The stock of Priceline Group Inc (NASDAQ:PCLN) reached all time high today, Oct, 3 and still has $2384.91 target or 60.00% above today’s $1490.57 share price. This indicates more upside for the $73.41B company. This technical setup was reported by Barchart.com. If the $2384.91 PT is reached, the company will be worth $44.05B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 513,887 shares traded hands or 27.24% up from the average. 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 $1.42 billion for 12.88 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. Vetr downgraded Priceline Group Inc (NASDAQ:PCLN) on Tuesday, August 18 to “Buy” rating. The firm has “Overweight” rating given on Thursday, June 30 by Morgan Stanley. The firm has “Buy” rating by Piper Jaffray given on Tuesday, August 25. The rating was initiated by Wells Fargo with “Market Perform” on Monday, January 25. Barclays Capital upgraded the stock to “Overweight” rating in Wednesday, June 22 report. On Wednesday, September 2 the stock rating was upgraded by Vetr to “Strong-Buy”. As per Tuesday, November 10, the company rating was maintained by Oppenheimer. The company was initiated on Thursday, March 31 by Pacific Crest. As per Thursday, August 6, the company rating was maintained by Deutsche Bank. The rating was maintained by RBC Capital Markets on Wednesday, August 5 with “Buy”.
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 Q2 2016. 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.
Guardian L P has invested 0.11% of its portfolio in Priceline Group Inc (NASDAQ:PCLN). Creative Planning holds 5,142 shares or 0.05% of its portfolio. Tdam Usa holds 497 shares or 0.03% of its portfolio. The New York-based Gotham Asset Mgmt Ltd Liability Corp has invested 0.27% in Priceline Group Inc (NASDAQ:PCLN). Td Asset, a Ontario – Canada-based fund reported 89,862 shares. Wells Fargo Mn accumulated 0.1% or 216,018 shares. Envestnet Asset Management holds 0.12% of its portfolio in Priceline Group Inc (NASDAQ:PCLN) for 24,724 shares. Moreover, Waterfront Capital Partners has 1.3% invested in Priceline Group Inc (NASDAQ:PCLN) for 6,550 shares. Vigilant Capital Mgmt Ltd Limited Liability Company accumulated 0% or 17 shares. Moreover, Rhumbline Advisers has 0.27% invested in Priceline Group Inc (NASDAQ:PCLN) for 74,198 shares. Schroder Inv has 4,719 shares for 0.01% of their US portfolio. Shaker Ltd Oh holds 0.77% of its portfolio in Priceline Group Inc (NASDAQ:PCLN) for 680 shares. Dimensional Fund Advsrs L P holds 100,061 shares or 0.07% of its portfolio. Pdt Partners Limited Liability Corp last reported 4,339 shares in the company. Martingale Asset Limited Partnership has 0.07% invested in the company for 3,628 shares.
Insider Transactions: Since April 15, 2016, the stock had 0 insider buys, and 12 sales for $18.86 million net activity. 3,000 shares with value of $3.80 million were sold by BOYD JEFFERY H on Friday, July 1. 130 Priceline Group Inc (NASDAQ:PCLN) shares with value of $186,157 were sold by Tans Gillian. Fogel Glenn D sold 1,000 shares worth $1.43 million.
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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