Zacks Investment Research lowered shares of Booking (NASDAQ:BKNG) from a buy rating to a hold rating in a research report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $2,153.00 target price on the business services provider’s stock.

According to Zacks, “Booking Holdings is riding on improving gross bookings. The company continues to witness solid growth in the booked room nights. Its rising mobile share and growing accommodation business are aiding total room nights bookings. Further, strong efforts toward ramping up of merchant business remain positive. We believe secular growth trend in the online travel booking market and growing mobile usage penetration are tailwinds. Moreover, the company’s strong position in international markets, growth opportunities in the domestic market and good execution of marketing strategies are major positives. Notably, the stock has outperformed its industry on a year-to-date basis. However, sluggishness in the rental car days poses risk. Moreover, macro headwinds, increasing advertising spend and occupancy tax-related litigation remain concerns.”

Several other equities research analysts have also recently weighed in on the stock. Evercore ISI restated a neutral rating on shares of Booking in a research report on Sunday, August 11th. Needham & Company LLC assumed coverage on shares of Booking in a research report on Monday, May 20th. They issued a buy rating and a $2,200.00 price target on the stock. Royal Bank of Canada restated an outperform rating and issued a $2,100.00 price target (down previously from $2,150.00) on shares of Booking in a research report on Thursday, August 8th. Barclays restated an overweight rating and issued a $2,140.00 price target (up previously from $2,080.00) on shares of Booking in a research report on Thursday, August 8th. Finally, Cleveland Research assumed coverage on shares of Booking in a research report on Wednesday, June 19th. They issued a neutral rating on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have issued a buy rating to the stock. Booking presently has a consensus rating of Hold and an average price target of $2,073.17.

Shares of Booking stock traded up $22.49 on Thursday, hitting $2,063.90. 268,148 shares of the company traded hands, compared to its average volume of 291,455. The stock has a market capitalization of $85.82 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 1.48 and a beta of 1.14. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.58 and a current ratio of 1.58. Booking has a 52 week low of $1,606.27 and a 52 week high of $2,067.07. The business has a 50-day simple moving average of $1,925.93 and a 200 day simple moving average of $1,833.81.

Booking (NASDAQ:BKNG) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported $23.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $22.80 by $0.79. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Booking had a net margin of 28.19% and a return on equity of 56.70%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $20.13 earnings per share. Research analysts expect that Booking will post 102.15 earnings per share for the current year.

In other Booking news, CEO Gillian Tans sold 606 shares of Booking stock in a transaction on Monday, June 17th. The shares were sold at an average price of $1,791.14, for a total transaction of $1,085,430.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of BKNG. USS Investment Management Ltd purchased a new stake in shares of Booking during the first quarter valued at $157,206,000. First Allied Advisory Services Inc. lifted its stake in Booking by 21.1% in the first quarter. First Allied Advisory Services Inc. now owns 821 shares of the business services provider’s stock worth $1,422,000 after acquiring an additional 143 shares during the period. Cetera Advisor Networks LLC lifted its stake in Booking by 24.1% in the first quarter. Cetera Advisor Networks LLC now owns 422 shares of the business services provider’s stock worth $732,000 after acquiring an additional 82 shares during the period. Chemical Bank lifted its stake in Booking by 1.4% in the first quarter. Chemical Bank now owns 732 shares of the business services provider’s stock worth $1,278,000 after acquiring an additional 10 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Booking by 13.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,148 shares of the business services provider’s stock worth $24,687,000 after acquiring an additional 1,624 shares during the period. 93.02% of the stock is owned by hedge funds and other 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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