Cantor Fitzgerald Reiterates “Neutral” Rating for Booking (NASDAQ:BKNG)

Booking (NASDAQ:BKNG)‘s stock had its “neutral” rating reiterated by Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They currently have a $3,590.00 price objective on the business services provider’s stock. Cantor Fitzgerald’s price objective would suggest a potential downside of 14.06% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of Booking from $3,497.00 to $3,976.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Tigress Financial lifted their price target on Booking from $4,285.00 to $4,580.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 9th. Morgan Stanley upped their price objective on Booking from $4,000.00 to $4,200.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Bank of America decreased their target price on Booking from $3,950.00 to $3,750.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Truist Financial initiated coverage on shares of Booking in a report on Friday, September 6th. They issued a “hold” rating and a $4,100.00 target price for the company. Eleven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4,064.21.

Booking Price Performance

Shares of NASDAQ:BKNG opened at $4,177.56 on Monday. The business’s 50 day simple moving average is $3,773.44 and its 200 day simple moving average is $3,738.53. Booking has a 1 year low of $2,733.04 and a 1 year high of $4,182.79. The company has a market capitalization of $141.74 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.21 and a beta of 1.40.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 EPS for the quarter, topping analysts’ consensus estimates of $39.22 by $2.68. Booking had a negative return on equity of 200.87% and a net margin of 22.46%. The company had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter last year, the business earned $37.62 earnings per share. Booking’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Booking will post 176.92 EPS for the current fiscal year.

Insider Activity at Booking

In other Booking news, CEO Glenn D. Fogel sold 750 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the completion of the sale, the chief executive officer now directly owns 24,721 shares in the company, valued at approximately $100,556,375.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Paulo Pisano sold 100 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the transaction, the insider now owns 3,787 shares in the company, valued at approximately $14,722,379.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Glenn D. Fogel sold 750 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the transaction, the chief executive officer now directly owns 24,721 shares in the company, valued at $100,556,375.65. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Booking

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ICA Group Wealth Management LLC acquired a new stake in Booking in the 4th quarter valued at $25,000. Grove Bank & Trust raised its stake in shares of Booking by 133.3% in the second quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after purchasing an additional 4 shares during the last quarter. POM Investment Strategies LLC bought a new position in shares of Booking in the second quarter valued at approximately $28,000. Kings Path Partners LLC purchased a new position in shares of Booking during the second quarter valued at approximately $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Booking during the second quarter worth $32,000. Institutional investors own 92.42% of the company’s stock.

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.