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News Breaks
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November 10, 2009
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| 11:45 EDT |  | PCLN |
| theflyonthewall.com: | Priceline.com rallies on better than expected results, guidance | | Priceline.com (PCLN) reported Q3 EPS of $3.45, versus analysts' consensus estimate of $2.92. The company's revenue was also higher than expected. In addition, Priceline.com provided Q4 EPS guidance of $1.52-$1.62, versus the consensus of $1.49. The company said that its gross travel bookings reached $2.7B in Q3, representing a year-over-year surge of 32.8%. "Despite a difficult economic environment, the summer travel season turned out to be an exceptionally strong one for Priceline.com, as third quarter growth rates accelerated sequentially for our international and domestic businesses," said Priceline.com CEO Jeffery H. Boyd. "On a global basis, Priceline.com continued to increase its market share," Boyd added. A Citigroup analyst responded to Priceline.com's results and guidance by hiking its target on the stock to $240 from $200. The firm sees several reasons why the company is performing well, including the positive performance of Internet retailers during the recession, easier comps, and outstanding execution. The firm reiterates a Buy rating on the stock. In late morning trading, Priceline.com jumped $33.72, or 19.32%, to $207.30. :theflyonthewall.com |
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February 10, 2012
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| 09:00 EDT |  | PCLN |
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