The stock of Priceline Group Inc (NASDAQ:PCLN) hit a new 52-week high and has $2010.54 target or 35.00% above today’s $1489.29 share price. The 9 months bullish chart indicates low risk for the $73.54B company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $2010.54 price target is reached, the company will be worth $25.74 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 386,746 shares traded hands. Priceline Group Inc (NASDAQ:PCLN) has risen 16.30% since February 29, 2016 and is uptrending. It has outperformed by 4.09% the S&P500.
Analysts await Priceline Group Inc (NASDAQ:PCLN) to report earnings on November, 14. They expect $28.93 earnings per share, up 19.25% or $4.67 from last year’s $24.26 per share. PCLN’s profit will be $1.43B for 12.87 P/E if the $28.93 EPS becomes a reality. After $12.89 actual earnings per share reported by Priceline Group Inc for the previous quarter, Wall Street now forecasts 124.44% EPS growth.
Priceline Group Inc (NASDAQ:PCLN) Ratings Coverage
Out of 20 analysts covering Priceline.com (NASDAQ:PCLN), 16 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 80% are positive. Priceline.com has been the topic of 45 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Priceline Group Inc (NASDAQ:PCLN) earned “Equal Weight” rating by Barclays Capital on Tuesday, November 10. The rating was maintained by Piper Jaffray with “Buy” on Tuesday, August 25. The stock has “Buy” rating given by RBC Capital Markets on Wednesday, August 5. The rating was upgraded by Vetr to “Strong-Buy” on Wednesday, September 2. The stock of Priceline Group Inc (NASDAQ:PCLN) earned “Buy” rating by Benchmark on Friday, August 7. Vetr downgraded it to “Buy” rating and $1351.59 target price in Tuesday, August 18 report. The stock has “Outperform” rating given by Oppenheimer on Thursday, August 6. The firm has “Hold” rating by Deutsche Bank given on Thursday, November 5. The firm has “Hold” rating by Deutsche Bank given on Friday, July 31. The stock of Priceline Group Inc (NASDAQ:PCLN) earned “Buy” rating by Deutsche Bank on Friday, August 5.
According to Zacks Investment Research, “Priceline.com Incorporated has pioneered a unique e-commerce pricing system known as a demand collection system that enables consumers to use the Internet to save money on a wide range of products and services while enabling sellers to generate incremental revenue. Using a simple and compelling consumer proposition – Name Your Own Price – priceline.com collects consumer demand, in the form of individual customer offers guaranteed by a credit card, for a particular product or service at a price set by the customer.”
Insitutional Activity: The institutional sentiment decreased to 0.92 in 2016 Q2. Its down 0.09, from 1.01 in 2016Q1. The ratio fall, as 80 funds sold all Priceline Group Inc shares owned while 312 reduced positions. 71 funds bought stakes while 290 increased positions. They now own 45.60 million shares or 25.90% less from 61.54 million shares in 2016Q1.
Palisade Cap Llc Nj has invested 0.02% of its portfolio in Priceline Group Inc (NASDAQ:PCLN). Capstone Asset Management, a Texas-based fund reported 4,537 shares. Bluecrest Cap Mngmt last reported 0.02% of its portfolio in the stock. The Alabama-based Zweig has invested 2.45% in Priceline Group Inc (NASDAQ:PCLN). Northern Mgmt Limited Com reported 1,840 shares or 1.03% of all its holdings. Melvin Capital Management Limited Partnership has invested 4.61% of its portfolio in Priceline Group Inc (NASDAQ:PCLN). Davis Selected Advisers holds 0.9% of its portfolio in Priceline Group Inc (NASDAQ:PCLN) for 163,088 shares. Insight Cap Research Mgmt reported 1,924 shares or 0.84% of all its holdings. New Mexico Educational Retirement Board has invested 0.32% of its portfolio in Priceline Group Inc (NASDAQ:PCLN). Dekabank Deutsche Girozentrale accumulated 0.27% or 19,370 shares. Guggenheim Cap Ltd Liability has 44,148 shares for 0.17% of their US portfolio. Baskin Services has invested 2.16% of its portfolio in Priceline Group Inc (NASDAQ:PCLN). Moreover, Girard Ltd has 0.28% invested in Priceline Group Inc (NASDAQ:PCLN) for 600 shares. The Massachusetts-based Adage Cap Prns Gp Limited Liability has invested 0.25% in Priceline Group Inc (NASDAQ:PCLN). Oppenheimer And has 307 shares for 0.01% of their US portfolio.
Insider Transactions: Since April 15, 2016, the stock had 0 buys, and 12 selling transactions for $18.86 million net activity. On Wednesday, September 7 the insider Fogel Glenn D sold $1.43 million. 3,000 shares were sold by BOYD JEFFERY H, worth $4.06M. On Friday, April 15 Tans Gillian sold $174,711 worth of the stock or 131 shares.
More recent Priceline Group Inc (NASDAQ:PCLN) news were published by: Investorplace.com which released: “Priceline Group Inc Is Going to Break $1500! (PCLN)” on September 29, 2016. Also Profitconfidential.com published the news titled: “Priceline Group Inc.: PCLN Stock Chart is Suggesting a Breakout Imminent” on September 07, 2016. Investorplace.com‘s news article titled: “Priceline Group Inc Ends Name-Your-Own-Airfare Option” with publication date: September 08, 2016 was also an interesting one.
PCLN Company Profile
The Priceline Group Inc., incorporated on July 30, 1998, is a well-known provider of travel and restaurant reservation and related services. The Company, through its online travel companies (OTCs), connects clients wishing to make travel reservations with providers of travel services across the world. It offers clients 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. The Company’s priceline.com brand also offers clients reservations for rental cars, airline tickets, vacation packages and cruises. The Firm offers rental car reservations across the world through rentalcars.com. The Firm provides restaurants with reservation management services and clients with the ability to make restaurant reservations at participating restaurants through OpenTable, Inc. (OpenTable), a well-known provider of online restaurant reservations.
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