Booking (NASDAQ:BKNG) Rating Lowered to Hold at Wall Street Zen

Booking (NASDAQ:BKNG) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Several other equities research analysts have also recently weighed in on the company. UBS Group set a $6,485.00 price objective on Booking and gave the stock a “buy” rating in a research note on Thursday, February 19th. Gordon Haskett dropped their target price on Booking from $5,440.00 to $5,370.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Cantor Fitzgerald reissued a “neutral” rating and set a $4,495.00 target price (down from $5,830.00) on shares of Booking in a research report on Thursday, February 19th. DA Davidson decreased their price target on Booking from $6,600.00 to $6,000.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Finally, Robert W. Baird set a $5,850.00 price target on Booking in a research report on Thursday, February 19th. Twenty-nine equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5,845.61.

Booking Stock Performance

Shares of BKNG opened at $4,062.14 on Friday. The stock has a market capitalization of $128.65 billion, a PE ratio of 24.45, a P/E/G ratio of 0.93 and a beta of 1.21. The company’s fifty day moving average is $4,458.66 and its 200 day moving average is $4,957.14. Booking has a fifty-two week low of $3,765.45 and a fifty-two week high of $5,839.41.

Booking’s stock is scheduled to split on Monday, April 6th. The 25-1 split was announced on Wednesday, February 18th. The newly issued shares will be distributed to shareholders after the closing bell on Thursday, April 2nd.

Booking (NASDAQ:BKNG) last posted its earnings results on Wednesday, February 18th. The business services provider reported $48.80 earnings per share for the quarter, topping analysts’ consensus estimates of $47.96 by $0.84. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.12 billion. Booking had a net margin of 20.08% and a negative return on equity of 128.99%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $41.55 EPS. As a group, research analysts forecast that Booking will post 209.92 earnings per share for the current year.

Insider Transactions at Booking

In related news, Director Vanessa Ames Wittman sold 15 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $5,191.15, for a total transaction of $77,867.25. Following the completion of the transaction, the director owned 687 shares in the company, valued at $3,566,320.05. The trade was a 2.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Mylod, Jr. sold 40 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $5,105.36, for a total value of $204,214.40. Following the completion of the transaction, the director directly owned 840 shares in the company, valued at $4,288,502.40. This trade represents a 4.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,749 shares of company stock worth $12,571,467. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of Booking

Institutional investors and hedge funds have recently made changes to their positions in the business. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Booking during the third quarter valued at $26,000. Halbert Hargrove Global Advisors LLC increased its stake in Booking by 150.0% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 5 shares of the business services provider’s stock worth $27,000 after buying an additional 3 shares during the period. Guerra Advisors Inc bought a new stake in Booking during the 3rd quarter valued at about $27,000. Daytona Street Capital LLC bought a new stake in Booking during the 4th quarter valued at about $27,000. Finally, Legacy Bridge LLC purchased a new stake in Booking in the 4th quarter valued at about $27,000. 92.42% of the stock is currently owned by institutional investors.

About Booking

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.