Thu, Aug. 18, 7:13 AM
- Alongside his downgrade of Twitter, analyst Ken Sena boosts Priceline (NASDAQ:PCLN) to Buy from Hold.
- Through Booking.com, Priceline offers scale advantage, characterized by its leading global position in travel and deep penetration of independents and the European OTA market, execution track record, and value.
- At 17x 2017 adjusted EPS, Priceline trades inline to below travel peers despite greater scale and faster growth.
- He boosts the price target to $1,650 from $1,350. Shares are up 0.6% to $1,435.35 premarket.
Fri, Aug. 5, 9:12 AM
Thu, Aug. 4, 4:51 PM
Thu, Aug. 4, 4:29 PM
- Priceline (NASDAQ:PCLN) reports profit jumped 16% in Q2 to $2.4B. The international business accounted for $2.1B of the gain. The company ended the period with a gross profit rate of 20.8% vs. 18.9% a year ago.
- Total gross bookings were up 19.4% to $17.862B (+21% ex-F/X). Hotel room units sold showed the biggest increase in the quarter with a 24% Y/Y increase.
- Priceline says it will target total gross travel bookings growth of 14% to 19% in Q3. Room bookings growth of 14% to 19% is anticipated. Revenue is seen growing 12% to 17%. The company expects Q3 EPS of $28.30 to $29.80.
- Priceline earnings release (.pdf)
- PCLN +4.27% AH to $1418.00.
Wed, Aug. 3, 5:35 PM
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Wed, Aug. 3, 1:13 PM
- Cruise line stocks are recovering from a harsh sell-off following Royal Caribbean's (RCL +1.9%) earnings report. Norwegian Cruise Line Holdings NCLH and Carnival CCL saw some panicking trading yesterday, according to some analysts.
- United Continental (UAL +1.6%) and Delta Air Lines (DAL +1%) are also higher on the day. Sector watchers note that the impact of Zika on the carriers may have been overstated.
- Priceline Group (PCLN +1.7%) and Travelzoo (TZOO +1.9%) are ahead of broad market indexes.
- Hotel stocks Hyatt Hotels (H +2.6%), Marriott International (MAR +1.1%), and Hilton Worldwide Holdings (HLT +1%) are in positive territory in the lodging sector.
Fri, Jul. 15, 2:27 AM
- Eight months after a murderous rampage in Paris, a deadly attack in the French coastal city of Nice has killed at least 84 people and wounded scores.
- The "terrorist" gunman, described as a French national of Tunisian descent, drove a heavy truck at high speed into a crowd that had been watching Bastille Day fireworks along the Riviera.
- Equities are trading lower, weighed down by travel and tourism stocks, in yet another terror driven selloff.
- CAC 40 -0.6% to 4,358.
- Related tickers: EXPE -2.4%, PCLN -1%, TRIP -1%, NCLH -3%, RCL -2.5%, CCL -0.2%, AAL -1.4%, UAL -1.2%, DAL -1.5%.
Thu, Jul. 14, 8:08 AM| Thu, Jul. 14, 8:08 AM | 1 Comment
Thu, Jun. 30, 8:57 AM
- Morgan Stanley upgraded the travel website operator's stock to overweight from equal-weight, noting increasing profitability and the opportunity to make inroads in the alternative accommodations market.
- "The two leading OTAs show the first signs of acting as rational players in a global duopoly," analyst Brian Nowak wrote in a research note. "We see this more rational ad environment enabling this to continue, and we lower forward ad spending, now expecting PCLN's adj. EBITDA margins to rise in '16 for the first time in five years."
- PCLN +2.1% premarket
Fri, Jun. 24, 3:46 PM
- Priceline (PCLN -12%) has plunged to four-month lows, but Piper Jaffray's Michael Olson sees a buying opportunity in online travel stocks, believing Brexit should not have a significant impact on European travel trends because the move will not have a major impact on consumer confidence.
- Olson thinks the protracted nature of the EU withdrawal process will ease its impact on consumer sentiment in Europe, and the European Central Bank already has implemented stabilization measures that should mitigate Brexit's impact on European consumer confidence.
- The U.K. represents just under 7% of the continent's travel demand, while a large portion of European travel consists of consumers traveling within their own countries, Olson says, adding that about half of PCLN's bookings are made by Europeans.
- Olson keeps Overweight ratings for PCLN, Expedia (EXPE -7%) and TripAdvisor (TRIP -6.1%), with respective price targets of $1,500, $147 and $95.
Wed, Jun. 22, 8:40 AM
- Shares of Priceline (NASDAQ:PCLN) are on watch after a timely upgrade from Barclays arrives.
- The investment firm moves to an Overweight rating from Equal Weight on its view profit margins will expand.
- "PCLN still stands out to us as an inexpensive name relative to structural trends and expected growth. We believe there is a valuation disconnect from concerns that are either timing-related or mostly played out," reads the note from analyst Christopher Merwin.
- PCLN +2.01% premarket to $1370.00.
Wed, Jun. 15, 7:34 AM| Wed, Jun. 15, 7:34 AM | 2 Comments
Mon, Jun. 6, 4:04 PM
- With Kayak, Travelocity, HomeAway, and Orbitz having all been acquired, a Priceline (NASDAQ:PCLN) purchase of TripAdvisor (TRIP +4.9%) could be the online travel industry's next big M&A transaction, argue Bloomberg's Tara Lachapelle and Rani Molla.
- The authors highlight the recent stagnation of Priceline's shares, and the fact TripAdvisor is well off its highs. Some challenges to a deal: TripAdvisor currently sports a $10.4B market cap and has a somewhat lofty valuation (32x a 2017 EPS consensus of $2.26), and TripAdvisor's ties to John Malone's Liberty Interactive (which controls Priceline archrival Expedia) could get in the way.
- Though still down 17% YTD, TripAdvisor rallied to its highest levels since January today. Volume (3.05M shares) was well above a 3-month daily average of 2.16M.
Fri, Jun. 3, 7:23 PM
- Paul Hennessy, the CEO of Priceline's (NASDAQ:PCLN) Priceline.com unit since last year, has resigned to "pursue an e-commerce opportunity outside of the travel space." Brett Keller, most recently Priceline.com's COO and before that its marketing chief, has been named interim CEO of the unit.
- Hennessy's departure follows the resignation of Darren Huston, who had been both CEO of Priceline overall and of its Booking.com unit (easily the company's biggest revenue-generator), due to a relationship with an employee. Former Priceline CEO Jeff Boyd is serving as interim CEO, and former Booking.com COO Gillian Tans has been named Booking.com's CEO.
Mon, May 23, 12:39 PM
- "Politics is now a topic in every client discussion," say David Kostin and team, and the nature of today's electorate nearly assures a close race, even though prediction markets currently assign a high probability of a Clinton victory.
- When uncertainty rises, consumer staples (NYSEARCA:XLP) typically outperforms, while tech (NYSEARCA:XLK) lags.
- Getting down to names, with protectionism and tax policy two key areas of debate, buy those stocks with high U.S. sales and high effective tax rates, and avoid those with high foreign sales and low tax rates.
- High U.S. sales and high tax rates (buy): Cardinal Health (NYSE:CAH), Fidelity National (NYSE:FIS), Discover (NYSE:DFS), AmerisourceBergen (NYSE:ABC), Schwab (NYSE:SCHW), ADP (NASDAQ:ADP), Chipotle (NYSE:CMG), Reynolds America (NYSE:RAI), Express Scripts (NASDAQ:ESRX), Alliance Data (NYSE:ADS), Fiserv (NASDAQ:FISV), Paychex (NASDAQ:PAYX), Whole Foods (NASDAQ:WFM), Akamai (NASDAQ:AKAM), Intuit (NASDAQ:INTU), Southwest Airlines (NYSE:LUV).
- High foreign sales and low tax rates (avoid): Abbott Labs (NYSE:ABT), Agilent (NYSE:A), Mondelez (NASDAQ:MDLZ), XL Group (NYSE:XL), Waters (NYSE:WAT), Priceline (NASDAQ:PCLN), Transocean (NYSE:RIG), PerkinElmer (NYSE:PKI), Nvidia (NASDAQ:NVDA), Lam Research (NASDAQ:LRCX), Western Digital (NASDAQ:WDC).
Wed, May 11, 12:28 PM
- "The mall is not dead, it has just moved online," asserts EQM Indexes CEO and SA contributor Jane Edmondson. Though her analysis is not entirely new, it's certainly well-timed amid a battering of mall-based chains this week (see reports on L Brands, Gap, and Macy's for some of the carnage details).
- EQM licensed its online retail index to ETF provider Amplify Investment for use in the new Amplify Online Retail ETF (NASDAQ:IBUY).
- The online retail ETF lists Copart (NASDAQ:CPRT), NutriSystem (NASDAQ:NTRI), PetMed Express (NASDAQ:PETS), Shutterfly (NASDAQ:SFLY), Amazon (of course), PayPal (NASDAQ:PYPL), Stamps.com (NASDAQ:STMP), Grubhub (NYSE:GRUB), Overstock.com (NASDAQ:OSTK), FTD Companies (NASDAQ:FTD), Wayfair (NYSE:W), Netflix (NASDAQ:NFLX), Priceline (NASDAQ:PCLN), and Lands End (NASDAQ:LE) as top holdings.
- The fund has only traded for a few weeks, but could catch some attention with the ground shifting underneath traditional retail.
- Earlier today, the Global Millennials Thematic ETF (NASDAQ:MILN) was highlighted. This ETF shares some of the same holdings as the online retail play and has Amazon as its top holding.
- Complete list of Amplify Online Retail ETF holdings
- Previously: Amazon rambles to all-time high amid retail chaos (May 11)
The Priceline Group, Inc. is an online travel company, which provides travel and related services. It offers accommodation reservations including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties. The company provides services through Booking.com,... More
Industry: General Entertainment
Country: United States