Wells Fargo & Company Issues Pessimistic Forecast for Booking (NASDAQ:BKNG) Stock Price

Booking (NASDAQ:BKNG) had its price objective dropped by equities research analysts at Wells Fargo & Company from $4,657.00 to $4,470.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 9.27% from the company’s previous close.

Other equities analysts have also issued reports about the company. Citigroup boosted their price target on Booking from $4,100.00 to $5,500.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Tigress Financial lifted their price objective on Booking from $4,580.00 to $5,600.00 and gave the stock a “strong-buy” rating in a report on Monday, November 18th. Baird R W upgraded Booking to a “strong-buy” rating in a report on Wednesday, November 27th. Susquehanna lifted their price objective on Booking from $4,100.00 to $5,500.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group lifted their price objective on Booking from $3,940.00 to $4,510.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Booking presently has an average rating of “Moderate Buy” and a consensus target price of $4,997.64.

Booking Price Performance

NASDAQ BKNG opened at $4,926.80 on Thursday. The firm has a market capitalization of $163.08 billion, a P/E ratio of 33.43, a P/E/G ratio of 1.60 and a beta of 1.41. Booking has a 1-year low of $3,180.00 and a 1-year high of $5,337.24. The business’s 50-day simple moving average is $5,052.51 and its 200-day simple moving average is $4,370.55.

Institutional Investors Weigh In On Booking

Several hedge funds have recently modified their holdings of the stock. Garner Asset Management Corp lifted its holdings in shares of Booking by 0.8% during the third quarter. Garner Asset Management Corp now owns 258 shares of the business services provider’s stock valued at $1,087,000 after purchasing an additional 2 shares during the last quarter. Optimist Retirement Group LLC lifted its holdings in shares of Booking by 2.2% during the third quarter. Optimist Retirement Group LLC now owns 91 shares of the business services provider’s stock valued at $383,000 after purchasing an additional 2 shares during the last quarter. Quent Capital LLC lifted its holdings in shares of Booking by 2.7% during the third quarter. Quent Capital LLC now owns 113 shares of the business services provider’s stock valued at $477,000 after purchasing an additional 3 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Booking by 23.1% during the third quarter. Hexagon Capital Partners LLC now owns 16 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 3 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Booking by 1.0% during the third quarter. Valeo Financial Advisors LLC now owns 292 shares of the business services provider’s stock valued at $1,229,000 after purchasing an additional 3 shares during the last quarter. 92.42% of the stock is 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.