JPMorgan Chase & Co. Lowers Booking (NASDAQ:BKNG) Price Target to $2,100.00

Booking (NASDAQ:BKNG) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $2,125.00 to $2,100.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 11.75% from the stock’s previous close.

BKNG has been the subject of a number of other reports. Royal Bank of Canada reiterated an “outperform” rating and set a $2,100.00 price target (down from $2,150.00) on shares of Booking in a research report on Thursday, August 8th. Bank of America lowered shares of Booking from a “buy” rating to a “neutral” rating in a research note on Friday, November 1st. Wedbush raised their price objective on shares of Booking from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Friday. Deutsche Bank raised their price objective on shares of Booking from $2,250.00 to $2,350.00 and gave the company a “buy” rating in a research note on Friday. Finally, Evercore ISI reissued a “neutral” rating on shares of Booking in a research note on Sunday, August 11th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $2,114.40.

BKNG traded up $29.26 during midday trading on Friday, hitting $1,879.19. 1,033,700 shares of the company traded hands, compared to its average volume of 401,935. Booking has a 52-week low of $1,606.27 and a 52-week high of $2,081.81. The company has a market capitalization of $86.10 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.52 and a beta of 1.12. The business has a 50 day simple moving average of $1,998.42 and a two-hundred day simple moving average of $1,899.20. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.74.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Thursday, November 7th. The business services provider reported $45.36 earnings per share for the quarter, beating analysts’ consensus estimates of $44.87 by $0.49. Booking had a net margin of 28.19% and a return on equity of 56.70%. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same period last year, the business earned $37.78 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts anticipate that Booking will post 101.98 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of BKNG. Prime Capital Investment Advisors LLC purchased a new position in Booking in the third quarter worth approximately $27,000. Gradient Investments LLC purchased a new position in Booking in the third quarter worth approximately $29,000. FNY Investment Advisers LLC purchased a new position in Booking in the third quarter worth approximately $29,000. Delta Asset Management LLC TN lifted its stake in Booking by 50.0% in the third quarter. Delta Asset Management LLC TN now owns 15 shares of the business services provider’s stock worth $29,000 after acquiring an additional 5 shares during the last quarter. Finally, Squar Milner Financial Services LLC lifted its stake in Booking by 100.0% in the third quarter. Squar Milner Financial Services LLC now owns 16 shares of the business services provider’s stock worth $31,000 after acquiring an additional 8 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

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.

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