Travel Growth, Revenues Miss
• Positive Sentiment: CEO Glenn Fogel described AI as a potential positive for Booking, and the company is developing AI-related booking capabilities. Its AI-backed Lola assistant also launched a service for members seeking hard-to-get restaurant reservations and event tickets, adding a new experience offering. AI is starting to help Booking’s business Lola Launches Lola VIP Drops
• Positive Sentiment: TD Cowen reaffirmed its Buy rating, reflecting continued analyst support for the shares. TD Cowen Reaffirms Their Buy Rating
• Negative Sentiment: Revenue fell short of analysts’ expectations, partly due to an FTC-related impact, and Booking warned of some moderation in travel demand in Q4. Softer international demand, higher airfares and geopolitical uncertainty add to concerns about near-term growth. Booking Sees Some Moderation in Demand
• Negative Sentiment: Several analysts lowered price targets following the results, including Barclays, which cut its target to $170 while retaining an Overweight rating. The reductions signal more cautious expectations even where ratings remain favorable. Booking Stock Price Target Lowered at Barclays

Booking Company Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.