Priceline Group (PCLN) Price Target Raised to $2,200.00 at SunTrust Banks

Priceline Group (NASDAQ:PCLN) had its price target lifted by SunTrust Banks to $2,200.00 in a research note issued to investors on Friday. They currently have a buy rating on the business services provider’s stock. SunTrust Banks also issued estimates for Priceline Group’s FY2022 earnings at $138.60 EPS.

A number of other equities research analysts have also recently issued reports on PCLN. Bank of America reissued a buy rating and issued a $2,150.00 target price on shares of Priceline Group in a research report on Tuesday, September 26th. Morgan Stanley reissued an overweight rating and issued a $2,100.00 target price (up previously from $2,050.00) on shares of Priceline Group in a research report on Monday, October 2nd. Barclays reaffirmed a buy rating and issued a $2,150.00 price target on shares of Priceline Group in a research note on Wednesday, October 11th. Deutsche Bank reaffirmed a hold rating and issued a $2,050.00 price target on shares of Priceline Group in a research note on Tuesday, October 24th. Finally, Piper Jaffray Companies reaffirmed an overweight rating and issued a $2,000.00 price target on shares of Priceline Group in a research note on Tuesday, November 7th. Eleven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $2,010.80.

Shares of Priceline Group (PCLN) traded up $26.30 during trading on Friday, hitting $1,919.40. The stock has a market capitalization of $94,160.00, a price-to-earnings ratio of 26.89, a P/E/G ratio of 1.43 and a beta of 1.39. Priceline Group has a 1 year low of $1,528.01 and a 1 year high of $2,067.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.52 and a quick ratio of 2.52.

Priceline Group (NASDAQ:PCLN) last announced its earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $34.31 by $0.91. The company 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%. Priceline Group’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $29.69 earnings per share. equities analysts forecast that Priceline Group will post 74.41 earnings per share for the current year.

In other Priceline Group news, Director Jan L. Docter sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $1,764.52, for a total transaction of $2,117,424.00. Following the completion of the transaction, the director now owns 142 shares of the company’s stock, valued at $250,561.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gillian Tans sold 123 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was 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. In the last three months, insiders have sold 1,445 shares of company stock valued at $2,544,764. Insiders own 0.24% of the company’s stock.

Several large investors have recently added to or reduced their stakes in PCLN. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Priceline Group by 23.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 678 shares of the business services provider’s stock worth $1,268,000 after purchasing an additional 130 shares during the last quarter. Martingale Asset Management L P grew its holdings in shares of Priceline Group by 8.2% during the second quarter. Martingale Asset Management L P now owns 1,838 shares of the business services provider’s stock worth $3,439,000 after purchasing an additional 140 shares during the last quarter. Weatherstone Capital Management grew its holdings in shares of Priceline Group by 12.0% during the second quarter. Weatherstone Capital Management now owns 196 shares of the business services provider’s stock worth $367,000 after purchasing an additional 21 shares during the last quarter. Dai Ichi Life Insurance Company Ltd grew its holdings in shares of Priceline Group by 70.0% during the second quarter. Dai Ichi Life Insurance Company Ltd now owns 6,880 shares of the business services provider’s stock worth $12,869,000 after purchasing an additional 2,833 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Priceline Group by 2.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,354 shares of the business services provider’s stock worth $10,015,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

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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.

Analyst Recommendations for Priceline Group (NASDAQ:PCLN)

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