The Priceline Group Inc. (NASDAQ:PCLN) has been given a $2,070.00 target price by investment analysts at Credit Suisse Group in a research note issued on Wednesday. The firm currently has a “buy” rating on the business services provider’s stock. Credit Suisse Group’s price objective indicates a potential upside of 1.02% from the stock’s current price.
A number of other research firms have also issued reports on PCLN. Morgan Stanley upped their target price on The Priceline Group from $1,950.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. Cowen and Company reaffirmed an “outperform” rating and issued a $2,000.00 target price on shares of The Priceline Group in a research note on Tuesday, May 23rd. Vetr raised The Priceline Group from a “hold” rating to a “buy” rating and set a $1,875.00 target price on the stock in a research note on Wednesday, May 17th. J P Morgan Chase & Co upped their target price on The Priceline Group from $1,940.00 to $2,125.00 and gave the company an “overweight” rating in a research note on Wednesday, May 10th. Finally, Benchmark Co. reaffirmed a “buy” rating and issued a $2,050.00 target price (up previously from $1,900.00) on shares of The Priceline Group in a research note on Sunday, May 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,898.41.
The Priceline Group (NASDAQ:PCLN) opened at 2049.00 on Wednesday. The firm has a market cap of $100.69 billion, a PE ratio of 46.26 and a beta of 1.42. The Priceline Group has a one year low of $1,392.44 and a one year high of $2,067.99. The firm’s 50 day moving average price is $1,937.58 and its 200-day moving average price is $1,795.67.
The Priceline Group (NASDAQ:PCLN) last posted its earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.25 by $0.89. The Priceline Group had a return on equity of 33.94% and a net margin of 20.12%. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the company earned $13.93 EPS. The Priceline Group’s revenue was up 18.3% on a year-over-year basis. Equities analysts predict that The Priceline Group will post $74.20 EPS for the current fiscal year.
In other The Priceline Group news, Director Jan L. Docter sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the completion of the transaction, the director now directly owns 346 shares of the company’s stock, valued at approximately $642,753.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $1,814.00, for a total transaction of $221,308.00. Following the completion of the transaction, the chief executive officer now directly owns 6,044 shares of the company’s stock, valued at $10,963,816. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,744 shares of company stock valued at $3,245,648. 0.42% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Shine Investment Advisory Services Inc. purchased a new position in The Priceline Group during the second quarter worth $105,000. Hartford Financial Management Inc. purchased a new position in The Priceline Group during the first quarter worth $106,000. Capital Advisors Ltd. LLC purchased a new position in The Priceline Group during the second quarter worth $112,000. Webster Bank N. A. boosted its position in The Priceline Group by 24.0% in the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock worth $110,000 after buying an additional 12 shares during the last quarter. Finally, Assetmark Inc. boosted its position in The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock worth $112,000 after buying an additional 7 shares during the last quarter. 95.01% of the stock is owned by institutional investors.
The Priceline Group Company Profile
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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