In this article, we discuss 5 tech stocks that analysts are increasing the price targets of. If you want to see some more tech stocks that were favored by market experts recently, click Analysts Are Increasing Prices Targets of These 10 Tech Stocks.
5. Booking Holdings Inc. (NASDAQ:BKNG)
Number of Hedge Fund Holders: 92
Booking Holdings Inc. (NASDAQ:BKNG) is a Connecticut-based travel technology company that offers lodging and travel fare aggregators, with platforms including Booking.com, Priceline.com, Agoda.com, Kayak.com, Cheapflights, and Rentalcars.com.
Tigress Financial analyst Ivan Feinseth on April 19 raised the firm’s price target on Booking Holdings Inc. (NASDAQ:BKNG) to $3,210 from $3,150 and reiterated a Strong Buy rating on the shares, citing the “massive recovery” in global travel. The significant recovery, particularly in Europe, is advantageous for Booking Holdings Inc. (NASDAQ:BKNG) as it remains the company’s most profitable region, the analyst told investors.
Booking Holdings Inc. (NASDAQ:BKNG)’s financial results for Q4 2021 were posted on February 23. The company announced earnings per share of $15.83, exceeding analysts’ estimates by $2.31. Revenue over the period jumped roughly 141% year-over-year to $2.98 billion, outperforming market consensus by $128.20 million.
According to Insider Monkey’s fourth quarter database, 92 hedge funds placed long calls on Booking Holdings Inc. (NASDAQ:BKNG), compared to 96 funds in the previous quarter. The total stakes owned in Q4 2021 amounted to $7.72 billion. Harris Associates is the biggest position holder in the company, with 668,851 shares worth $1.60 million.
Here is what ClearBridge Investments Large Cap Value Strategy has to say about Booking Holdings Inc. (NASDAQ:BKNG) in its Q4 2021 investor letter:
“The pandemic created opportunities for us to be more aggressive in a variety of areas of the market. We were opportunistic throughout the year, for example, in positioning the portfolio to benefit from a flush consumer eager to return to spending and traveling. New positions included Booking Holdings, an online travel agency with industry-leading margins and a dominant footprint in Europe.”