Today’s Stock On Watch: Time to Reconsider Priceline Group Inc After Touching All Time High?

Today's Stock On Watch: Time to Reconsider Priceline Group Inc After Touching All Time High?

The stock of Priceline Group Inc (NASDAQ:PCLN) reached all time high today, Nov, 8 and still has $2052.47 target or 31.00% above today’s $1566.77 share price. This indicates more upside for the $80.49B company. This technical setup was reported by Barchart.com. If the $2052.47 PT is reached, the company will be worth $24.95B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 486,097 shares traded hands or 10.37% 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.

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 13.54 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. Benchmark maintained it with “Buy” rating and $1800 target price in Tuesday, November 8 report. As per Friday, October 7, the company rating was maintained by RBC Capital Markets. The rating was downgraded by Deutsche Bank to “Hold” on Thursday, November 5. The rating was initiated by Susquehanna on Thursday, October 20 with “Positive”. RBC Capital Markets maintained the stock with “Buy” rating in Wednesday, August 5 report. The firm earned “Overweight” rating on Friday, August 5 by Piper Jaffray. Barclays Capital maintained Priceline Group Inc (NASDAQ:PCLN) rating on Tuesday, November 10. Barclays Capital has “Equal Weight” rating and $1300 price target. Redburn initiated the stock with “Buy” rating in Friday, September 4 report. The stock has “Buy” rating given by Benchmark on Friday, August 5. The company was maintained on Thursday, August 6 by Oppenheimer.

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.
Commercial Bank Of New York Mellon holds 0.19% or 502,996 shares in its portfolio. Federated Investors Pa last reported 2,654 shares in the company. Waterfront Cap Prns Limited Com holds 6,550 shares or 1.3% of its portfolio. Moreover, Affinity Wealth Mngmt has 0.41% invested in Priceline Group Inc (NASDAQ:PCLN) for 481 shares. The Minnesota-based Gradient Ltd Liability Co has invested 0% in Priceline Group Inc (NASDAQ:PCLN). Paloma Prtn last reported 2,858 shares in the company. Catalyst Cap Advisors Limited Liability Com owns 30 shares or 0.01% of their US portfolio. State Board Of Administration Of Florida Retirement Systems has 73,309 shares for 0.29% of their US portfolio. Guggenheim Capital Ltd Llc holds 44,148 shares or 0.17% of its portfolio. Andra Ap has 0.08% invested in the company for 2,500 shares. Professional Advisory Svcs last reported 12,838 shares in the company. Gabalex Cap Mgmt Llc holds 4.55% or 10,000 shares in its portfolio. The Connecticut-based Greenwich Wealth Management Limited Liability Corp has invested 0.56% in Priceline Group Inc (NASDAQ:PCLN). Polar Capital Llp holds 0.04% or 1,889 shares in its portfolio. Pitcairn last reported 0.26% of its portfolio in the stock.

Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 13 insider sales for $26.22 million net activity. $189,983 worth of Priceline Group Inc (NASDAQ:PCLN) was sold by Tans Gillian on Friday, October 14. 1,000 shares were sold by Fogel Glenn D, worth $1.50M. BOYD JEFFERY H also sold $4.06 million worth of Priceline Group Inc (NASDAQ:PCLN) shares.

More important 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 article titled: “Priceline Group Inc (PCLN) Stock: Q3 Earnings Glance”, Benzinga.com published: “The Priceline Group Inc. Opens High And Goes Higher After Q3 Beat” on November 08, 2016. More interesting news about Priceline Group Inc (NASDAQ:PCLN) was released by: Investorplace.com and their article: “3 Stocks to Watch on Tuesday: Hertz Global Holdings, Inc (HTZ), Priceline …” with publication date: November 08, 2016.

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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