Priceline.com was up 1 9/16 at 32 11/16 early Tuesday, a day after reporting better-than-expected results for the second quarter. Goldman Sachs analyst Anthony Noto repeated the stock’s position on his firm’s Recommended List, citing “significant growth potential.”
Priceline shares fell Monday after the report. “The stock is trading at its 52-week low and at a 45 percent discount to other high-growth consumer businesses,” Noto said. Noto also raised his revenue and earnings estimates for Priceline, saying he expects the company to break even in the third quarter. Moreover, he said, “the company will not need to return to the capital markets for funding.”
The name-your-price e-tailer said Monday that it lost one cent per share before items, as revenue topped $352 million. President and Chief Executive Officer Daniel H. Schulman said the company is “on the homestretch toward profitability.”
Noto raised his estimate of Priceline’s revenue for the year to $1.44 billion from $1.38 billion, and his earnings-per-share forecast to a loss of 5 cents from a loss of 10 cents.
Loading ...
Social Media
See all Social Media