Citigroup Raises Price Target for Booking (NASDAQ:BKNG) Stock

Citigroup has recently increased its price target for Booking Holdings Inc. (NASDAQ:BKNG) from $4,100.00 to $5,500.00, assigning a "buy" rating in a report released on Monday. This new price target suggests a potential upside of 14.92% from the stock's current price.

Analyst Revisions

Alongside Citigroup's report, several other research firms have also adjusted their targets for Booking. B. Riley raised its price objective from $4,650.00 to $5,100.00 with a "buy" rating. Similarly, Oppenheimer has increased its target from $5,000.00 to $5,500.00 and maintained an "outperform" rating on the stock. On the other hand, Goldman Sachs updated its rating from $3,940.00 to $4,510.00 with a "neutral" stance, while Evercore ISI lowered its target from $4,500.00 to $4,200.00 but still rated it as "outperform." Additionally, Tigress Financial raised its price target from $4,285.00 to $4,580.00, assigning a "strong-buy" rating. Overall, twelve analysts have rated Booking with a hold rating, twenty-one have issued a buy rating, and one has given a strong buy rating, leading to an average rating of "Moderate Buy" with a consensus target price of $4,708.45.

Stock Performance

On Monday, shares of Booking were trading up by 0.8%, reaching a price of $4,785.96. The trading volume was approximately 86,102 shares, compared to the average volume of 246,670. Over the past year, Booking's stock has seen a low of $2,888.45 and a high of $4,856.60. The company has a market capitalization of $158.42 billion, a P/E ratio of 32.40, and a price-to-earnings-growth ratio of 1.52.

Recent Earnings Report

Booking recently released its quarterly earnings on August 1st, reporting an earnings per share (EPS) of $41.90. This exceeded the consensus estimate of $39.22 by $2.68. The company's revenue for the quarter was $5.86 billion, which surpassed the consensus estimate of $5.77 billion, reflecting a year-over-year increase of 7.3%. Analysts predict that Booking will post an EPS of 177.79 for the current fiscal year.

Insider Trading Activity

In related news, insider Paulo Pisano sold 100 shares of Booking's stock on August 27th at an average price of $3,887.61, resulting in a transaction total of $388,761. Following this sale, Pisano retains ownership of 3,787 shares valued at over $14.7 million. Currently, corporate insiders own approximately 0.12% of the company's stock.

Institutional Investor Moves

Recently, several institutional investors have made changes to their stakes in Booking. Jamison Private Wealth Management Inc. purchased shares valued at $25,000, while Grove Bank & Trust increased its holdings by 133.3%, now owning 7 shares worth $28,000 after acquiring additional shares. POM Investment Strategies LLC, Kings Path Partners LLC, and West Financial Advisors LLC have also invested in Booking, with each valuing their newly acquired stakes at around $28,000 to $29,000. Overall, institutional investors hold approximately 92.42% of the stock.

About Booking Holdings Inc.

Booking Holdings Inc., previously known as The Priceline Group Inc., is a leading provider of online reservation services in the travel and restaurant sectors. Through its online platforms, it connects consumers looking to book travel with various service providers worldwide, offering a variety of accommodation options including hotels, apartments, and vacation rentals through brands like Booking.com, priceline.com, and agoda.com.

Citigroup, Booking, Stock