JMP Securities Reiterates “Market Outperform” Rating for Booking (NASDAQ:BKNG)

JMP Securities reissued their market outperform rating on shares of Booking (NASDAQ:BKNG) in a research report report published on Monday, Benzinga reports. They currently have a $3,950.00 price target on the business services provider’s stock.

A number of other brokerages also recently issued reports on BKNG. Oppenheimer increased their price target on shares of Booking from $3,450.00 to $4,200.00 and gave the stock an outperform rating in a report on Monday, February 5th. Wedbush reissued an outperform rating and set a $3,850.00 target price on shares of Booking in a research note on Tuesday, April 30th. DA Davidson lifted their price target on Booking from $4,100.00 to $4,150.00 and gave the company a buy rating in a research note on Friday, May 3rd. BMO Capital Markets reiterated an outperform rating and set a $4,205.00 price target (up previously from $4,150.00) on shares of Booking in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Booking from $3,950.00 to $4,025.00 and gave the company an overweight rating in a research report on Friday, May 3rd. Ten equities 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.com, the stock has an average rating of Moderate Buy and a consensus price target of $3,876.96.

Booking Stock Performance

NASDAQ BKNG opened at $3,660.00 on Monday. The firm has a market capitalization of $124.18 billion, a P/E ratio of 27.45, a PEG ratio of 1.08 and a beta of 1.40. The stock has a 50-day simple moving average of $3,528.95 and a two-hundred day simple moving average of $3,418.38. Booking has a fifty-two week low of $2,456.93 and a fifty-two week high of $3,918.00.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Thursday, May 2nd. The business services provider reported $20.39 earnings per share for the quarter, beating the consensus estimate of $14.03 by $6.36. Booking had a negative return on equity of 288.35% and a net margin of 21.81%. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same period last year, the business earned $11.60 earnings per share. Booking’s quarterly revenue was up 16.9% on a year-over-year basis. As a group, analysts forecast that Booking will post 176.46 earnings per share for the current year.

Booking Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $8.75 dividend. This represents a $35.00 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, June 7th. Booking’s payout ratio is currently 26.25%.

Insiders Place Their Bets

In other news, insider Paulo Pisano sold 300 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $3,485.00, for a total transaction of $1,045,500.00. Following the transaction, the insider now owns 4,233 shares of the company’s stock, valued at approximately $14,752,005. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Paulo Pisano sold 300 shares of Booking stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $3,485.00, for a total transaction of $1,045,500.00. Following the sale, the insider now owns 4,233 shares of the company’s stock, valued at approximately $14,752,005. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Radakovich Lynn Vojvodich sold 28 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $3,498.29, for a total value of $97,952.12. Following the completion of the transaction, the director now owns 233 shares in the company, valued at $815,101.57. The disclosure for this sale can be found here. Insiders sold 5,424 shares of company stock valued at $18,673,145 in the last three months. 0.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Booking

Hedge funds have recently modified their holdings of the business. WP Advisors LLC raised its holdings in Booking by 1.0% in the 1st quarter. WP Advisors LLC now owns 681 shares of the business services provider’s stock valued at $2,469,000 after buying an additional 7 shares during the period. Koshinski Asset Management Inc. purchased a new stake in shares of Booking in the 1st quarter valued at approximately $323,000. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Booking by 38.8% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 454 shares of the business services provider’s stock worth $1,647,000 after acquiring an additional 127 shares during the last quarter. MAI Capital Management boosted its position in shares of Booking by 26.3% during the 1st quarter. MAI Capital Management now owns 10,313 shares of the business services provider’s stock worth $37,414,000 after purchasing an additional 2,145 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. increased its holdings in Booking by 4.6% in the 1st quarter. Baltimore Washington Financial Advisors Inc. now owns 4,865 shares of the business services provider’s stock valued at $17,651,000 after purchasing an additional 212 shares during the last quarter. 92.42% of the stock is currently owned by hedge funds and other 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.