Deutsche Bank Upgrades Booking (BKNG) to “Buy”

Booking (NASDAQ:BKNG) was upgraded by investment analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, February 5th, Marketbeat.com reports. The firm presently has a $2,370.00 price target on the business services provider’s stock, up from their previous price target of $2,150.00. Deutsche Bank’s price target would indicate a potential upside of 38.27% from the company’s current price.

BKNG has been the topic of several other reports. Morgan Stanley downgraded shares of Booking from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $2,100.00 to $2,050.00 in a report on Wednesday, January 9th. Royal Bank of Canada upped their price objective on shares of Booking to $2,425.00 and gave the company an “outperform” rating in a report on Tuesday, November 6th. Zacks Investment Research downgraded shares of Booking from a “buy” rating to a “hold” rating in a report on Friday, January 11th. Telsey Advisory Group started coverage on shares of Booking in a report on Wednesday, November 28th. They set an “outperform” rating and a $2,100.00 price objective on the stock. Finally, Wells Fargo & Co raised shares of Booking from a “market perform” rating to an “outperform” rating and set a $2,150.00 price objective on the stock in a report on Monday, November 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $2,179.04.

Shares of NASDAQ:BKNG traded up $17.04 during mid-day trading on Tuesday, hitting $1,714.08. The company had a trading volume of 1,246,513 shares, compared to its average volume of 307,847. The firm has a market capitalization of $88.51 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.39 and a beta of 1.14. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.99. Booking has a one year low of $1,606.27 and a one year high of $2,228.99.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Wednesday, February 27th. The business services provider reported $22.49 EPS for the quarter, beating the Zacks’ consensus estimate of $19.39 by $3.10. The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.23 billion. Booking had a net margin of 19.81% and a return on equity of 26.87%. Booking’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $16.86 EPS. On average, analysts anticipate that Booking will post 101.63 EPS for the current fiscal year.

In other Booking news, CEO Gillian Tans sold 294 shares of the firm’s stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $1,695.00, for a total transaction of $498,330.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Dodge & Cox increased its holdings in shares of Booking by 61.4% during the third quarter. Dodge & Cox now owns 1,111,386 shares of the business services provider’s stock valued at $2,204,990,000 after acquiring an additional 423,004 shares in the last quarter. Capital International Investors lifted its holdings in Booking by 108.7% in the 3rd quarter. Capital International Investors now owns 466,995 shares of the business services provider’s stock worth $926,518,000 after purchasing an additional 243,261 shares in the last quarter. FMR LLC lifted its holdings in Booking by 14.6% in the 2nd quarter. FMR LLC now owns 1,428,678 shares of the business services provider’s stock worth $2,896,058,000 after purchasing an additional 181,931 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Booking by 29.8% in the 3rd quarter. Alliancebernstein L.P. now owns 641,864 shares of the business services provider’s stock worth $1,273,458,000 after purchasing an additional 147,415 shares in the last quarter. Finally, Standard Life Aberdeen plc lifted its holdings in Booking by 357.8% in the 3rd quarter. Standard Life Aberdeen plc now owns 183,376 shares of the business services provider’s stock worth $364,230,000 after purchasing an additional 143,321 shares in the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

About Booking

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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