Priceline (NASDAQ:PCLN) stock was pricey 12 years ago at nearly $500 a share, but it still has managed to tally continued gains. This despite a down economy that has sapped tourism spending — and, of course, the fact that its iconic pitchman William Shatner recently got the axe.
So will the steady upward march of Priceline continue from here? Chances are it will. You see, the cut in consumer spending actually has benefited Priceline because of its positioning as a discount travel provider. Though fewer hotels and flights are booked, the desire for better deals has made PCLN a vendor of choice.
What’s more, Priceline is booming because of its growth plans abroad. The most recent Priceline earnings show significant growth in Europe and emerging markets — adding more revenue and profits to the balance sheet.
In short, PCLN stock shouldn’t be making a landing anytime soon.