Wedbush Raises Price Target for Booking to $4,750

Booking Holdings Inc. (NASDAQ:BKNG) recently received an upgrade from stock analysts at Wedbush, who increased their price target for the company's stock from $3,900.00 to $4,750.00. This change was announced in a report issued on Friday, and it reflects the firm’s positive outlook as they have assigned an "outperform" rating to the company's shares. The new price target implies a potential upside of approximately 9.11% from Booking's previous closing price.

Several other research analysts have also provided updates on Booking. For instance, Evercore ISI adjusted their target price down from $4,500.00 to $4,200.00 while maintaining an "outperform" rating. Cantor Fitzgerald reiterated a "neutral" rating along with a target price of $3,590.00 in a report released on October 7th. Additionally, Truist Financial began coverage of Booking with a "hold" rating and a price target of $4,100.00, and Morgan Stanley raised their target price from $4,000.00 to $4,200.00, giving it an "equal weight" rating. Jefferies Financial Group also made adjustments by increasing their target price from $4,200.00 to $4,300.00, alongside a "hold" rating.

Market Performance of Booking

During midday trading on Friday, Booking's stock saw an increase of $14.60, reaching a price of $4,353.33. The trading volume for the day was around 39,453 shares, which is significantly lower compared to the average volume of 244,315 shares. Booking has a market capitalization of $145.92 billion and currently displays a P/E ratio of 30.45, a PEG ratio of 1.33, and a beta of 1.40. Over the last year, the stock has experienced highs and lows, with a low of $2,733.04 and a high of $4,395.00.

Earnings Performance

Booking released its quarterly earnings on August 1, reporting earnings per share (EPS) of $41.90. This figure exceeded analysts' consensus expectation of $39.22 by $2.68. The company reported revenue of $5.86 billion for the quarter, which was also above expectations of $5.77 billion. Booking's net margin stood at 22.46%, although the return on equity was notably high at -200.87%. This represents a year-over-year revenue increase of 7.3%. For the current fiscal year, analysts predict that Booking will achieve an EPS of about 177.17.

Insider Transactions

In recent insider activities, Paulo Pisano, a company insider, sold 100 shares on August 27th at an average price of $3,887.61, amounting to a total transaction value of $388,761.00. Following this sale, Pisano's direct ownership in Booking now stands at 3,787 shares, which are valued at roughly $14.72 million.

Institutional Investment Insights

Recent trading activities have also been noted among institutional investors. For example, the New Mexico Educational Retirement Board increased its stake in Booking by 20.5% during the first quarter, now owning 2,348 shares valued at $8.52 million after acquiring an additional 400 shares. Other significant investments include CreativeOne Wealth LLC's new stake valued at $537,000, and BDF Gestion's new $6.9 million stake acquired in the second quarter. Currently, institutional investors own approximately 92.42% of Booking's stock.

About Booking Holdings

Booking Holdings Inc., previously known as The Priceline Group Inc., specializes in online reservations and related services for travel and dining. The company operates various brands, including Booking.com, priceline.com, and agoda.com, connecting consumers with travel services across the globe.

Booking, Wedbush, Stocks