Priceline (PCLN) Stock Higher, Eliminates Name-Your-Own Airfare Option

NEW YORK (TheStreet) -- Shares of Priceline (PCLN) were gaining in midday trading on Thursday as the company removed its name-your-own airfare feature on September 1, the Wall Street Journal reports.

The online auction option, which allowed travelers to name their own price for airline tickets, had lost traction with customers.

But the company still lets customers make an offer for hotel rooms and car rentals. But these transactions are declining, the Journal noted.

The Norwalk, CT-based provider of travel and related services allowed customers to bid on a range of things such as tickets and rental cars, taking a small portion based on the difference between what it paid and the customer's offer.

Priceline said the name-your-own-price feature has had a drop in hotel room bookings since 2011 and had faced competition from rival Expedia (EXPE), the Journal added.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and solid stock price performance.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: PCLN

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