Booking (NASDAQ:BKNG) Price Target Cut to $4,800.00 by Analysts at Morgan Stanley

Booking (NASDAQ:BKNG - Get Free Report) had its price objective dropped by equities researchers at Morgan Stanley from $5,000.00 to $4,800.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the business services provider's stock. Morgan Stanley's target price suggests a potential upside of 5.31% from the company's previous close.

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BKNG has been the subject of several other reports. Erste Group Bank cut shares of Booking from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Royal Bank of Canada increased their target price on Booking from $5,250.00 to $5,900.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Citigroup upped their price target on Booking from $5,500.00 to $5,800.00 and gave the company a "buy" rating in a research report on Friday, February 21st. DA Davidson raised their price objective on Booking from $5,005.00 to $5,800.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, JMP Securities reduced their price target on shares of Booking from $6,100.00 to $5,600.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. Eleven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5,278.66.

Read Our Latest Research Report on Booking

Booking Trading Up 0.4 %

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BKNG stock traded up $17.21 during trading hours on Thursday, hitting $4,558.05. 75,285 shares of the stock traded hands, compared to its average volume of 248,023. The stock has a 50-day simple moving average of $4,702.41 and a 200 day simple moving average of $4,768.98. Booking has a one year low of $3,180.00 and a one year high of $5,337.24. The company has a market cap of $149.57 billion, a P/E ratio of 26.44, a P/E/G ratio of 1.71 and a beta of 1.37.

Booking (NASDAQ:BKNG - Get Free Report) last released its earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating the consensus estimate of $35.82 by $5.73. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.18 billion. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. Analysts forecast that Booking will post 209.92 earnings per share for the current year.

Hedge Funds Weigh In On Booking

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Booking by 521,609.7% in the first quarter. GAMMA Investing LLC now owns 2,363,345 shares of the business services provider's stock worth $10,887,718,000 after purchasing an additional 2,362,892 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Booking by 621,874.8% during the 4th quarter. Proficio Capital Partners LLC now owns 864,545 shares of the business services provider's stock valued at $4,295,423,000 after acquiring an additional 864,406 shares in the last quarter. Norges Bank bought a new stake in Booking in the fourth quarter valued at about $1,958,352,000. Arrowstreet Capital Limited Partnership raised its position in Booking by 51.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 280,629 shares of the business services provider's stock worth $1,394,283,000 after purchasing an additional 95,308 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Booking by 18.8% during the fourth quarter. Northern Trust Corp now owns 368,628 shares of the business services provider's stock worth $1,831,499,000 after purchasing an additional 58,357 shares during the period. 92.42% of the stock is currently owned by institutional investors.

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.

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