Price Don’t Lie: What Next for Priceline Group Inc Stock After Touching 52-Week High?

Price Don't Lie: What Next for Priceline Group Inc Stock After Touching 52 Week High?

The stock of Priceline Group Inc (NASDAQ:PCLN) hit a new 52-week high and has $1994.99 target or 27.00% above today’s $1570.86 share price. The 5 months bullish chart indicates low risk for the $80.70B company. The 1-year high was reported on Nov, 8 by Barchart.com. If the $1994.99 price target is reached, the company will be worth $21.79 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 332,046 shares traded hands. 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.

Analysts await Priceline Group Inc (NASDAQ:PCLN) to report earnings on November, 14. They expect $28.93 earnings per share, up 19.25% or $4.67 from last year’s $24.26 per share. PCLN’s profit will be $1.49B for 13.57 P/E if the $28.93 EPS becomes a reality. After $12.89 actual earnings per share 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. Moffett Nathanson initiated Priceline Group Inc (NASDAQ:PCLN) rating on Tuesday, March 8. Moffett Nathanson has “Buy” rating and $1.475K price target. The rating was initiated by Pacific Crest on Thursday, March 31 with “Sector Weight”. Vetr downgraded it to “Buy” rating and $1351.59 target price in Tuesday, August 18 report. Wells Fargo initiated the shares of PCLN in a report on Monday, January 25 with “Market Perform” rating. The rating was maintained by Piper Jaffray with “Buy” on Tuesday, August 25. RBC Capital Markets maintained the shares of PCLN in a report on Wednesday, August 5 with “Buy” rating. On Wednesday, September 2 the stock rating was upgraded by Vetr to “Strong-Buy”. On Wednesday, May 4 the stock rating was downgraded by Guggenheim to “Neutral”. The firm has “Outperform” rating given on Tuesday, January 5 by Raymond James. The firm has “Overweight” rating given on Thursday, June 30 by Morgan Stanley.

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 is negative, 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.
Strategic Serv last reported 2,450 shares in the company. Intrust Fincl Bank Na, a Kansas-based fund reported 502 shares. Signaturefd Ltd Liability Company holds 0.01% of its portfolio in Priceline Group Inc (NASDAQ:PCLN) for 57 shares. Texas Permanent School Fund last reported 0.27% of its portfolio in the stock. Atlanta Capital Group Incorporated accumulated 0.28% or 1,022 shares. Edgewood Limited Com accumulated 529,128 shares or 4.84% of the stock. Riverpark Capital Management Ltd Llc holds 6,025 shares or 3.65% of its portfolio. Factory Mutual Insur Company accumulated 0.28% or 17,200 shares. Wexford Cap L P has 1.04% invested in the company for 4,799 shares. Rafferty Asset Management Limited Com accumulated 0.08% or 903 shares. Lmr Limited Liability Partnership accumulated 300 shares or 0.06% of the stock. First Financial Bank Of Omaha has 0.97% invested in the company for 10,495 shares. Bessemer Gru reported 86,997 shares or 0.6% of all its holdings. Aberdeen Asset Public Ltd Com Uk owns 26,988 shares or 0.12% of their US portfolio. Palisade Capital Management Lc Nj has invested 0.02% of its portfolio in Priceline Group Inc (NASDAQ:PCLN).

Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 13 sales for $26.22 million net activity. Fogel Glenn D also sold $1.45 million worth of Priceline Group Inc (NASDAQ:PCLN) shares. Tans Gillian sold 130 shares worth $186,157. $4.24M worth of Priceline Group Inc (NASDAQ:PCLN) shares were sold by BOYD JEFFERY H.

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: “Priceline Group Inc (PCLN) Stock: Q3 Earnings Glance” on November 07, 2016. Investorplace.com‘s news article titled: “3 Stocks to Watch on Tuesday: Hertz Global Holdings, Inc (HTZ), Priceline …” 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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