Priceline Group Inc (NASDAQ: PCLN) announced that Booking.com, the global leader in connecting travelers with the widest choice of incredible places to stay, and AccorHotels, the world’s leading hotel operator, have renewed their partnership agreement. With thousands of AccorHotels properties currently available on Booking.com, customers will now be able to discover, book and enjoy even more great stays with ease and confidence via Booking.com.
This renewed commitment to provide consumers worldwide with great choice and a seamless experience guarantees that both Booking.com and AccorHotels can continue to grow their businesses together, introducing both new and existing Booking.com customers to outstanding AccorHotels brand experiences in every corner of the globe.
“AccorHotels‘ diverse portfolio of brands is very popular with our customers around the world.“ said Gillian Tans, President and COO of Booking.com “We‘re very pleased to be able to continue to expand that offering and present consumers with even more transparency and choice when it comes to selecting a great place to stay.”
This new agreement goes into affect on 1 April 2016 with new AccorHotels properties continuing to be added to the Booking.com platform over the coming months. Additional terms of the deal have not been disclosed. (Original Source)
Shares of Priceline.com closed yesterday at $1317.03, up $9.14 or 0.70%. PCLN has a 1-year high of $1476.52 and a 1-year low of $954.02. The stock’s 50-day moving average is $1270.57 and its 200-day moving average is $1261.58.
On the ratings front, Priceline.com Inc has been the subject of a number of recent research reports. In a report issued on March 28, UBS analyst Eric Sheridan reiterated a Buy rating on PCLN, with a price target of $1525, which represents a potential upside of 15.8% from where the stock is currently trading. Separately, on March 22, Piper Jaffray’s Michael Olson maintained a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Eric Sheridan and Michael Olson have a total average return of 9.0% and 5.3% respectively. Sheridan has a success rate of 63.8% and is ranked #222 out of 3775 analysts, while Olson has a success rate of 50.3% and is ranked #474.
Overall, 5 research analysts have assigned a Hold rating and 8 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $1458.00 which is 10.7% above where the stock closed yesterday.