Morgan Stanley Lowers Booking (NASDAQ:BKNG) Price Target to $2,100.00

Booking (NASDAQ:BKNG – Get Rating) had its price target dropped by investment analysts at Morgan Stanley from $2,820.00 to $2,100.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price target points to a potential upside of 14.23% from the company’s current price.

A number of other brokerages also recently issued reports on BKNG. Credit Suisse Group boosted their price objective on Booking from $2,850.00 to $2,985.00 in a research note on Thursday, May 5th. Jefferies Financial Group boosted their price objective on Booking from $2,800.00 to $2,900.00 and gave the company a “buy” rating in a research note on Wednesday, March 23rd. Gordon Haskett upgraded Booking from a “hold” rating to a “buy” rating in a research note on Thursday, February 24th. Piper Sandler boosted their price objective on Booking from $2,440.00 to $2,500.00 in a research note on Thursday, May 5th. Finally, The Goldman Sachs Group cut their price objective on Booking from $2,460.00 to $2,360.00 and set a “neutral” rating for the company in a research note on Thursday, June 9th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Booking currently has an average rating of “Moderate Buy” and a consensus target price of $2,726.48.

Shares of NASDAQ BKNG traded down $51.46 during midday trading on Thursday, hitting $1,838.38. 8,905 shares of the company’s stock traded hands, compared to its average volume of 372,260. Booking has a 1 year low of $1,796.45 and a 1 year high of $2,715.66. The stock has a market capitalization of $74.67 billion, a price-to-earnings ratio of 148.74, a price-to-earnings-growth ratio of 1.13 and a beta of 1.18. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.72 and a current ratio of 1.72. The firm has a fifty day moving average of $2,147.18 and a 200 day moving average of $2,260.35.

Booking (NASDAQ:BKNG – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The business services provider reported $3.90 EPS for the quarter, beating the consensus estimate of ($0.14) by $4.04. Booking had a net margin of 4.16% and a return on equity of 43.44%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the firm earned ($5.26) EPS. The business’s revenue for the quarter was up 136.6% compared to the same quarter last year. On average, equities analysts anticipate that Booking will post 100.71 earnings per share for the current year.

In other news, insider Paulo Pisano sold 120 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $2,100.00, for a total transaction of $252,000.00. Following the transaction, the insider now owns 3,003 shares in the company, valued at $6,306,300. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Glenn D. Fogel sold 200 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $2,000.20, for a total value of $400,040.00. Following the sale, the chief executive officer now directly owns 48,315 shares in the company, valued at approximately $96,639,663. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,403 shares of company stock worth $3,006,347. Insiders own 0.24% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Saturna Capital CORP boosted its holdings in Booking by 2.6% in the fourth quarter. Saturna Capital CORP now owns 158 shares of the business services provider’s stock worth $379,000 after acquiring an additional 4 shares in the last quarter. Enterprise Financial Services Corp raised its stake in shares of Booking by 2.4% in the fourth quarter. Enterprise Financial Services Corp now owns 169 shares of the business services provider’s stock worth $405,000 after purchasing an additional 4 shares during the last quarter. Moors & Cabot Inc. raised its stake in shares of Booking by 2.0% in the third quarter. Moors & Cabot Inc. now owns 250 shares of the business services provider’s stock worth $595,000 after purchasing an additional 5 shares during the last quarter. Summit X LLC raised its stake in shares of Booking by 1.3% in the fourth quarter. Summit X LLC now owns 398 shares of the business services provider’s stock worth $960,000 after purchasing an additional 5 shares during the last quarter. Finally, Bank of The West raised its stake in shares of Booking by 0.3% in the fourth quarter. Bank of The West now owns 1,537 shares of the business services provider’s stock worth $3,688,000 after purchasing an additional 5 shares during the last quarter. 89.48% of the stock is currently owned by institutional investors.

Booking Company Profile (Get Rating)

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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