Barclays Trims Booking (NASDAQ:BKNG) Target Price to $2,090.00

Booking (NASDAQ:BKNG) had its target price dropped by investment analysts at Barclays from $2,160.00 to $2,090.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the business services provider’s stock. Barclays‘s target price points to a potential upside of 11.22% from the company’s previous close.

A number of other brokerages have also recently commented on BKNG. Raymond James cut Booking from an “outperform” rating to a “market perform” rating in a research note on Friday, October 25th. Evercore ISI reiterated a “neutral” rating on shares of Booking in a research note on Sunday, August 11th. Wells Fargo & Co cut Booking from an “outperform” rating to a “market perform” rating and increased their price target for the company from $2,000.00 to $2,150.00 in a research note on Thursday, September 26th. UBS Group increased their price target on Booking from $1,960.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Cowen reiterated a “top pick” rating and issued a $2,400.00 price target (up from $2,300.00) on shares of Booking in a research note on Friday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $2,114.40.

Booking stock opened at $1,879.19 on Friday. Booking has a 12 month low of $1,606.27 and a 12 month high of $2,081.81. The company has a market capitalization of $86.10 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.52 and a beta of 1.12. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.74. The stock’s 50 day moving average is $1,998.42 and its 200-day moving average is $1,899.20.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Thursday, November 7th. The business services provider reported $45.36 EPS for the quarter, beating the Zacks’ consensus estimate of $44.87 by $0.49. Booking had a return on equity of 56.70% and a net margin of 28.19%. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the prior year, the company earned $37.78 EPS. Booking’s revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts predict that Booking will post 101.98 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of BKNG. Prime Capital Investment Advisors LLC acquired a new stake in shares of Booking in the 3rd quarter valued at about $27,000. Gradient Investments LLC acquired a new stake in shares of Booking in the 3rd quarter valued at about $29,000. FNY Investment Advisers LLC acquired a new stake in shares of Booking in the 3rd quarter valued at about $29,000. Delta Asset Management LLC TN grew its stake in shares of Booking by 50.0% in the 3rd quarter. Delta Asset Management LLC TN now owns 15 shares of the business services provider’s stock valued at $29,000 after buying an additional 5 shares during the period. Finally, Squar Milner Financial Services LLC grew its stake in shares of Booking by 100.0% in the 3rd quarter. Squar Milner Financial Services LLC now owns 16 shares of the business services provider’s stock valued at $31,000 after buying an additional 8 shares during the period. 92.36% of the stock is owned by hedge funds and other institutional investors.

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.

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