Benchmark Forecasts Strong Price Appreciation for Booking (NASDAQ:BKNG) Stock

Booking (NASDAQ:BKNG) had its price target lifted by Benchmark from $5,000.00 to $5,900.00 in a research note published on Friday,Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

Several other analysts also recently weighed in on BKNG. Susquehanna lifted their target price on shares of Booking from $4,100.00 to $5,500.00 and gave the company a “positive” rating in a report on Friday, November 1st. Oppenheimer lifted their price objective on Booking from $5,500.00 to $6,000.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Royal Bank of Canada increased their target price on Booking from $3,900.00 to $5,250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Baird R W upgraded Booking to a “strong-buy” rating in a report on Wednesday, November 27th. Finally, B. Riley boosted their price target on shares of Booking from $5,700.00 to $6,000.00 and gave the stock a “buy” rating in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5,370.43.

Booking Stock Down 0.6 %

NASDAQ:BKNG opened at $4,989.22 on Friday. The company has a market capitalization of $165.14 billion, a P/E ratio of 33.86, a P/E/G ratio of 1.77 and a beta of 1.39. Booking has a 52 week low of $3,180.00 and a 52 week high of $5,337.24. The stock’s fifty day moving average is $4,903.34 and its two-hundred day moving average is $4,551.96.

Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating analysts’ consensus estimates of $35.82 by $5.73. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Booking had a net margin of 21.85% and a negative return on equity of 166.06%. Sell-side analysts anticipate that Booking will post 181.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Booking

Several hedge funds have recently added to or reduced their stakes in the stock. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Booking in the 4th quarter valued at $25,000. New Wave Wealth Advisors LLC purchased a new stake in Booking in the fourth quarter valued at $25,000. Summit Securities Group LLC acquired a new position in Booking in the fourth quarter valued at $30,000. Bernard Wealth Management Corp. acquired a new position in Booking in the fourth quarter valued at $30,000. Finally, Promus Capital LLC purchased a new position in shares of Booking during the fourth quarter worth about $35,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

About Booking

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.