The Priceline Group Inc. (NASDAQ:PCLN)‘s stock had its “buy” rating reissued by equities researchers at Ascendiant Capital Markets in a research note issued on Tuesday. They currently have a $1,700.00 price objective on the stock, up from their previous price objective of $1,600.00. Ascendiant Capital Markets’ price objective would suggest a potential upside of 8.26% from the company’s current price.

Several other research analysts have also weighed in on the company. Susquehanna reaffirmed a “buy” rating and issued a $1,700.00 target price on shares of The Priceline Group in a research report on Tuesday. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $1,625.00 target price on shares of The Priceline Group in a research report on Tuesday. Pacific Crest reiterated a “hold” rating on shares of The Priceline Group in a report on Tuesday. Morgan Stanley reiterated a “buy” rating and issued a $1,600.00 price target on shares of The Priceline Group in a report on Tuesday. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $1,580.00 price target on shares of The Priceline Group in a report on Tuesday. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The Priceline Group has a consensus rating of “Buy” and a consensus target price of $1,605.49.

Analyst Recommendations for The Priceline Group (NASDAQ:PCLN)

Shares of The Priceline Group (NASDAQ:PCLN) opened at 1570.26 on Tuesday. The Priceline Group has a one year low of $954.02 and a one year high of $1,589.21. The stock has a market capitalization of $77.61 billion, a P/E ratio of 29.87 and a beta of 1.69. The firm’s 50-day moving average price is $1,470.49 and its 200-day moving average price is $1,375.24.

The Priceline Group (NASDAQ:PCLN) last issued its earnings results on Monday, November 7th. The company reported $31.18 earnings per share for the quarter, topping the consensus estimate of $29.88 by $1.30. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.61 billion. The Priceline Group had a return on equity of 35.43% and a net margin of 18.91%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the company posted $25.35 EPS. Equities research analysts anticipate that The Priceline Group will post $68.12 EPS for the current fiscal year.

In related news, insider Glenn D. Fogel sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $1,434.75, for a total transaction of $1,434,750.00. Following the transaction, the insider now owns 25,131 shares in the company, valued at $36,056,702.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffery H. Boyd sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $1,472.08, for a total transaction of $4,416,240.00. Following the transaction, the chief executive officer now owns 85,537 shares in the company, valued at approximately $125,917,306.96. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PCLN. AMP Capital Investors Ltd raised its position in The Priceline Group by 5.1% in the first quarter. AMP Capital Investors Ltd now owns 24,472 shares of the company’s stock worth $32,231,000 after buying an additional 1,191 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in The Priceline Group by 74.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 74,100 shares of the company’s stock valued at $95,512,000 after buying an additional 31,600 shares during the period. Bayesian Capital Management LP acquired a new position in The Priceline Group during the first quarter valued at about $459,000. Legal & General Group Plc raised its position in The Priceline Group by 1.2% in the first quarter. Legal & General Group Plc now owns 204,290 shares of the company’s stock valued at $263,327,000 after buying an additional 2,414 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in The Priceline Group by 19.7% in the first quarter. Envestnet Asset Management Inc. now owns 25,164 shares of the company’s stock valued at $32,435,000 after buying an additional 4,141 shares during the period. Institutional investors and hedge funds own 94.10% of the company’s stock.

The Priceline Group Company Profile

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.

5 Day Chart for NASDAQ:PCLN

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