The Priceline Group Inc. (NASDAQ:PCLN) Given a $2,150.00 Price Target by Credit Suisse Group Analysts
The Priceline Group Inc. (NASDAQ:PCLN) has been assigned a $2,150.00 price objective by investment analysts at Credit Suisse Group in a research report issued on Tuesday, August 1st. The firm presently has a “buy” rating on the business services provider’s stock. Credit Suisse Group’s price target would indicate a potential upside of 15.95% from the stock’s current price.
PCLN has been the topic of a number of other reports. Needham & Company LLC reiterated a “buy” rating on shares of The Priceline Group in a report on Wednesday, June 21st. MKM Partners reiterated a “buy” rating and issued a $2,050.00 price objective (up from $2,030.00) on shares of The Priceline Group in a report on Wednesday, May 17th. Deutsche Bank AG upped their price objective on The Priceline Group from $1,725.00 to $2,000.00 and gave the company a “hold” rating in a report on Monday, May 8th. UBS AG reiterated a “buy” rating and issued a $2,100.00 price objective (up from $1,870.00) on shares of The Priceline Group in a report on Thursday, May 11th. Finally, Macquarie set a $1,970.00 price objective on The Priceline Group and gave the company a “buy” rating in a report on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The Priceline Group has a consensus rating of “Buy” and a consensus price target of $1,909.30.
Shares of The Priceline Group (NASDAQ PCLN) traded up 0.25% during trading on Tuesday, reaching $1854.17. The company had a trading volume of 620,703 shares. The company has a market capitalization of $90.96 billion, a PE ratio of 39.38 and a beta of 1.42. The stock’s 50-day moving average price is $1,950.91 and its 200-day moving average price is $1,809.82. The Priceline Group has a 52 week low of $1,392.44 and a 52 week high of $2,067.99. The Priceline Group also was the target of unusually large options trading on Wednesday. Stock investors acquired 17,507 call options on the stock. This represents an increase of 255% compared to the typical daily volume of 4,928 call options.
The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating analysts’ consensus estimates of $14.25 by $0.89. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the prior year, the firm posted $13.93 earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. On average, equities analysts expect that The Priceline Group will post $74.80 EPS for the current fiscal year.
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In other The Priceline Group news, Director Jan L. Docter sold 1,500 shares of the company’s stock in a transaction on 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 owns 346 shares in the company, valued at $642,753.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gillian Tans sold 122 shares of the company’s stock in a transaction on 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 owns 6,044 shares of the company’s stock, valued at approximately $10,963,816. The disclosure for this sale can be found here. Insiders sold 1,744 shares of company stock valued at $3,245,648 in the last 90 days. 0.42% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of The Priceline Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 3,284,464 shares of the business services provider’s stock valued at $6,143,655,000 after buying an additional 79,784 shares during the period. FMR LLC increased its stake in shares of The Priceline Group by 3.8% in the first quarter. FMR LLC now owns 1,840,149 shares of the business services provider’s stock valued at $3,275,411,000 after buying an additional 67,569 shares during the period. Harbour Capital Advisors LLC increased its stake in shares of The Priceline Group by 210,283.2% in the second quarter. Harbour Capital Advisors LLC now owns 978,282 shares of the business services provider’s stock valued at $523,000 after buying an additional 977,817 shares during the period. Jennison Associates LLC increased its stake in shares of The Priceline Group by 6.4% in the second quarter. Jennison Associates LLC now owns 862,773 shares of the business services provider’s stock valued at $1,613,834,000 after buying an additional 52,133 shares during the period. Finally, Edgewood Management LLC increased its stake in shares of The Priceline Group by 3.4% in the first quarter. Edgewood Management LLC now owns 568,388 shares of the business services provider’s stock valued at $1,011,714,000 after buying an additional 18,746 shares during the period. Institutional investors own 95.01% of the company’s stock.
About The Priceline Group
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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