Priceline Group Inc (NASDAQ:PCLN), the world leader in online travel experiences and parent company of six major brands including Booking.com, priceline.com, KAYAK, agoda.com, Rentalcars.com and OpenTable,
announced that Brett Keller has been named Interim Chief Executive Officer of priceline.com, a subsidiary business of The Priceline Group, effective immediately. Mr. Keller will report to Jeffery H. Boyd, Interim CEO and Chairman of the Board for The Priceline Group. Paul J. Hennessy, who has acted as CEO ofpriceline.com since 2015, has resigned to pursue an ecommerce opportunity outside of the travel space.
A veteran executive of priceline.com, Mr. Keller most recently served as Chief Operating Officer of the business, and prior to that, as Chief Marketing Officer. Keller joined priceline.com in 1999 and over the past 17 years has played a central role in growing the business and evolving the brand’s product and go-to-market strategies for its diverse set digital offerings.
“We could not be more fortunate to have Brett, a 17-year veteran of the business, step into the role of interim CEO of priceline.com,” said Boyd. “I am confident that his expertise in all facets of the priceline.com business and his passion for the brand will ensure a seamless transition upon Paul’s departure, and I look forward to working with Brett as we continue to pursue this iconic brand’s evolution in a changing marketplace. We thank Paul for his dedication to the Group over the last 16 years.”
“Priceline.com has a long history of bringing its loyal customer base the absolute best deals in travel,” said Keller. “I have been a part of this journey alongside the priceline.com leadership team and Jeff Boyd for many years and look forward to continued product innovation, further adapting and innovating around our passion to deliver customers the best deals across all digital platforms.”
Prior to joining priceline.com, Brett managed Cendant’s online travel businesses as a Director of Online Travel. Brett holds an MBA from Cornell’sJohnson Graduate School of Management and an undergraduate degree in Japanese from Brigham Young University. He also serves on the board of directors for Broadridge Financial Solutions.(Original Source)
Shares of Priceline closed today at $1,301.71, up $11.71 or 0.91%. 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 $1295.54 and its 200-day moving average is $1248.23.
On the ratings front, PCLN has been the subject of a number of recent research reports. In a report issued on May 20, Cantor Fitzgerald analyst Youssef Squali reiterated a Buy rating on PCLN, with a price target of $1525, which represents a potential upside of 19.1% from where the stock is currently trading. Separately, on May 5, Credit Suisse’s Stephen Ju reiterated a Buy rating on the stock and has a price target of $1580.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Youssef Squali and Stephen Ju have a total average return of 14.3% and 14.5% respectively. Squali has a success rate of 65.9% and is ranked #11 out of 3896 analysts, while Ju has a success rate of 69.5% and is ranked #58.
Overall, 4 research analysts have assigned a Hold rating and 12 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 $1466.67 which is 14.5% above where the stock opened today.
The Priceline Group, Inc. is an online travel company, which provides travel and related services. It offers accommodation reservations including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties. The company provides services through Booking.com, priceline.com, agoda.com, KAYAK, rentalcars.com and OpenTable brands. Its priceline.com brand also offers consumers reservations for rental cars, airline tickets, vacation packages and cruises. The company also allows consumers to easily compare airline ticket, hotel reservation and rental car reservation information from hundreds of travel websites at once through KAYAK.