Booking (NASDAQ:BKNG) Reaches New 12-Month High - Is It a Good Investment?

Booking Holdings Inc. (NASDAQ:BKNG) recently achieved a significant milestone by hitting a new 52-week high during midday trading on Tuesday. The stock reached a peak of $4,398.00 before closing slightly lower at $4,394.02, with a trading volume of 29,407 shares. This is an increase from the previous close of $4,347.59.

Recent Analyst Ratings

The performance of BKNG shares has caught the attention of several analysts. JMP Securities has raised their price target for Booking from $3,950.00 to $5,000.00 and rated the stock as "market outperform" on October 15th. Similarly, Wells Fargo & Company revised their price target upward from $3,976.00 to $4,173.00, giving the company an "equal weight" rating in a report published on October 8th.

Meanwhile, JPMorgan Chase & Co. downgraded their price objective for Booking from $4,025.00 to $3,860.00 but maintained an "overweight" rating in their report dated August 2nd. Oppenheimer, on the other hand, upped their target price from $4,200.00 to $5,000.00, rating it as "outperform". Deutsche Bank Aktiengesellschaft also lowered their target price from $4,275.00 to $4,105.00 while maintaining a "buy" rating. Overall, 11 analysts suggest holding the stock, while 21 recommend buying it, and one analyst has given it a strong buy rating. The consensus among analysts is a "Moderate Buy" with an average price target of $4,256.89.

Stock Performance Overview

Booking's stock has demonstrated an increase of 1.9% recently. The company's 50-day simple moving average stands at $4,071.40, while its 200-day simple moving average is $3,856.08. Booking Holdings boasts a market capitalization of $148.48 billion, a P/E ratio of 30.76, and a price-to-earnings-growth ratio of 1.44, with a beta of 1.40.

In its latest earnings report for the quarter ending August 1st, Booking Holdings reported earnings per share (EPS) of $41.90, surpassing the anticipated $39.22 by a notable margin. The company generated revenue of $5.86 billion, which also exceeded analysts' expectations of $5.77 billion. Although the company faced a negative return on equity of 200.87%, it managed a net margin of 22.46%, with year-over-year revenue growth of 7.3%. For the current fiscal year, analysts predict Booking Holdings will post an EPS of 177.29.

Dividend Information

Recently, Booking announced a quarterly dividend payment, which was distributed on September 30th to shareholders on record as of September 6th. The dividend amount was $8.75 per share, leading to an annualized dividend of $35.00, which equates to a yield of 0.79%. The company has a dividend payout ratio of 24.50%.

Insider Transactions

In other news, insider Paulo Pisano executed a stock sale on August 27th, where he sold 100 shares at an average price of $3,887.61, totaling $388,761.00. Following this transaction, Pisano holds 3,787 shares valued at approximately $14,722,379.07. This trade represented no significant change in his position as 0.12% of the stock is held by company insiders.

Institutional Ownership Changes

A number of institutional investors have recently adjusted their holdings in Booking. VELA Investment Management LLC increased its stake in Booking by 55.6% in the third quarter, now owning 336 shares valued at $1,415,000 after acquiring 120 additional shares. Chicago Partners Investment Group LLC entered a new position in Booking during the same quarter, valued at $315,000.

Farther Finance Advisors LLC raised its position by 5.8%, now holding 478 shares worth $2,015,000 after an additional purchase of 26 shares. Gladstone Institutional Advisory LLC increased its stake by 27.3%, owning 718 shares valued at $3,025,000 after buying 154 extra shares. Lastly, Principal Securities Inc. boosted its holdings by 3.9%, acquiring an additional 99 shares, leading to 2,623 shares worth about $11,050,000. Overall, institutional investors control 92.42% of the company's stock.

Company Background

Booking Holdings Inc. is formerly known as The Priceline Group Inc. and serves as a provider of online reservation and related services in the travel and restaurant sectors. The company connects consumers looking to make travel arrangements with service providers globally. Through popular brands such as Booking.com, priceline.com, and agoda.com, Booking offers a wide array of accommodation options including hotels, bed and breakfasts, hostels, apartments, and vacation rentals.

Conclusion

Given the recent performance and analyst ratings for Booking (NASDAQ:BKNG), potential investors may be contemplating whether this stock is worth purchasing. While there is a consensus rating of "Moderate Buy," other investment opportunities may come highly recommended by top analysts. Therefore, investors should conduct thorough research before making any decisions.

Booking, Earnings, Investment