Nomura Securities Maintains a 'Neutral' on priceline.com (PCLN) ; Cutting Q2 Estimates
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Price: $31.88 -0.78%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on priceline.com (NASDAQ: PCLN) price target of $725.00.
Analyst, Brian Nowak, said, "PCLN reported strong 1Q:12 non-GAAP EPS of $4.28, beating our estimate by 6% and the Street’s estimate by 8%. This marks the 22nd quarterly beat in 24 quarters. Room nights grew 47% (630bp faster than expected), as the company added 14.7mn room nights (the most ever added in a quarter). The stock was weak in the after-hours due to forward guidance, as 2Q:12 EPS guidance ($7.20 to $7.40) just met the consensus estimate of $7.39. We are lowering our 2Q:12 EPS from $7.68 to $7.49, but we do not view this revision as an indication of a weakening in the core business."
For an analyst ratings summary and ratings history on priceline.com click here. For more ratings news on priceline.com click here.
Shares of priceline.com closed at $718.95 yesterday.
Analyst, Brian Nowak, said, "PCLN reported strong 1Q:12 non-GAAP EPS of $4.28, beating our estimate by 6% and the Street’s estimate by 8%. This marks the 22nd quarterly beat in 24 quarters. Room nights grew 47% (630bp faster than expected), as the company added 14.7mn room nights (the most ever added in a quarter). The stock was weak in the after-hours due to forward guidance, as 2Q:12 EPS guidance ($7.20 to $7.40) just met the consensus estimate of $7.39. We are lowering our 2Q:12 EPS from $7.68 to $7.49, but we do not view this revision as an indication of a weakening in the core business."
For an analyst ratings summary and ratings history on priceline.com click here. For more ratings news on priceline.com click here.
Shares of priceline.com closed at $718.95 yesterday.
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