Priceline Group (NASDAQ:PCLN) Price Target Raised to $2,200.00

Priceline Group (NASDAQ:PCLN) had its target price boosted by research analysts at SunTrust Banks to $2,200.00 in a research note issued to investors on Friday, January 12th, The Fly reports. The brokerage currently has a “buy” rating on the business services provider’s stock. SunTrust Banks’ target price points to a potential upside of 18.34% from the company’s current price. SunTrust Banks also issued estimates for Priceline Group’s FY2022 earnings at $138.60 EPS.

Several other equities analysts have also weighed in on PCLN. Zacks Investment Research lowered shares of Priceline Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Bank of America reissued a “buy” rating and issued a $2,150.00 price target on shares of Priceline Group in a research report on Tuesday, September 26th. Guggenheim lowered shares of Priceline Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 7th. Citigroup reissued a “buy” rating and issued a $2,050.00 price target on shares of Priceline Group in a research report on Tuesday, November 7th. Finally, Morgan Stanley restated an “overweight” rating and issued a $2,100.00 price objective (up previously from $2,050.00) on shares of Priceline Group in a research note on Monday, October 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Priceline Group has an average rating of “Buy” and a consensus target price of $2,025.31.

Priceline Group (NASDAQ PCLN) traded down $44.59 during mid-day trading on Friday, hitting $1,859.10. 507,892 shares of the company traded hands, compared to its average volume of 401,693. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.52 and a current ratio of 2.52. The firm has a market capitalization of $89,070.00, a PE ratio of 26.05, a P/E/G ratio of 1.41 and a beta of 1.38. Priceline Group has a twelve month low of $1,571.32 and a twelve month high of $2,067.99.

Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Monday, November 6th. The business services provider reported $35.22 EPS for the quarter, topping the consensus estimate of $34.31 by $0.91. The business had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Priceline Group had a net margin of 29.20% and a return on equity of 33.02%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company posted $29.69 earnings per share. analysts predict that Priceline Group will post 74.41 EPS for the current fiscal year.

In related news, Director Jan L. Docter sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the completion of the transaction, the director now directly owns 142 shares in the company, valued at approximately $250,561.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gillian Tans sold 123 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $1,715.78, for a total value of $211,040.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,567 shares of company stock valued at $2,780,310. 0.24% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in PCLN. Harvest Fund Management Co. Ltd bought a new stake in shares of Priceline Group during the 2nd quarter worth approximately $101,000. Horan Capital Advisors LLC. bought a new stake in shares of Priceline Group during the 3rd quarter worth approximately $103,000. SeaCrest Wealth Management LLC bought a new stake in shares of Priceline Group during the 4th quarter worth approximately $123,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Priceline Group during the 2nd quarter worth approximately $133,000. Finally, TCI Wealth Advisors Inc. raised its stake in shares of Priceline Group by 8.7% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 75 shares of the business services provider’s stock worth $140,000 after purchasing an additional 6 shares in the last quarter. 94.72% of the stock is owned by hedge funds and other institutional investors.

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About Priceline Group

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.

The Fly

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