Today’s Price Action: Priceline Group Inc’s Big Gap Up Today Points to Less Stock Risks

Today's Price Action: Priceline Group Inc's Big Gap Up Today Points to Less Stock Risks

The stock of Priceline Group Inc (NASDAQ:PCLN) gapped up by $54.8 today and has $2006.84 target or 27.00% above today’s $1580.19 share price. The 7 months technical chart setup indicates low risk for the $81.07B company. The gap was reported on Nov, 8 by Barchart.com. If the $2006.84 price target is reached, the company will be worth $21.89 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 1.56M shares traded hands or 254.22% up from the average. Priceline Group Inc (NASDAQ:PCLN) has risen 14.49% since April 6, 2016 and is uptrending. It has outperformed by 12.53% 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 $1.48B for 13.66 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. As per Thursday, October 20, the company rating was initiated by Susquehanna. The rating was downgraded by Raymond James on Tuesday, January 5 to “Outperform”. The stock of Priceline Group Inc (NASDAQ:PCLN) earned “Buy” rating by Piper Jaffray on Tuesday, August 25. As per Thursday, June 30, the company rating was upgraded by Morgan Stanley. The stock has “Hold” rating given by Deutsche Bank on Thursday, August 6. Benchmark maintained it with “Buy” rating and $1800 target price in Tuesday, November 8 report. The stock has “Buy” rating given by Redburn on Friday, September 4. Barclays Capital upgraded Priceline Group Inc (NASDAQ:PCLN) rating on Wednesday, June 22. Barclays Capital has “Overweight” rating and $1500 price target. The stock has “Buy” rating given by Moffett Nathanson on Tuesday, March 8. Deutsche Bank downgraded Priceline Group Inc (NASDAQ:PCLN) on Thursday, November 5 to “Hold” rating.

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 2016 Q2. Its down 0.09, from 1.01 in 2016Q1. The ratio turned 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.
Shell Asset Mgmt Company holds 0.15% or 5,008 shares in its portfolio. Raymond James Trust Na reported 842 shares or 0.09% of all its holdings. Zweig holds 2.45% or 19,190 shares in its portfolio. Td Asset Mgmt reported 89,862 shares or 0.2% of all its holdings. Winslow Evans Crocker Inc accumulated 0% or 14 shares. Mizuho Secs Usa owns 650 shares or 0.13% of their US portfolio. Blackrock accumulated 0.22% or 116,283 shares. Professional Advisory Ser holds 3.67% or 12,838 shares in its portfolio. Deutsche Bank Ag has 254,655 shares for 0.22% of their US portfolio. Cubist Systematic Strategies Lc last reported 0.27% of its portfolio in the stock. The United Kingdom-based Origin Asset Mgmt Ltd Liability Partnership has invested 1.33% in Priceline Group Inc (NASDAQ:PCLN). Wasatch Advsrs Inc has 1,623 shares for 0.03% of their US portfolio. Pension Ser accumulated 29,758 shares or 0.33% of the stock. Twin Tree Mngmt L P has 4,240 shares for 0.08% of their US portfolio. Advantus Capital Mngmt owns 4,927 shares or 0.17% of their US portfolio.

Insider Transactions: Since May 10, 2016, the stock had 0 insider purchases, and 13 sales for $26.22 million net activity. The insider Tans Gillian sold $184,448. BOYD JEFFERY H sold $3.80M worth of stock or 3,000 shares. Fogel Glenn D also sold $1.45M worth of Priceline Group Inc (NASDAQ:PCLN) shares.

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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