Notable Runner: What’s Next for Priceline Group Inc After Today’s Huge Increase?

Notable Runner: What's Next for Priceline Group Inc After Today's Huge Increase?

The stock of Priceline Group Inc (NASDAQ:PCLN) is a huge mover today! About 698,399 shares traded hands or 58.58% up from the average. Priceline Group Inc (NASDAQ:PCLN) has risen 11.35% since April 5, 2016 and is uptrending. It has outperformed by 9.40% the S&P500.
The move comes after 8 months positive chart setup for the $80.99 billion company. It was reported on Nov, 8 by Barchart.com. We have $2632.70 PT which if reached, will make NASDAQ:PCLN worth $54.26 billion more.

Analysts await Priceline Group Inc (NASDAQ:PCLN) to report earnings on November, 14. They expect $28.93 EPS, up 19.25% or $4.67 from last year’s $24.26 per share. PCLN’s profit will be $1.49 billion for 13.63 P/E if the $28.93 EPS becomes a reality. After $12.89 actual EPS reported by Priceline Group Inc for the previous quarter, Wall Street now forecasts 124.44% EPS growth.

Priceline Group Inc (NASDAQ:PCLN) Ratings Coverage

Out of 22 analysts covering Priceline.com (NASDAQ:PCLN), 18 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 82% are positive. Priceline.com has been the topic of 48 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was downgraded on Tuesday, January 5 by Raymond James. Wells Fargo initiated the stock with “Market Perform” rating in Monday, January 25 report. The rating was initiated by Moffett Nathanson with “Buy” on Tuesday, March 8. Susquehanna initiated it with “Positive” rating and $1700 target price in Thursday, October 20 report. As per Friday, September 4, the company rating was initiated by Redburn. The firm has “Hold” rating given on Thursday, August 6 by Deutsche Bank. The firm has “Buy” rating given on Friday, August 5 by Deutsche Bank. The stock of Priceline Group Inc (NASDAQ:PCLN) has “Buy” rating given on Friday, August 5 by Benchmark. The stock of Priceline Group Inc (NASDAQ:PCLN) earned “Hold” rating by Deutsche Bank on Thursday, November 5. The firm has “Outperform” rating by Oppenheimer given on Tuesday, November 10.

According to Zacks Investment Research, “Priceline.com Incorporated has pioneered a unique e-commerce pricing system known as a demand collection system that enables consumers to use the Internet to save money on a wide range of products and services while enabling sellers to generate incremental revenue. Using a simple and compelling consumer proposition – Name Your Own Price – priceline.com collects consumer demand, in the form of individual customer offers guaranteed by a credit card, for a particular product or service at a price set by the customer.”

Insitutional Activity: The institutional sentiment decreased to 0.92 in Q2 2016. Its down 0.09, from 1.01 in 2016Q1. The ratio fall, as 80 funds sold all Priceline Group Inc shares owned while 312 reduced positions. 71 funds bought stakes while 290 increased positions. They now own 45.60 million shares or 25.90% less from 61.54 million shares in 2016Q1.
Oak Ridge Invs Llc, a Illinois-based fund reported 11,225 shares. Utd Asset Strategies reported 4,129 shares or 1.93% of all its holdings. Mutual Of America Capital Mngmt Limited Liability owns 5,768 shares or 0.15% of their US portfolio. Denver Inv Advsrs Limited Liability holds 0.06% of its portfolio in Priceline Group Inc (NASDAQ:PCLN) for 1,145 shares. The Illinois-based Roberts Glore Co Il has invested 0.53% in Priceline Group Inc (NASDAQ:PCLN). Parsons Mgmt Ri last reported 0.16% of its portfolio in the stock. The Kansas-based First Commercial Bank Of Hutchinson has invested 0.53% in Priceline Group Inc (NASDAQ:PCLN). First Allied Advisory accumulated 0.05% or 821 shares. Hs Mngmt Prtnrs Ltd Limited Liability Company, a New York-based fund reported 97,896 shares. Winfield Assoc Inc accumulated 1.1% or 1,350 shares. Sumitomo Mitsui Asset Mngmt Co Ltd holds 26,926 shares or 1.02% of its portfolio. Mengis Management Inc owns 350 shares or 0.38% of their US portfolio. Sentinel Asset Mgmt has 14,400 shares for 0.42% of their US portfolio. Huntington Fincl Bank, a Ohio-based fund reported 343 shares. Meeder Asset last reported 0.17% of its portfolio in the stock.

Insider Transactions: Since May 10, 2016, the stock had 0 insider purchases, and 13 selling transactions for $26.22 million net activity. 131 shares were sold by Tans Gillian, worth $173,954 on Friday, July 15. $4.42M worth of Priceline Group Inc (NASDAQ:PCLN) was sold by BOYD JEFFERY H. $1.45M worth of Priceline Group Inc (NASDAQ:PCLN) was sold by Fogel Glenn D.

More recent Priceline Group Inc (NASDAQ:PCLN) news were published by: Wsj.com which released: “Priceline Group to Scale Back OpenTable Service” on November 07, 2016. Also Investorplace.com published the news titled: “3 Stocks to Watch on Tuesday: Hertz Global Holdings, Inc (HTZ), Priceline …” on November 08, 2016. Schaeffersresearch.com‘s news article titled: “Analyst Upgrades: Priceline Group Inc, JinkoSolar Holding Co., Ltd., and …” with publication date: November 08, 2016 was also an interesting one.

PCLN Company Profile

The Priceline Group Inc., incorporated on July 30, 1998, is a well-known provider of travel and restaurant reservation and related services. The Company, through its online travel companies (OTCs), connects clients wishing to make travel reservations with providers of travel services across the world. It offers clients 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 Company’s priceline.com brand also offers clients reservations for rental cars, airline tickets, vacation packages and cruises. The Firm offers rental car reservations across the world through rentalcars.com. The Firm provides restaurants with reservation management services and clients with the ability to make restaurant reservations at participating restaurants through OpenTable, Inc. (OpenTable), a well-known provider of online restaurant reservations.

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