Priceline Group Inc (PCLN) is Reiterated by RBC Capital Mkts to Outperform, Lowers Price Target to $ 1600

Priceline Group Inc (PCLN) was Reiterated by RBC Capital Mkts to “Outperform” while Lowering the Price Target of the company shares to $ 1600 from a previous price target of $1700 . RBC Capital Mkts advised their investors in a research report released on May 5, 2016.

Many Wall Street Analysts have commented on Priceline Group Inc. Shares were Reiterated by The Benchmark Company on May 5, 2016 to “Buy” and Lowered the Price Target to $ 1440 from a previous price target of $1525 .Priceline Group Inc was Upgraded by Guggenheim to ” Buy” on May 4, 2016. Priceline Group Inc was Initiated by Pacific Crest to “Sector Weight” on Mar 31, 2016.

On the company’s financial health, Priceline Group Inc reported $10.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.90 according to the earnings call on May 4, 2016. Analyst had a consensus of $9.64. The company had revenue of $2148.00 million for the quarter, compared to analysts expectations of $2122.97 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.12 EPS.

Priceline Group Inc closed down -101.6 points or -7.50% at $1253.04 with 28,84,766 shares getting traded on Wednesday. Post opening the session at $1258, the shares hit an intraday low of $1205.25 and an intraday high of $1266 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on May 4, 2016, Jeffery H Boyd (Interim CEO & President) sold 3,000 shares at $1,335.38 per share price. According to the SEC, on May 4, 2016, Gillian Tans (President & CEO, sold 161 shares at $1,349.00 per share price. On Mar 18, 2016, Daniel J Finnegan (Chief Financial Officer) sold 5,871 shares at $1,341.93 per share price, according to the Form-4 filing with the securities and exchange commission.

The Priceline Group Inc. is a provider of online travel and travel related reservation and search services. The Company through its online travel agent (OTA) services connects consumers wishing to make travel reservations with providers of travel services across the world. The Company’s brands include KAYAK and OpenTable. The Company offers consumers accommodation reservations including hotels bed and breakfasts hostels apartments vacation rentals and other properties through its and brands. Its brand also offers consumers reservations for rental cars airline tickets vacation packages and cruises. The Company offers rental car reservations through its Website The Company also provides an online price comparison service from various travel Websites through KAYAK. OpenTable provides its services to consumers and reservation management services to restaurants.

Priceline Group Inc

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