The Priceline Group Inc. PCLN recently announced the appointment of Lynn M. Vojvodich to its board of directors, effective Jan 1, 2016.
Vojvodich previously served as the Executive Vice President and Chief Marketing Officer of salesforce.com, inc. CRM. She has been associated with the company since 2013 and in charge of driving market leadership, global awareness, demand generation, strategic events and communications.
Alongside, she has been a partner at Andreessen Horowitz where she built go-to-market strategies for client companies. Moreover, Vojvodich has worked at various organizations including Bain & Company, Microsoft, and Terracotta.
Vojvodich boasts an undergraduate degree in Product Design and Mechanical Engineering from Stanford University as well as an MBA from Harvard Business School.
Management believes that her able leadership, considerable experience and business proficiency will be an asset for Priceline Group helping it to achieve the long-term goals.
Priceline recently announced decent third-quarter 2015 results wherein the company managed to beat the Zacks Consensus Estimate for both the top line and the bottom line. However, management issued weak guidance for the upcoming quarter, with revenue expectation of $1.92 billion at the mid-point, lower than our estimate of $2.06 billion.
To Conclude
Priceline is one of the largest online travel companies in the world. The company’s portfolio of brands cover hotel rooms, airline tickets, rental cars, vacation packages, cruises, “things to do” at popular destinations and travel insurance. Deals on hotels, rental cars, air travel and other types of vacation packages are offered on Priceline.com, while Booking.com focuses on accommodations.
We believe that the company’s recent product launches, acquisitions and deal wins will boost results, going ahead. The company’s acquisition of online restaurant reservation company, AS Digital, will expand its presence in the highly competitive digital restaurant reservation booking space.
However, competition from other online players like Expedia EXPE and TripAdvisor TRIP coupled with significant Fx headwinds and uncertainty regarding the time of realizing the synergies keep us on the sidelines. Also, the Zacks Rank #3 (Hold) stock’s exposure to China remains a matter of concern because of the deceleration in the country’s GDP.
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