Macquarie Increases Priceline Group Price Target to $1,595.00 (PCLN)
Investment analysts at Macquarie lifted their price objective on shares of Priceline Group (NASDAQ:PCLN) from $1,500.00 to $1,595.00 in a note issued to investors on Tuesday. The firm currently has an “outperform” rating on the stock. Macquarie’s price objective would suggest a potential upside of 21.82% from the company’s current price.
A number of other analysts have also recently weighed in on PCLN. Analysts at RBC Capital reiterated an “outperform” rating on shares of Priceline Group in a research note on Monday. Separately, analysts at Oppenheimer initiated coverage on shares of Priceline Group in a research note on Monday, June 30th. They set an “outperform” rating and a $1,450.00 price target on the stock. Finally, analysts at Buckingham Research initiated coverage on shares of Priceline Group in a research note on Friday, June 27th. They set a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Priceline Group presently has an average rating of “Buy” and an average price target of $1,429.71.
Priceline Group (NASDAQ:PCLN) traded down 1.14% during mid-day trading on Tuesday, hitting $1294.36. 794,639 shares of the company’s stock traded hands. Priceline Group has a 52 week low of $928.80 and a 52 week high of $1378.96. The stock has a 50-day moving average of $1240. and a 200-day moving average of $1228.. The company has a market cap of $67.866 billion and a P/E ratio of 34.94.
Priceline Group (NASDAQ:PCLN) last announced its earnings results on Monday, August 11th. The company reported $12.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $12.02 by $0.49. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the company posted $9.70 earnings per share. Priceline Group’s revenue was up 26.4% compared to the same quarter last year. On average, analysts predict that Priceline Group will post $52.37 earnings per share for the current fiscal year.
Priceline Group Inc, formerly 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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