JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Booking (NASDAQ:BKNG) Stock

Booking (NASDAQ:BKNG) had its price target boosted by JPMorgan Chase & Co. from $5,575.00 to $5,750.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 15.25% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley lifted their price objective on Booking from $4,600.00 to $5,000.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Truist Financial lifted their price objective on Booking from $4,100.00 to $4,700.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on Booking from $3,900.00 to $5,250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. The Goldman Sachs Group lifted their price objective on Booking from $3,940.00 to $4,510.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Bank of America lifted their price objective on Booking from $4,850.00 to $5,522.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Nine equities research 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 company. According to data from MarketBeat, Booking currently has a consensus rating of “Moderate Buy” and a consensus price target of $5,370.43.

Booking Price Performance

BKNG opened at $4,989.22 on Friday. The business has a fifty day simple moving average of $4,903.34 and a 200 day simple moving average of $4,559.90. The company has a market capitalization of $165.13 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 1.74 and a beta of 1.39. Booking has a 1 year low of $3,180.00 and a 1 year high of $5,337.24.

Booking (NASDAQ:BKNG) last released its quarterly 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 during the quarter, compared to the consensus estimate of $5.18 billion. Booking had a negative return on equity of 159.60% and a net margin of 24.78%. Equities analysts anticipate that Booking will post 207.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Booking

A number of institutional investors and hedge funds have recently bought and sold shares of BKNG. American Trust bought a new stake in shares of Booking in the 4th quarter valued at about $869,000. Ascent Group LLC grew its position in shares of Booking by 19.9% in the 4th quarter. Ascent Group LLC now owns 193 shares of the business services provider’s stock valued at $959,000 after buying an additional 32 shares during the last quarter. AlphaCore Capital LLC bought a new stake in shares of Booking in the 4th quarter valued at about $229,000. Mackenzie Financial Corp grew its position in shares of Booking by 24.1% in the 4th quarter. Mackenzie Financial Corp now owns 22,065 shares of the business services provider’s stock valued at $109,628,000 after buying an additional 4,280 shares during the last quarter. Finally, Forum Financial Management LP grew its position in shares of Booking by 32.9% in the 4th quarter. Forum Financial Management LP now owns 101 shares of the business services provider’s stock valued at $502,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds 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.