Oppenheimer Comments On Priceline's Last-Minute Booking App
Priceline Group Inc (NASDAQ: PCLN) on Thursday launched a new app called Booking Now, which is the first truly global app for spontaneous bookings.
Manish Hemrajani of Oppenheimer commented on Friday in a note that the new app lends itself to the evolving trends in booking, consumer and accommodation behavior along with the emergence of a new consumer segment, the “spontaneous booker.”
“Using ‘Tinder-like' mechanics, users are able to search nearby lodging matches by swiping left or right, based on their preferences,” Hemrajani wrote. “As the consumer landscape shifts toward an on-demand economy, we expect this new Priceline feature to accommodate its users on a more personalized level.”
Hemrajani adds that the new app will not replace the company's already existing Booking.com app, but will provide a “slimmed down” version of the car app. The analyst adds that Booking Now may even supersede the full-service app.
Bottom line, the app caters to a small but growing group of travelers and should be viewed positively.
Latest Ratings for PCLN
Jan 2015 | Stifel Nicolaus | Downgrades | Buy | |
Dec 2014 | Bank of America | Maintains | Buy | |
Dec 2014 | FBR Capital | Downgrades | Outperform | Market Perform |
View More Analyst Ratings for PCLN
View the Latest Analyst Ratings
See more from Benzinga
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
