Booking (NASDAQ:BKNG) Shares Up 7.5% – Still a Buy?

Booking Holdings Inc. (NASDAQ:BKNG) traded up 7.5% on Wednesday . The company traded as high as $180.20 and last traded at $181.6340. 1,061,513 shares traded hands during trading, a decline of 88% from the average session volume of 8,909,508 shares. The stock had previously closed at $168.94.

More Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: BTIG initiated a Buy rating on Booking Holdings, reinforcing the view that the travel platform still has attractive long-term fundamentals and can benefit from resilient demand and strong cash generation. Booking Holdings (BKNG) Gets a Buy from BTIG
• Positive Sentiment: Several bullish commentary pieces argued that the recent selloff in BKNG may be an opportunity, not a warning, with analysts pointing to robust cash flow, strong margins, and fair-to-attractive valuation around the low-20s earnings multiple. Booking Holdings: Selloff May Be More Of An Opportunity Than Warning
• Positive Sentiment: Booking shares previously surged after crude oil prices fell below $70, which investors viewed as a tailwind for travel demand because lower fuel costs can support more bookings and cheaper trips. Booking (BKNG) Shares Skyrocket, What You Need To Know
• Neutral Sentiment: One article compared Booking with RideNow Group, but it did not appear to introduce a new catalyst for BKNG. RideNow Group (NASDAQ:RDNW) versus Booking (NASDAQ:BKNG) Critical Analysis
• Negative Sentiment: Despite bullish takes, BKNG also drew a headline questioning whether AI could disintermediate online travel agencies, which may have contributed to investor caution even though the article argued the threat is overstated. Booking Holdings: The AI Disintermediation Threat Is Overstated

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Robert W. Baird cut their price objective on Booking from $234.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Barclays set a $210.00 price objective on Booking and gave the company an “overweight” rating in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft dropped their target price on Booking from $210.00 to $202.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Citigroup reduced their price target on shares of Booking from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Finally, Piper Sandler set a $195.00 price target on shares of Booking in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $227.14.

Booking Price Performance

The stock has a market capitalization of $137.19 billion, a P/E ratio of 23.29, a PEG ratio of 1.08 and a beta of 1.08. The stock has a 50 day moving average price of $169.14 and a 200-day moving average price of $182.74.

Booking (NASDAQ:BKNG) last released its earnings results on Tuesday, April 28th. The business services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The company had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.52 billion. Booking had a negative return on equity of 117.14% and a net margin of 22.23%.Booking’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 EPS. Research analysts predict that Booking Holdings Inc. will post 10.44 earnings per share for the current fiscal year.

Booking Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a $0.42 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.68 annualized dividend and a yield of 0.9%. Booking’s payout ratio is presently 22.11%.

Insider Activity

In other news, VP Peter J. Millones sold 62,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total value of $10,229,375.00. Following the transaction, the vice president owned 425,075 shares in the company, valued at approximately $69,572,025.25. This trade represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Ames Wittman sold 1,125 shares of Booking stock in a transaction on Friday, April 17th. The stock was sold at an average price of $192.00, for a total transaction of $216,000.00. Following the completion of the transaction, the director directly owned 16,050 shares in the company, valued at approximately $3,081,600. The trade was a 6.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 80,351 shares of company stock valued at $13,545,706. 0.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Booking

Hedge funds have recently modified their holdings of the company. Monetary Management Group Inc. increased its holdings in Booking by 1.1% during the 3rd quarter. Monetary Management Group Inc. now owns 188 shares of the business services provider’s stock valued at $1,015,000 after purchasing an additional 2 shares during the period. Elgethun Capital Management lifted its holdings in Booking by 2.1% in the 3rd quarter. Elgethun Capital Management now owns 97 shares of the business services provider’s stock worth $517,000 after buying an additional 2 shares during the period. First Western Trust Bank grew its position in shares of Booking by 3.4% in the 3rd quarter. First Western Trust Bank now owns 60 shares of the business services provider’s stock worth $324,000 after buying an additional 2 shares during the last quarter. CGN Advisors LLC grew its position in shares of Booking by 3.6% in the 4th quarter. CGN Advisors LLC now owns 57 shares of the business services provider’s stock worth $305,000 after buying an additional 2 shares during the last quarter. Finally, Howard Financial Services LTD. increased its stake in shares of Booking by 1.4% during the fourth quarter. Howard Financial Services LTD. now owns 140 shares of the business services provider’s stock valued at $750,000 after buying an additional 2 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

About Booking

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.