Analysts Elevate Price Target for Booking to $4,750

On Friday, analysts at Wedbush announced an increase in their price target for Booking Holdings (NASDAQ:BKNG). The new target has been set at $4,750, up from the previous target of $3,900. This marks a positive adjustment for the online travel and restaurant reservation service provider, reflecting optimism about the company's performance. Moreover, Wedbush has assigned an "outperform" rating to the stock, indicating expectations for it to perform better than the market average.

The price target set by Wedbush suggests that there is still room for growth, with a potential upside of approximately 9.11% based on the stock's most recent closing price.

Additional Analyst Ratings

Several other research analysts have also recently provided their insights on Booking's stock. For instance, Evercore ISI reduced their price target from $4,500 to $4,200 while maintaining an "outperform" rating in a report released earlier this month. Cantor Fitzgerald issued a "neutral" rating and set a target price of $3,590 in their analysis, while Truist Financial offered a "hold" rating with a target of $4,100.

Additionally, Morgan Stanley raised their price target from $4,000 to $4,200, endorsing an "equal weight" rating. Jefferies Financial Group also adjusted their price objective from $4,200 to $4,300, continuing to maintain a "hold" rating on the stock. Overall, the consensus from twenty-one research analysts is a buy rating, while eleven have rated it as a hold, contributing to an average rating classified as "Moderate Buy" along with an average target price of approximately $4,203.39.

Stock Performance and Market Insights

In trading on Friday, Booking's shares saw a modest increase, rising by $14.60 to reach $4,353.33. The trading volume for the day was around 39,453 shares, against an average volume of 244,315 shares. With a market capitalization of $145.92 billion, Booking has a P/E ratio of 30.45, a PEG ratio of 1.33, and a beta of 1.40.

The stock's performance in the past year has shown a low of $2,733.04 and a peak of $4,395.00. On August 1st, Booking released its quarterly earnings, reporting earnings of $41.90 per share, which exceeded the consensus estimate of $39.22. The company's revenue for that quarter achieved $5.86 billion, surpassing projections of $5.77 billion, and reflecting a 7.3% increase year-over-year.

Insider Transactions and Institutional Holdings

In related news, insider Paulo Pisano sold 100 shares of the company on August 27, valued at approximately $388,761. Following this transaction, he retains ownership of 3,787 shares currently worth around $14.72 million. Notably, company insiders hold about 0.12% of the stock.

Institutional investments have also played a significant role in the company's stock. New Mexico Educational Retirement Board notably increased its stake by 20.5% during the first quarter, now owning 2,348 shares valued at roughly $8.52 million. Other institutional investors, including CreativeOne Wealth LLC and BDF Gestion, have also made significant purchases, highlighting the strong interest in Booking's stock. Overall, institutional investors own approximately 92.42% of the company's shares.

Company Overview

Booking Holdings Inc, previously known as The Priceline Group Inc, specializes in providing online reservation and related services for travel and restaurant industries. The company connects consumers seeking travel reservations with service providers globally through its various platforms, including Booking.com and priceline.com, offering an extensive selection that ranges from hotels to vacation rentals.

Booking, Stock, PriceTarget