Priceline’s Stock to Cross $1000
If stocks could talk, Priceline.com’s stock would be well within whisper-distance of the heretofore unseen $1,000 a share level. After soaring 70% in just the past year, the stock currently sits around $960 a share and has to only increase by 4% more to reach the $1,000 mark.
When it crosses the $1,000 a share threshold, it will be the first time in the S&P 500’s fifty-six-year history. Google has the next highest stock price at around $880 a share.
Congratulations to @Priceline on their stock price. Wish I hadn’t sold my stock all those years ago.
— William Shatner (@WilliamShatner) August 9, 2013
Priceline.com’s stock is seeing such huge growth because the company has been performing exceedingly well both domestically and internationally. Net income rose 24% in the second quarter, and travel bookings rose an incredible 38%. Internationally, travel bookings rose 44% (the 5th quarter in a row of 40%+ raises).
“Priceline is one of the few stocks on a monster run in 2013 where the company has grown earnings just as quickly as the stock has appreciated,” said Enis Taner, global macro editor for RiskReversal.com. “In the past three years earnings have tripled and the stock has tripled. This stock is no bubble.”
Based on Priceline’s recent earnings reports, Wall Street analysts see the stock topping $1,100 a share in short order!