Monday, November 7, 2011

Priceline (PCLN) With Yet Another Solid Beat on Earnings, but Guidance a Bit Light - Stock Hit a Tad in After Hours

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Priceline (PCLN) continues to astound and amaze - this is the one that 'got away' for me the past few years as I sold down in the $200s a few years back thinking the run was overdone.  Ouch.  This is now a truly international story and it continues to perform in excellent fashion.  Tonight another beat: $9.95 v $9.30 on the bottom line.  Revenue was a slight beat but still 45% growth!  However, the stock is taking some small damage after hours as the company guides a tad light, but PCLN has been surpassing all their guidances for a few years now so it's probably just lowballing.

Technically, the stock has been basing since April - consolidating a massive move from the prior few years.  As always, the longer the base, the bigger the move once it breaks out.  The only question is direction.




Full report here.

Guidance

  • Priceline predicted fourth-quarter earnings of $4.90 to $5.00 per share, which is below analysts' average forecast for $5.13. .
  • Priceline predicted a year-over-year increase in travel bookings of 39 percent to 44 percent for the fourth quarter.

EDIT 4:23 PM - stock is already back to flat as bargain hunters jump in.

No position

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