Booking (NASDAQ:BKNG) Upgraded by Rosenblatt Securities to Strong-Buy Rating

Booking (NASDAQ:BKNG) was upgraded by stock analysts at Rosenblatt Securities to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

Other equities research analysts have also issued reports about the company. Cantor Fitzgerald raised their price objective on Booking from $175.00 to $220.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Wedbush upped their target price on Booking from $211.00 to $247.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. BTIG Research reiterated a “buy” rating and issued a $250.00 price target on shares of Booking in a research report on Thursday, August 27th. Benchmark lifted their price target on Booking from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Piper Sandler restated a “neutral” rating and set a $215.00 price objective (up from $195.00) on shares of Booking in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $236.70.

Booking Price Performance

NASDAQ BKNG opened at $195.69 on Monday. Booking has a 12 month low of $150.14 and a 12 month high of $226.10. The company has a market capitalization of $147.04 billion, a P/E ratio of 21.66, a PEG ratio of 1.23 and a beta of 1.07. The company’s 50 day simple moving average is $193.34 and its 200 day simple moving average is $177.91.

Booking (NASDAQ:BKNG) last issued its earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. The firm had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $55.40 earnings per share. On average, analysts anticipate that Booking will post 10.48 earnings per share for the current year.

Insider Activity

In other Booking news, VP Peter J. Millones sold 50,050 shares of Booking 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 transaction, the vice president owned 375,025 shares of the company’s stock, valued at $77,851,439.75. The trade was a 11.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 3,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $203.48, for a total value of $610,440.00. Following the completion of the transaction, the insider owned 73,400 shares in the company, valued at $14,935,432. This represents a 3.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 80,550 shares of company stock valued at $16,722,744 in the last ninety days. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in Booking by 34.9% in the 4th quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock worth $1,249,000 after buying an additional 65 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Booking during the 4th quarter valued at $209,000. Sivia Capital Partners LLC grew its holdings in shares of Booking by 25.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 165 shares of the business services provider’s stock valued at $955,000 after acquiring an additional 33 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in shares of Booking by 50.0% in the second quarter. Schnieders Capital Management LLC. now owns 87 shares of the business services provider’s stock worth $504,000 after acquiring an additional 29 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Booking in the second quarter worth $179,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Key Booking News

Here are the key news stories impacting Booking this week:

• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy rating and a $245 price target, implying roughly 25% upside from the referenced price. The firm views Booking as the best-positioned online travel agency despite industry challenges, offering a potential catalyst for the shares. Rosenblatt sees Booking as the best-positioned online travel agency
• Positive Sentiment: Booking’s quarterly results exceeded expectations, with earnings of $2.54 per share versus a $2.43 consensus estimate and revenue of $7.35 billion versus expectations of $7.19 billion. Revenue increased 8.1% year over year, supporting the view that the company continues to benefit from travel demand.
• Positive Sentiment: Booking declared a quarterly dividend of $0.42 per share, or $1.68 annualized, representing a yield of approximately 0.9%. While modest, the payout may appeal to income-oriented investors and reflects continued shareholder returns.
• Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The comments could provide insight into demand and booking patterns, but the available report does not indicate whether the trends were favorable or unfavorable for Booking. Priceline CEO discusses travel trends
• Negative Sentiment: Booking has underperformed the broader market this year, potentially reflecting investor concerns about online travel growth or valuation. The company’s stock was reported down 6.66% year to date as of September 1, compared with an 11.65% gain for the S&P 500. Booking underperformance and Rosenblatt coverage
• Negative Sentiment: Insider Paulo Pisano sold 3,000 shares for approximately $610,440, reducing his position by 3.93%. Because the transaction occurred under a pre-arranged Rule 10b5-1 trading plan, it is a relatively weak signal of bearish conviction, but it may still create modest selling-pressure concerns. Booking insider stock sale

Booking Company Profile

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.