The Priceline Group Inc (NASDAQ:PCLN) and parent company of six major brands including Booking.com, priceline.com, KAYAK, agoda.com, Rentalcars.com and OpenTable announced that priceline.com’s current interim Chief Executive Officer, Brett Keller, has been named Chief Executive Officer of priceline.com, effective immediately. Mr. Keller will report to Jeffery H. Boyd, Interim CEO and Chairman of the Board for The Priceline Group.
A veteran executive of priceline.com, Mr. Keller was named interim CEO of Priceline.com in June 2016 after serving as Chief Operating Officer of the business, and prior to that, Chief Marketing Officer. Keller joined priceline.com in 1999 and over the past 17 years has played a central role in evolving the brand’s product and go-to-market strategies for its diverse digital offerings.
“We could not be more fortunate to have Brett, a 17-year veteran of the business, step into the role of CEO of priceline.com,” said Boyd. “Brett has been running the business since June of this year, and has been a leader within the organization for over a decade. He knows the business inside and out and I am confident he will continue the brand’s evolution as a leader in online and mobile travel deals.”
“I have been a part of the Priceline.com business for almost all of its history, and I have tremendous passion for the brand and the unique value it delivers to millions of travelers every year,” said Keller. “The priceline.com Leadership Team and I are eager to execute the next chapter of innovation to drive even better travel deals for consumers across all digital platforms.”
Brett holds an MBA from Cornell’s Johnson 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 Group are up nearly 6% to $1,563 in pre-market trading Monday. PCLN has a 1-year high of $1501.79 and a 1-year low of $954.02. The stock’s 50-day moving average is $1463.62 and its 200-day moving average is $1362.53.
On the ratings front, PCLN has been the subject of a number of recent research reports. In a report issued on November 4, Cantor analyst Naved Khan reiterated a Buy rating on PCLN, with a price target of $1560, which implies an upside of 9% from current levels. Separately, on the same day, RBC’s Andrew Bruckner reiterated a Buy rating on the stock and has a price target of $1750.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Naved Khan and Andrew Bruckner have a yearly average return of 18.2% and 0.4% respectively. Khan has a success rate of 76% and is ranked #60 out of 4162 analysts, while Bruckner has a success rate of 47% and is ranked #2116.
Overall, 7 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 $1653.33 which is 15.0% 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 provide services through Booking.com, priceline.com, agoda.com, KAYAK, rentalcars.com and OpenTable brands. It also allows consumers to easily compare airline ticket, hotel reservation and rental car reservation information from hundreds of travel websites at once through KAYAK.