Priceline Group Inc (PCLN) Given New $2,000.00 Price Target at Cowen and Company
Priceline Group Inc (NASDAQ:PCLN) had its price target boosted by investment analysts at Cowen and Company from $1,850.00 to $2,000.00 in a research report issued on Wednesday. The brokerage currently has an “outperform” rating on the business services provider’s stock. Cowen and Company’s price objective would suggest a potential upside of 13.58% from the company’s current price.
PCLN has been the topic of a number of other research reports. Needham & Company LLC started coverage on Priceline Group in a report on Wednesday, January 4th. They issued a “buy” rating and a $1,800.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $1,800.00 target price on shares of Priceline Group in a report on Wednesday, February 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Priceline Group in a report on Friday, December 23rd. Evercore ISI reissued a “buy” rating and issued a $1,850.00 target price on shares of Priceline Group in a report on Tuesday, February 14th. Finally, Miller Tabak started coverage on Priceline Group in a report on Wednesday, January 18th. They issued a “buy” rating and a $1,750.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $1,836.83.
Shares of Priceline Group (NASDAQ:PCLN) traded down 0.14% during trading on Wednesday, reaching $1760.80. The company’s stock had a trading volume of 346,400 shares. Priceline Group has a one year low of $1,148.06 and a one year high of $1,798.75. The stock’s 50 day moving average is $1,760.70 and its 200 day moving average is $1,587.70. The firm has a market cap of $86.58 billion, a P/E ratio of 41.28 and a beta of 1.62.
Priceline Group (NASDAQ:PCLN) last posted its earnings results on Monday, February 27th. The business services provider reported $14.21 earnings per share for the quarter, beating analysts’ consensus estimates of $13.09 by $1.12. Priceline Group had a return on equity of 34.70% and a net margin of 18.91%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the company earned $10.73 earnings per share. Priceline Group’s revenue was up 17.4% on a year-over-year basis. On average, equities analysts forecast that Priceline Group will post $74.41 EPS for the current fiscal year.
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In related news, CFO Daniel J. Finnegan sold 3,052 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $1,730.38, for a total transaction of $5,281,119.76. Following the completion of the transaction, the chief financial officer now directly owns 20,779 shares of the company’s stock, valued at $35,955,566.02. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gillian Tans sold 122 shares of the stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $1,743.00, for a total value of $212,646.00. Following the transaction, the chief executive officer now directly owns 6,289 shares of the company’s stock, valued at $10,961,727. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Dodge & Cox purchased a new position in shares of Priceline Group during the fourth quarter worth approximately $1,173,150,000. Norges Bank purchased a new position in shares of Priceline Group during the fourth quarter worth approximately $522,294,000. Capital World Investors raised its position in shares of Priceline Group by 27.7% in the third quarter. Capital World Investors now owns 1,578,582 shares of the business services provider’s stock worth $2,322,868,000 after buying an additional 342,746 shares during the last quarter. Soroban Capital Partners LP purchased a new position in shares of Priceline Group during the third quarter worth approximately $223,078,000. Finally, Jana Partners LLC purchased a new position in shares of Priceline Group during the third quarter worth approximately $155,108,000. 95.28% of the stock is owned by institutional investors.
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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