Booking (NASDAQ:BKNG) Stock Rating Reaffirmed by Cantor Fitzgerald

Booking (NASDAQ:BKNG)‘s stock had its “neutral” rating reissued by research analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $3,590.00 price objective on the business services provider’s stock. Cantor Fitzgerald’s price objective would suggest a potential downside of 12.46% from the company’s current price.

Several other equities research analysts have also commented on BKNG. Deutsche Bank Aktiengesellschaft cut their price target on shares of Booking from $4,275.00 to $4,105.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Bank of America lowered their price objective on Booking from $3,950.00 to $3,750.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group cut shares of Booking from a “buy” rating to a “hold” rating and cut their price objective for the stock from $4,350.00 to $4,200.00 in a research report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $3,900.00 price target on shares of Booking in a research note on Monday, August 5th. Finally, Argus increased their price target on shares of Booking from $4,200.00 to $4,342.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Eleven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,064.21.

Booking Stock Down 2.6 %

Booking stock opened at $4,100.99 on Monday. Booking has a 52 week low of $2,733.04 and a 52 week high of $4,272.88. The firm has a market cap of $139.14 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.40. The business’s 50-day moving average price is $3,799.23 and its 200 day moving average price is $3,763.72.

Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share for the quarter, beating the consensus estimate of $39.22 by $2.68. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. The firm had revenue of $5.86 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same period in the previous year, the firm earned $37.62 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts expect that Booking will post 176.92 EPS for the current year.

Insider Activity at Booking

In other Booking news, insider Paulo Pisano sold 100 shares of Booking stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the completion of the transaction, the insider now owns 3,787 shares in the company, valued at $14,722,379.07. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Glenn D. Fogel sold 750 shares of Booking stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the completion of the sale, the chief executive officer now directly owns 24,721 shares in the company, valued at $100,556,375.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paulo Pisano sold 100 shares of Booking stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the sale, the insider now owns 3,787 shares of the company’s stock, valued at $14,722,379.07. The disclosure for this sale can be found here. Company insiders own 0.12% 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 company. Global Assets Advisory LLC purchased a new stake in Booking in the first quarter valued at approximately $401,371,000. New Mexico Educational Retirement Board grew its stake in Booking by 20.5% during the first quarter. New Mexico Educational Retirement Board now owns 2,348 shares of the business services provider’s stock worth $8,518,000 after buying an additional 400 shares during the period. Vinva Investment Management Ltd lifted its position in shares of Booking by 50.2% during the fourth quarter. Vinva Investment Management Ltd now owns 1,663 shares of the business services provider’s stock worth $5,904,000 after purchasing an additional 556 shares in the last quarter. CWM LLC lifted its position in shares of Booking by 14.2% during the first quarter. CWM LLC now owns 2,354 shares of the business services provider’s stock worth $8,540,000 after purchasing an additional 292 shares in the last quarter. Finally, CreativeOne Wealth LLC acquired a new position in shares of Booking during the first quarter worth $537,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

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.