Booking (BKNG) Stock Rating Reaffirmed by Credit Suisse Group

Credit Suisse Group restated their outperform rating on shares of Booking (NASDAQ:BKNG) in a research report sent to investors on Tuesday. Credit Suisse Group currently has a $2,240.00 target price on the business services provider’s stock, up from their previous target price of $2,100.00.

Several other research firms have also commented on BKNG. Zacks Investment Research upgraded shares of Booking from a sell rating to a hold rating in a research report on Tuesday, August 7th. Morgan Stanley restated an overweight rating and set a $2,200.00 price target (up previously from $2,100.00) on shares of Booking in a research report on Wednesday, July 11th. SunTrust Banks restated a buy rating and set a $2,300.00 price target on shares of Booking in a research report on Tuesday, July 10th. Bank of America raised their price target on shares of Booking from $2,150.00 to $2,300.00 and gave the company a buy rating in a research report on Tuesday. Finally, Barclays restated an overweight rating and set a $2,360.00 price target (up previously from $2,300.00) on shares of Booking in a research report on Tuesday. Thirteen investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $2,155.87.

Shares of Booking stock traded down $39.97 during trading on Tuesday, hitting $1,937.64. 368,133 shares of the company’s stock were exchanged, compared to its average volume of 474,319. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.41 and a quick ratio of 1.92. Booking has a 52-week low of $1,682.69 and a 52-week high of $2,228.99. The stock has a market cap of $92.57 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.58 and a beta of 1.22.

Booking (NASDAQ:BKNG) last issued its earnings results on Monday, November 5th. The business services provider reported $37.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $38.37 by ($0.59). The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Booking had a return on equity of 26.87% and a net margin of 19.81%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the business earned $34.43 EPS. As a group, equities analysts expect that Booking will post 89.68 EPS for the current year.

In other news, CEO Gillian Tans sold 295 shares of Booking stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $1,917.94, for a total value of $565,792.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in BKNG. Morgan Stanley grew its position in shares of Booking by 30.9% in the second quarter. Morgan Stanley now owns 993,158 shares of the business services provider’s stock valued at $2,013,218,000 after purchasing an additional 234,246 shares during the period. FMR LLC grew its position in shares of Booking by 14.6% in the second quarter. FMR LLC now owns 1,428,678 shares of the business services provider’s stock valued at $2,896,058,000 after purchasing an additional 181,931 shares during the period. Egerton Capital UK LLP acquired a new stake in shares of Booking in the second quarter valued at about $335,358,000. Alliancebernstein L.P. grew its position in shares of Booking by 29.8% in the third quarter. Alliancebernstein L.P. now owns 641,864 shares of the business services provider’s stock valued at $1,273,458,000 after purchasing an additional 147,415 shares during the period. Finally, Jennison Associates LLC grew its position in shares of Booking by 25.4% in the second quarter. Jennison Associates LLC now owns 589,299 shares of the business services provider’s stock valued at $1,194,562,000 after purchasing an additional 119,238 shares during the period. Institutional investors and hedge funds own 91.99% 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.

Further Reading: What is an Initial Public Offering (IPO)?

Analyst Recommendations for Booking (NASDAQ:BKNG)

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