Booking (NASDAQ:BKNG) Lowered to “Neutral” at Bank of America

Booking (NASDAQ:BKNGGet Rating) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, The Fly reports. They currently have a $2,700.00 price target on the business services provider’s stock, up from their prior price target of $2,250.00. Bank of America‘s price target indicates a potential upside of 12.39% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Susquehanna cut their target price on shares of Booking from $2,800.00 to $2,650.00 and set a “positive” rating for the company in a research report on Monday, November 7th. Credit Suisse Group cut their price objective on shares of Booking from $2,650.00 to $2,600.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. Morgan Stanley boosted their target price on shares of Booking from $2,150.00 to $2,300.00 and gave the company an “equal weight” rating in a report on Wednesday, January 18th. TheStreet upgraded Booking from a “c+” rating to a “b-” rating in a research report on Monday, December 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Booking to $2,370.00 and gave the company a “buy” rating in a research report on Thursday, November 3rd. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,475.62.

Booking Price Performance

Booking stock opened at $2,402.34 on Wednesday. The business’s 50 day simple moving average is $2,076.77 and its 200 day simple moving average is $1,935.26. Booking has a 12 month low of $1,616.85 and a 12 month high of $2,715.66. The company has a market cap of $93.19 billion, a price-to-earnings ratio of 39.45, a PEG ratio of 1.21 and a beta of 1.26. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 2.36.

Booking (NASDAQ:BKNGGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The business services provider reported $53.03 EPS for the quarter, beating analysts’ consensus estimates of $49.40 by $3.63. The firm had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.92 billion. Booking had a return on equity of 81.11% and a net margin of 15.23%. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $37.70 EPS. Sell-side analysts forecast that Booking will post 95.72 EPS for the current year.

Insider Buying and Selling at Booking

In other news, Director Radakovich Lynn Vojvodich sold 35 shares of the company’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $1,966.84, for a total value of $68,839.40. Following the completion of the transaction, the director now directly owns 758 shares in the company, valued at approximately $1,490,864.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO David I. Goulden sold 550 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $2,297.91, for a total transaction of $1,263,850.50. Following the transaction, the chief financial officer now owns 4,969 shares of the company’s stock, valued at approximately $11,418,314.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Radakovich Lynn Vojvodich sold 35 shares of the business’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $1,966.84, for a total transaction of $68,839.40. Following the completion of the sale, the director now directly owns 758 shares of the company’s stock, valued at $1,490,864.72. The disclosure for this sale can be found here. Insiders have sold 2,120 shares of company stock worth $4,893,155 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Booking

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dock Street Asset Management Inc. grew its position in Booking by 3.1% during the 4th quarter. Dock Street Asset Management Inc. now owns 2,948 shares of the business services provider’s stock worth $5,941,000 after acquiring an additional 88 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Booking in the fourth quarter worth approximately $232,000. Horst & Graben Wealth Management LLC purchased a new position in shares of Booking in the fourth quarter worth $212,000. Harbor Investment Advisory LLC raised its holdings in Booking by 3.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 194 shares of the business services provider’s stock valued at $391,000 after buying an additional 6 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in Booking by 7.3% during the 4th quarter. Empirical Finance LLC now owns 1,081 shares of the business services provider’s stock valued at $2,179,000 after buying an additional 74 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

About Booking

(Get Rating)

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.

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