Priceline Group Receives “Neutral” Rating from Zacks (PCLN)
Priceline Group (NASDAQ:PCLN)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Tuesday. They currently have a $1,375.00 price target on the stock. Zacks‘s target price points to a potential upside of 5.02% from the company’s current price.
Zacks’ analyst wrote, “Priceline.com is one of the leading online travel companies in the world. Priceline’s second quarter results exceeded the Zacks Consensus Estimates and forward guidance was above estimates. The secular growth trend in the online travel space, Priceline’s international growth opportunities, good execution, prudent marketing strategy and strong financial position are likely to drive upside to the shares. Of course, currency issues, macro headwinds, continued investments and occupancy tax-related litigation remain overhangs. We therefore reiterate our Neutral recommendation on Priceline shares.”
Shares of Priceline Group (NASDAQ:PCLN) traded down 0.66% during mid-day trading on Tuesday, hitting $1300.60. 498,492 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 $1238. and a 200-day moving average of $1227.. The company has a market cap of $68.193 billion and a price-to-earnings ratio of 34.94.
Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings data 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.
A number of other firms have also recently commented on PCLN. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Priceline Group in a research note on Tuesday. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Priceline Group in a research note on Tuesday. Finally, analysts at JMP Securities raised their price target on shares of Priceline Group from $1,425.00 to $1,450.00 in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,429.71.
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.
To view Zacks’ full report, visit Zacks’ official website.
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