RBC Capital analyst, Mark Mahaney, reiterate his Outperform on shares of The Priceline Group (NASDAQ: PCLN) and raised his price target to $2,050 from $2,000 after Bookings of $20.8B (+19% Y/Y ex-FX) were modestly below Street consensus of 21.0B, while Gross Profit of $2.9B, EBITDA (incl. SBC) of $974MM and Non-GAAP EPS of $15.14 all came in above Street and above the high-end of Q2 guidance. Q3 Bookings, Room Night Growth, and EPS Guides were below Street, while Gross Profit bracketed at the low-end.

The analyst stated "we believe the right read is to compare first half trends in 2017 and 2016, which shows only modest deceleration – and very reasonable for a company Priceline’s size".

For an analyst ratings summary and ratings history on The Priceline Group click here. For more ratings news on The Priceline Group click here.

Shares of The Priceline Group closed at $2049.00 yesterday.