Booking (NASDAQ:BKNG) Sets New 12-Month High Following Analyst Upgrade

Booking Holdings Inc. (NASDAQ:BKNG)’s stock price reached a new 52-week high during trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $4,200.00 to $4,300.00. Jefferies Financial Group currently has a hold rating on the stock. Booking traded as high as $4,395.00 and last traded at $4,381.67, with a volume of 82232 shares changing hands. The stock had previously closed at $4,363.72.

Other research analysts have also issued reports about the company. Benchmark cut their price objective on Booking from $4,700.00 to $4,600.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley raised their target price on Booking from $4,000.00 to $4,200.00 and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Wedbush raised their target price on Booking from $3,850.00 to $4,200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Evercore ISI lowered their target price on Booking from $4,500.00 to $4,200.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, JMP Securities raised their target price on Booking from $3,950.00 to $5,000.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 15th. Ten equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Booking has a consensus rating of “Moderate Buy” and an average price target of $4,133.75.

Insider Buying and Selling

In other Booking news, insider Paulo Pisano sold 100 shares of Booking stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the transaction, the insider now owns 3,787 shares in the company, valued at approximately $14,722,379.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Booking

Institutional investors and hedge funds have recently modified their holdings of the stock. Aspiriant LLC boosted its holdings in shares of Booking by 4.8% during the 1st quarter. Aspiriant LLC now owns 65 shares of the business services provider’s stock worth $236,000 after buying an additional 3 shares during the period. Consilio Wealth Advisors LLC boosted its holdings in Booking by 1.7% in the 1st quarter. Consilio Wealth Advisors LLC now owns 178 shares of the business services provider’s stock valued at $647,000 after purchasing an additional 3 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Booking by 30.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 13 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 3 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Booking by 14.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 24 shares of the business services provider’s stock valued at $87,000 after purchasing an additional 3 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in Booking by 1.9% in the 1st quarter. Proficio Capital Partners LLC now owns 157 shares of the business services provider’s stock valued at $570,000 after purchasing an additional 3 shares during the period. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Booking Stock Performance

The stock has a market cap of $146.74 billion, a P/E ratio of 30.65, a P/E/G ratio of 1.33 and a beta of 1.40. The stock’s fifty day simple moving average is $4,015.02 and its 200-day simple moving average is $3,835.37.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported $41.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.77 billion. During the same quarter in the previous year, the firm posted $37.62 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts forecast that Booking Holdings Inc. will post 177.05 earnings per share for the current year.

Booking Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a dividend of $8.75 per share. This represents a $35.00 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Friday, September 6th. Booking’s dividend payout ratio is 24.50%.

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.