Booking (NASDAQ:BKNG) Rating Lowered to Hold at StockNews.com

Booking (NASDAQ:BKNG) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other equities analysts have also issued research reports about the stock. Cfra upgraded shares of Booking from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. upped their price objective on shares of Booking from $5,575.00 to $5,750.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Morgan Stanley upped their price objective on shares of Booking from $4,600.00 to $5,000.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Wells Fargo & Company upped their price objective on shares of Booking from $4,470.00 to $5,248.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Finally, Erste Group Bank lowered shares of Booking from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Eleven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5,370.43.

Booking Stock Up 0.6 %

BKNG stock opened at $4,617.26 on Thursday. The firm has a market cap of $151.52 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 1.71 and a beta of 1.40. Booking has a 12-month low of $3,180.00 and a 12-month high of $5,337.24. The company’s fifty day simple moving average is $4,789.60 and its 200 day simple moving average is $4,694.74.

Booking (NASDAQ:BKNG) last released its earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $35.82 by $5.73. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.18 billion. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. Research analysts expect that Booking will post 209.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Garner Asset Management Corp lifted its position in 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 period. Optimist Retirement Group LLC lifted its position in 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 period. Covestor Ltd lifted its position in Booking by 6.9% during the fourth quarter. Covestor Ltd now owns 31 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 2 shares during the period. SageView Advisory Group LLC lifted its position in Booking by 1.6% during the fourth quarter. SageView Advisory Group LLC now owns 124 shares of the business services provider’s stock valued at $616,000 after purchasing an additional 2 shares during the period. Finally, Belpointe Asset Management LLC lifted its position in Booking by 2.2% during the fourth quarter. Belpointe Asset Management LLC now owns 95 shares of the business services provider’s stock valued at $472,000 after purchasing an additional 2 shares during the period. 92.42% of the stock is owned by 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.