Jefferies Financial Group cuts reservation price target (NASDAQ:BKNG) to $2,800.00

Reservation (NASDAQ:BKNG – Get a rating) had its target price reduced by equity analysts at Jefferies Financial Group from $3,000.00 to $2,800.00 in a research note released Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the shares of the business services provider. Jefferies Financial Group’s price target indicates a potential upside of 47.40% from the current share price.

A number of other brokerages have also weighed in on BKNG recently. Morgan Stanley raised its price target on Booking from $2,660.00 to $2,820.00 and gave the stock an “equal weight” rating in a Thursday, February 24 research note. Loop Capital cut its price target on shares of Booking from $2,290.00 to $2,171.00 and set a “holding” rating for the company in a Thursday, February 24 research report. Oppenheimer upgraded Booking from a “market performer” rating to an “outperformer” rating and set a target price of $2,560.00 for the company in a report released Wednesday. Goldman Sachs Group lowered its price target on Booking from $2,430.00 to $2,300.00 and set a “neutral” rating on the stock in a Thursday, February 24 report. Finally, UBS Group lowered its price target on Booking from $2,800.00 to $2,775.00 and placed a “buy” rating on the stock in a Thursday, February 24 research note. Eight investment analysts gave the stock a hold rating and nineteen gave the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $2,730.19.

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NASDAQ BKNG opened at $1,899.53 on Wednesday. The reservation has a 12-month minimum of $1,796.45 and a 12-month maximum of $2,715.66. The company has a market capitalization of $78.00 billion, a P/E ratio of 67.55, a PEG ratio of 1.18 and a beta of 1.21. The company’s 50-day simple moving average is $2,400.19 and its 200-day simple moving average is $2,372.61. The company has a debt ratio of 1.58, a current ratio of 2.10 and a quick ratio of 2.10.

Reservation (NASDAQ:BKNG – Get a rating) last released its quarterly results on Tuesday, February 22. The business services provider reported earnings per share (EPS) of $15.83 for the quarter, beating Thomson Reuters consensus estimate of $13.68 by $2.15. Booking had a net margin of 10.63% and a return on equity of 35.57%. The company posted revenue of $2.98 billion for the quarter, versus analyst estimates of $2.85 billion. In the same quarter a year earlier, the company posted ($0.57) earnings per share. The company’s quarterly revenue increased by 140.8% compared to the same quarter last year. On average, analysts expect Booking to post 88.47 earnings per share for the current year.

In other Booking news, CEO Glenn D. Fogel sold 750 shares of the company in a trade dated Wednesday, Dec. 15. The stock was sold at an average price of $2,120.03, for a total transaction of $1,590,022.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Also, CFO David I. Goulden sold 183 shares of the company in a transaction dated Tuesday, January 18. The shares were sold at an average price of $2,424.14, for a total transaction of $443,617.62. Disclosure of this sale can be found here. Insiders sold 1,866 shares of the company worth $4,235,026 during the last quarter. 0.27% of the shares are held by insiders of the company.

Several hedge funds and other institutional investors have recently increased or reduced their stakes in BKNG. Amplius Wealth Advisors LLC acquired a new position in shares of Booking during the fourth quarter worth approximately $26,000. Standard Family Office LLC acquired a new stock position in Booking during Q4 for a value of approximately $26,000. Gradient Investments LLC increased its stake in shares of Booking by 116.7% during the fourth quarter. Gradient Investments LLC now owns 13 shares of the business services provider worth $31,000 after buying 7 additional shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of Booking in the fourth quarter worth approximately $31,000. Finally, Covestor Ltd purchased a new stake in shares of Booking in the fourth quarter worth approximately $32,000. 89.79% of the shares are currently held by institutional investors.

About booking (Get a rating)

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of online travel and restaurant reservations and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with travel service providers around the world. It offers consumers a range of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its brands Booking.com, priceline.com and agoda.com.

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