NEW YORK ( TheStreet) --With Priceline.com (PCLN) reporting mixed first-quarter results, analysts still believe there's plenty of room to "negotiate" a higher stock price, despite worries over Europe.
The Norwalk, Conn.-based company posted first-quarter non-GAAP earnings that beat Wall Street expectations, but was cautious on the second quarter, especially in Europe, where it generates the majority of its revenue.
|William Shatner's "Negotiator" may have been killed off, but priceline's chances for higher share price are alive and well, analysts say.|
Bank of American Merrill Lynch analyst Justin Post said the second-quarter guidance was very similar to the first-quarter guidance, and Priceline shares managed to rise 33% in the past three months. The stock was losing 4.5% to $686.78 in morning trades."Priceline built in bookings deceleration in remainder of 2Q into guidance and, if Europe holds up, we see potential for 50%+ ex-FX bookings growth in 2Q (modest deceleration vs 1Q) and bookings upside in 3Q (vs. our 37% ex-FX est.) on easier
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV