Wells Fargo & Co Boosts Priceline Group (PCLN) Price Target to $1,850.00

Priceline Group (NASDAQ:PCLN) had its price objective raised by equities researchers at Wells Fargo & Co from $1,800.00 to $1,850.00 in a report issued on Tuesday, The Fly reports. The brokerage presently has a “market perform” rating on the business services provider’s stock. Wells Fargo & Co’s target price suggests a potential downside of 3.84% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Priceline Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Credit Suisse Group restated an “outperform” rating and issued a $2,000.00 target price (down previously from $2,070.00) on shares of Priceline Group in a report on Tuesday, November 7th. Citigroup restated a “buy” rating and issued a $2,050.00 target price on shares of Priceline Group in a report on Tuesday, November 7th. Oppenheimer restated a “buy” rating and issued a $1,950.00 target price (down previously from $2,100.00) on shares of Priceline Group in a report on Tuesday, November 7th. Finally, UBS Group restated a “neutral” rating on shares of Priceline Group in a report on Tuesday, November 7th. Eleven investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $2,022.47.

Priceline Group (NASDAQ:PCLN) traded down $5.31 during trading hours on Tuesday, hitting $1,923.92. 138,615 shares of the stock were exchanged, compared to its average volume of 435,509. Priceline Group has a 1 year low of $1,562.86 and a 1 year high of $2,067.99. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $95,124.01, a PE ratio of 26.84, a price-to-earnings-growth ratio of 1.45 and a beta of 1.39.

Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Monday, November 6th. The business services provider reported $35.22 EPS for the quarter, beating the Zacks’ consensus estimate of $34.31 by $0.91. Priceline Group had a net margin of 29.20% and a return on equity of 33.02%. The firm had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the prior year, the company posted $29.69 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. sell-side analysts forecast that Priceline Group will post 74.45 EPS for the current year.

In other Priceline Group news, Director Jan L. Docter sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the transaction, the director now directly owns 142 shares in the company, valued at $250,561.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gillian Tans sold 122 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $1,930.71, for a total transaction of $235,546.62. Following the completion of the transaction, the chief executive officer now owns 5,188 shares in the company, valued at $10,016,523.48. The disclosure for this sale can be found here. Insiders sold 1,567 shares of company stock worth $2,780,310 over the last quarter. Insiders own 0.24% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Horan Capital Advisors LLC. bought a new stake in shares of Priceline Group during the 3rd quarter valued at $103,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Priceline Group during the 2nd quarter valued at $133,000. Fieldpoint Private Securities LLC raised its position in shares of Priceline Group by 626.7% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 109 shares of the business services provider’s stock valued at $200,000 after purchasing an additional 94 shares during the period. Adviser Investments LLC bought a new stake in shares of Priceline Group during the 3rd quarter valued at $201,000. Finally, Brighton Jones LLC bought a new stake in shares of Priceline Group during the 3rd quarter valued at $207,000. Hedge funds and other institutional investors own 94.72% of the company’s stock.

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Priceline Group Company Profile

The Priceline Group Inc is a provider of travel and restaurant online 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.

The Fly

Analyst Recommendations for Priceline Group (NASDAQ:PCLN)