PCLN Priceline, Inc.
August 10, 2009 by Hot Stocks To Buy · Leave a Comment
PCLN (Priceline, Inc.)
- Entry Price: $150.24
- Risk Level: 8
- Profitability Level: 8
- 1year Target Price: $180
Despite the recession, consumers are still demanding for summer leisure travel but at a more manageable price. Priceline has offered the ability for many families to take their summer vacation at deep discounted prices. As a result online booking on Priceline.com has risen by13% to $2.38 billion increasing revenue to 17.5% to $603.7 million. Priceline said it expects the value of its travel bookings to increase in the third quarter by 20 percent.
With reported second-quarter earnings increasing by 35%, income reached $25 million compared to $13.8 million last year. Priceline’s better than expected earnings price of $2.02 per share beat Wall Street analyst’s forecasted price of $1.79 per share.
Beating analysts forecasted figures by.22 cents and improving conditions in the economy makes Priceline.com a hot stock to buy.
