Piper Jaffray Companies Reiterates “Overweight” Rating for Booking (BKNG)

Piper Jaffray Companies reiterated their overweight rating on shares of Booking (NASDAQ:BKNG) in a report published on Thursday, The Fly reports. The brokerage currently has a $2,100.00 target price on the business services provider’s stock.

Several other analysts have also recently issued reports on the stock. SunTrust Banks upped their price target on shares of Booking from $2,350.00 to $2,380.00 and gave the company a buy rating in a report on Friday, April 13th. Zacks Investment Research cut shares of Booking from a hold rating to a sell rating in a report on Saturday, July 14th. ValuEngine cut shares of Booking from a buy rating to a hold rating in a report on Friday, May 18th. Wells Fargo & Co reaffirmed a hold rating and issued a $2,050.00 price target on shares of Booking in a report on Monday, May 7th. Finally, Oppenheimer upped their price target on shares of Booking from $2,275.00 to $2,500.00 and gave the company an outperform rating in a report on Thursday, May 3rd. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $2,154.45.

BKNG traded down $44.73 during trading on Thursday, hitting $1,897.66. The company had a trading volume of 936,037 shares, compared to its average volume of 432,801. The stock has a market capitalization of $93.57 billion, a PE ratio of 24.64, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.14 and a quick ratio of 2.14. Booking has a 1-year low of $1,630.56 and a 1-year high of $2,228.99.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Thursday, August 9th. The business services provider reported $20.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $17.34 by $3.33. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Booking had a net margin of 20.07% and a return on equity of 24.14%. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the company posted $24.39 earnings per share. equities research analysts forecast that Booking will post 88.65 earnings per share for the current fiscal year.

In other Booking news, CEO Gillian Tans sold 295 shares of the stock in a transaction on Friday, June 15th. The shares were sold at an average price of $2,126.07, for a total transaction of $627,190.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the business. Progressive Investment Management Corp acquired a new stake in shares of Booking in the 1st quarter worth about $4,521,000. Global X Management Co. LLC acquired a new stake in shares of Booking in the 1st quarter worth about $1,741,000. Ashfield Capital Partners LLC acquired a new stake in shares of Booking in the 1st quarter worth about $4,298,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Booking in the 1st quarter worth about $123,550,000. Finally, HL Financial Services LLC acquired a new stake in shares of Booking in the 1st quarter worth about $1,063,000. 91.50% of the stock is currently owned by 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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Analyst Recommendations for Booking (NASDAQ:BKNG)

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