Booking (NASDAQ:BKNG) Stock Price Expected to Rise, Wedbush Analyst Says

Booking (NASDAQ:BKNG) had its target price increased by Wedbush from $5,000.00 to $5,500.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

Several other research analysts have also weighed in on the stock. Citigroup upped their price objective on shares of Booking from $4,100.00 to $5,500.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Bank of America increased their price objective on Booking from $4,850.00 to $5,522.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and set a $5,400.00 price objective on shares of Booking in a research report on Wednesday, December 11th. Piper Sandler upped their target price on Booking from $3,560.00 to $4,900.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price target on Booking from $3,976.00 to $4,173.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Ten investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Booking has a consensus rating of “Moderate Buy” and an average target price of $4,972.75.

Booking Price Performance

NASDAQ:BKNG opened at $4,909.79 on Monday. The stock has a market cap of $162.50 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.11 and a beta of 1.41. Booking has a fifty-two week low of $3,180.00 and a fifty-two week high of $5,337.24. The stock’s 50-day moving average is $5,040.76 and its two-hundred day moving average is $4,329.43.

Booking Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 6th were given a dividend of $8.75 per share. This represents a $35.00 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Friday, December 6th. Booking’s dividend payout ratio (DPR) is presently 23.75%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BKNG. Jamison Private Wealth Management Inc. acquired a new stake in shares of Booking during the 3rd quarter valued at about $25,000. West Financial Advisors LLC bought a new position in Booking during the third quarter worth about $29,000. Addison Advisors LLC boosted its holdings in Booking by 80.0% during the third quarter. Addison Advisors LLC now owns 9 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 4 shares in the last quarter. Fairscale Capital LLC acquired a new stake in Booking during the second quarter valued at approximately $41,000. Finally, Carmichael Hill & Associates Inc. grew its stake in shares of Booking by 66.7% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 10 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 4 shares during the period. 92.42% of the stock is 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.