Booking (NASDAQ:BKNG) Price Target Increased to $3,494.00 by Analysts at Wells Fargo & Company

Booking (NASDAQ:BKNG) had its target price raised by analysts at Wells Fargo & Company from $3,435.00 to $3,494.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 2.33% from the company’s current price.

Other equities analysts have also issued reports about the company. Oppenheimer increased their price target on Booking from $3,450.00 to $4,200.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. B. Riley assumed coverage on shares of Booking in a research note on Wednesday, April 3rd. They issued a “buy” rating and a $4,400.00 price objective for the company. Mizuho upped their target price on shares of Booking from $3,580.00 to $4,250.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Seaport Res Ptn reiterated a “buy” rating on shares of Booking in a research report on Tuesday, February 20th. Finally, UBS Group upped their price objective on Booking from $4,000.00 to $4,200.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Booking currently has an average rating of “Moderate Buy” and an average target price of $3,823.00.

Booking Stock Performance

BKNG traded up $104.47 during trading on Friday, reaching $3,577.38. 534,715 shares of the company traded hands, compared to its average volume of 200,734. Booking has a 12-month low of $2,456.93 and a 12-month high of $3,918.00. The firm has a fifty day simple moving average of $3,524.43 and a 200 day simple moving average of $3,399.84. The company has a market cap of $121.70 billion, a P/E ratio of 26.83, a PEG ratio of 1.08 and a beta of 1.40.

Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, May 2nd. The business services provider reported $20.39 earnings per share for the quarter, beating the consensus estimate of $14.03 by $6.36. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Booking had a net margin of 21.81% and a negative return on equity of 433.49%. Booking’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period last year, the company posted $11.60 earnings per share. As a group, sell-side analysts expect that Booking will post 176.46 earnings per share for the current fiscal year.

Insider Activity at Booking

In other Booking news, CEO Glenn D. Fogel sold 4,302 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $3,422.75, for a total transaction of $14,724,670.50. Following the completion of the sale, the chief executive officer now owns 33,548 shares in the company, valued at $114,826,417. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Booking news, CEO Glenn D. Fogel sold 4,302 shares of Booking stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $3,422.75, for a total value of $14,724,670.50. Following the transaction, the chief executive officer now owns 33,548 shares in the company, valued at $114,826,417. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Radakovich Lynn Vojvodich sold 22 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $3,583.07, for a total transaction of $78,827.54. Following the completion of the transaction, the director now owns 211 shares of the company’s stock, valued at $756,027.77. The disclosure for this sale can be found here. Insiders sold 5,483 shares of company stock worth $18,891,445 over the last three months. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Booking

A number of large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. raised its holdings in shares of Booking by 9.0% in the first quarter. Geneos Wealth Management Inc. now owns 895 shares of the business services provider’s stock worth $3,247,000 after buying an additional 74 shares during the last quarter. Team Hewins LLC increased its position in shares of Booking by 1.7% in the 1st quarter. Team Hewins LLC now owns 182 shares of the business services provider’s stock valued at $660,000 after acquiring an additional 3 shares during the period. Csenge Advisory Group raised its stake in Booking by 4.7% in the 1st quarter. Csenge Advisory Group now owns 67 shares of the business services provider’s stock worth $243,000 after acquiring an additional 3 shares during the last quarter. Signaturefd LLC lifted its position in Booking by 23.9% during the 1st quarter. Signaturefd LLC now owns 270 shares of the business services provider’s stock worth $980,000 after acquiring an additional 52 shares during the period. Finally, Catalina Capital Group LLC purchased a new stake in Booking during the 1st quarter valued at about $486,000. Hedge funds and other 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.