Why Will Priceline Hit The Magical Figure Of $1,000?

Priceline.com (NASDAQ: PCLN), one of our top stock picks, has been on a speedy journey to the north for a better part of the current year. Having gained over 50% in the year 2013, there are obvious questions lingering in the minds of investors as to how far ahead is the mountain top. Well we the Bulls at Amigo haven’t lost a bit of our love for this stock; in fact, if anything, the latest quarterly performance from the company has given us more reasons to believe that the peak is still up ahead. So why do we believe that? Over the last few years the company has consciously been trying to expand into international markets as the growth in the highly penetrated US markets has slowed down. Therefore the company’s international revenues will continue to fire the top line to higher levels, even as its domestic growth slows. One other important fact in the stock’s rise to the mid-900’s comfortable earnings multiple of 30.89, which is an ideal scenario every investor would want to be in. The reasonable earnings multiple, apart from the continuing strong revenue and earnings growth from the company, is another reason to believe the peak hasn’t yet been reached. For our detailed analysis of this stock visit our top stock picks page to understand why we believe Priceline is headed for the magical price of $1000. The stock moved up by 0.8% in regular trading session yesterday.

To see Priceline’s latest stock price movement, click here (NASDAQ: PCLN)

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Virendra Singh Chauhan Virendra Singh Chauhan   on Amigobulls :

Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice.

Buying and selling of securities carries the risk of monetary losses.Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions.

Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

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