Analysts Set The Priceline Group Inc. (NASDAQ:PCLN) PT at $1,519.39
Shares of The Priceline Group Inc. (NASDAQ:PCLN) have been assigned an average recommendation of “Buy” from the twenty-eight research firms that are currently covering the firm. Six equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $1,535.17.
Several equities analysts have recently issued reports on PCLN shares. Cantor Fitzgerald restated a “buy” rating and set a $1,510.00 target price (down from $1,525.00) on shares of The Priceline Group in a research report on Tuesday, July 5th. Tigress Financial reiterated a “buy” rating on shares of The Priceline Group in a research report on Thursday, June 30th. Piper Jaffray Cos. reiterated a “buy” rating and issued a $1,500.00 price objective on shares of The Priceline Group in a research report on Tuesday, June 21st. Vetr lowered The Priceline Group from a “strong-buy” rating to a “buy” rating and set a $1,362.34 price objective for the company. in a research report on Wednesday, June 29th. Finally, Jefferies Group reiterated a “buy” rating and issued a $1,660.00 price objective on shares of The Priceline Group in a research report on Monday, June 27th.
In related news, CEO Jeffery H. Boyd sold 3,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $1,353.90, for a total value of $4,061,700.00. Following the sale, the chief executive officer now owns 94,488 shares in the company, valued at approximately $127,927,303.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Glenn D. Fogel sold 1,000 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $1,434.75, for a total value of $1,434,750.00. Following the completion of the sale, the insider now owns 25,131 shares in the company, valued at approximately $36,056,702.25. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in The Priceline Group by 1.7% in the second quarter. Vanguard Group Inc. now owns 2,994,181 shares of the company’s stock worth $3,737,965,000 after buying an additional 51,477 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in The Priceline Group by 2.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,298,207 shares of the company’s stock worth $1,673,337,000 after buying an additional 26,300 shares during the period. Capital World Investors boosted its stake in The Priceline Group by 38.0% in the second quarter. Capital World Investors now owns 1,235,836 shares of the company’s stock worth $1,542,830,000 after buying an additional 340,386 shares during the period. Lone Pine Capital LLC boosted its stake in The Priceline Group by 41.6% in the second quarter. Lone Pine Capital LLC now owns 1,120,758 shares of the company’s stock worth $1,399,165,000 after buying an additional 329,121 shares during the period. Finally, Jennison Associates LLC boosted its stake in The Priceline Group by 21.2% in the second quarter. Jennison Associates LLC now owns 858,165 shares of the company’s stock worth $1,071,342,000 after buying an additional 150,154 shares during the period. Institutional investors and hedge funds own 93.99% of the company’s stock.
The Priceline Group (NASDAQ:PCLN) opened at 1479.82 on Wednesday. The firm has a market cap of $73.14 billion, a P/E ratio of 28.15 and a beta of 1.62. The Priceline Group has a one year low of $954.02 and a one year high of $1,501.79. The firm’s 50-day moving average price is $1,445.54 and its 200 day moving average price is $1,348.86.
The Priceline Group (NASDAQ:PCLN) last posted its earnings results on Thursday, August 4th. The company reported $13.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $12.69 by $1.24. The company earned $2.55 billion during the quarter, compared to analyst estimates of $2.58 billion. The Priceline Group had a return on equity of 32.93% and a net margin of 27.08%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $12.45 EPS. On average, equities research analysts forecast that The Priceline Group will post $68.57 EPS for the current year.
About The Priceline Group
The Priceline Group Inc is a provider of travel and restaurant 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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