priceline.com Rating Reiterated by Bank of America Corp. (PCLN)
priceline.com (NASDAQ:PCLN)‘s stock had its “buy” rating reiterated by stock analysts at Bank of America Corp. in a report issued on Tuesday, Analyst Ratings.Net reports. They currently have a $1,220.00 price target on the stock, up from their previous price target of $1,060.00. Bank of America Corp.’s price target suggests a potential upside of 13.96% from the stock’s previous close.
The analysts wrote, “Priceline reports on 11/7. We think the set-up for 3Q is positive given strong hotel additions on Booking.com, a 360bps easier y/y Int’l bookings growth comp, positive RevPAR commentary from hotel companies (Starwood, Hyatt, Accor, etc.), and positive read-across from Expedia 3Q results. We estimate rev./EPS of $2.23bn/$16.30 vs. the Street at $2.22bn/$16.24 driven by FX-neutral Int’l bookings est. of 37% y/y (guidance was 30-37%). Earnings beats have been smaller lately.”
A number of other firms have also recently commented on PCLN. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of priceline.com in a research note to investors on Tuesday. They now have a $1,150.00 price target on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of priceline.com in a research note to investors on Monday. Finally, analysts at Evercore Partners raised their price target on shares of priceline.com from $1,100.00 to $1,250.00 in a research note to investors on Wednesday, October 30th. They now have an “overweight” rating on the stock. Three research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. priceline.com has a consensus rating of “Buy” and a consensus target price of $1,078.35.
Shares of priceline.com (NASDAQ:PCLN) traded up 0.01% during mid-day trading on Tuesday, hitting $1070.73. 179,150 shares of the company’s stock traded hands. priceline.com has a 52-week low of $597.15 and a 52-week high of $1098.70. The stock has a 50-day moving average of $1032. and a 200-day moving average of $899.2. The company has a market cap of $55.143 billion and a P/E ratio of 35.20.
priceline.com (NASDAQ:PCLN) last released its earnings data on Thursday, August 8th. The company reported $9.70 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $7.85 earnings per share. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, analysts predict that priceline.com will post $40.11 earnings per share for the current fiscal year.
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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