Booking (NASDAQ:BKNG) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Booking (NASDAQ:BKNG) had its target price increased by Royal Bank of Canada from $5,250.00 to $5,900.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 18.25% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. UBS Group upped their target price on shares of Booking from $5,560.00 to $5,960.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird initiated coverage on shares of Booking in a research report on Wednesday, November 27th. They set an “outperform” rating and a $5,850.00 target price on the stock. Barclays upped their target price on shares of Booking from $5,100.00 to $5,600.00 and gave the stock an “overweight” rating in a research report on Friday. Baird R W upgraded shares of Booking to a “strong-buy” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company upped their target price on shares of Booking from $4,470.00 to $5,248.00 and gave the stock an “equal weight” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Booking has a consensus rating of “Moderate Buy” and an average target price of $5,370.43.

Booking Stock Down 0.6 %

Shares of Booking stock opened at $4,989.22 on Friday. Booking has a 52-week low of $3,180.00 and a 52-week high of $5,337.24. The company’s 50-day simple moving average is $4,903.34 and its 200-day simple moving average is $4,559.90. The firm has a market cap of $165.13 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 1.74 and a beta of 1.39.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $35.82 by $5.73. Booking had a net margin of 24.78% and a negative return on equity of 159.60%. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.18 billion. Equities research analysts anticipate that Booking will post 207.62 EPS for the current year.

Hedge Funds Weigh In On Booking

Institutional investors and hedge funds have recently modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Booking during the fourth quarter valued at approximately $25,000. New Wave Wealth Advisors LLC acquired a new position in Booking during the fourth quarter worth approximately $25,000. Summit Securities Group LLC acquired a new position in Booking during the fourth quarter worth approximately $30,000. Bernard Wealth Management Corp. acquired a new position in Booking during the fourth quarter worth approximately $30,000. Finally, Promus Capital LLC acquired a new position in Booking during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

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.