priceline.com Coverage Initiated at Credit Suisse (PCLN)
Research analysts at Credit Suisse initiated coverage on shares of priceline.com (NASDAQ:PCLN) in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $1,087.09 price target on the stock.
The analysts wrote, “PCLN remains an open-ended growth story, and we expect share gain momentum to continue as: (1) scale, coupled with the fragmented EU hotel landscape, provides a structural moat around the core Booking franchise; and (2) PCLN successfully exports its playbook globally. We detail new deep-dive work on PCLN’s opportunities within the China outbound tourism and US markets that gives us greater confidence in our long-term forecasts.”
priceline.com (NASDAQ:PCLN) traded down 1.37% during mid-day trading on Tuesday, hitting $1072.1899. The stock had a trading volume of 617,781 shares. priceline.com has a 1-year low of $553.97 and a 1-year high of $1089.75. The stock has a 50-day moving average of $1004. and a 200-day moving average of $873.7. The company has a market cap of $55.218 billion and a price-to-earnings ratio of 35.75.
priceline.com (NASDAQ:PCLN) last announced its earnings results on Thursday, August 8th. The company reported $9.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $9.37 by $0.33. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company posted $7.85 earnings per share. The company’s quarterly revenue was up 26.7% on a year-over-year basis.
PCLN has been the subject of a number of other recent research reports. Analysts at Susquehanna raised their price target on shares of priceline.com from $1,135.00 to $1,200.00 in a research note to investors on Monday. They now have a “positive” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of priceline.com in a research note to investors on Friday. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of priceline.com in a research note to investors on Monday, October 14th. Three research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $1,059.83.
Priceline Com Incorporated, is an online travel company that offers its customers hotel room reservations at over 295,000 hotels worldwide through the Booking.
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