Priceline Group Inc (NASDAQ:PCLN) had its price target lifted by Macquarie from $1,970.00 to $2,000.00 in a research note released on Wednesday, May 10th. Macquarie currently has an outperform rating on the business services provider’s stock.
A number of other equities analysts also recently weighed in on PCLN. Citigroup Inc assumed coverage on shares of Priceline Group in a research note on Tuesday, January 10th. They set a buy rating for the company. Vetr raised shares of Priceline Group from a sell rating to a hold rating and set a $1,759.00 target price for the company in a research note on Monday, April 3rd. Credit Suisse Group AG set a $1,935.00 target price on shares of Priceline Group and gave the stock a buy rating in a research note on Saturday, April 8th. Stifel Nicolaus reissued a buy rating and set a $2,100.00 target price (up previously from $1,900.00) on shares of Priceline Group in a research note on Tuesday, February 28th. Finally, Cantor Fitzgerald lifted their target price on shares of Priceline Group to $1,850.00 in a research note on Tuesday, February 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. Priceline Group currently has a consensus rating of Buy and an average target price of $1,928.36.
Shares of Priceline Group (PCLN) opened at 1895.96 on Wednesday. Priceline Group has a 1-year low of $1,148.06 and a 1-year high of $1,927.13. The company has a market capitalization of $93.17 billion, a price-to-earnings ratio of 42.80 and a beta of 1.62. The stock’s 50 day moving average price is $1,835.34 and its 200 day moving average price is $1,669.98.
Priceline Group (NASDAQ:PCLN) last announced its earnings results on Tuesday, May 9th. The business services provider reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.83 by $1.05. Priceline Group had a net margin of 18.91% and a return on equity of 34.70%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the firm earned $10.54 earnings per share. Priceline Group’s quarterly revenue was up 12.6% on a year-over-year basis. Analysts expect that Priceline Group will post $73.62 EPS for the current year.
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In other Priceline Group news, Director Jan L. Docter sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the completion of the transaction, the director now directly owns 346 shares in the company, valued at approximately $642,753.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gillian Tans sold 122 shares of the stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $1,743.00, for a total transaction of $212,646.00. Following the completion of the transaction, the chief executive officer now owns 6,289 shares of the company’s stock, valued at $10,961,727. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Hartford Financial Management Inc. acquired a new position in shares of Priceline Group during the first quarter valued at about $106,000. Webster Bank N. A. raised its position in shares of Priceline Group by 24.0% in the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock valued at $110,000 after buying an additional 12 shares during the last quarter. Assetmark Inc. raised its position in shares of Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after buying an additional 7 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of Priceline Group during the first quarter valued at about $123,000. Finally, Proficio Capital Partners LLC raised its position in shares of Priceline Group by 29.6% in the first quarter. Proficio Capital Partners LLC now owns 70 shares of the business services provider’s stock valued at $129,000 after buying an additional 16 shares during the last quarter. Institutional investors own 95.28% of the company’s stock.
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.
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