Priceline.com (PCLN 1.56%) continues its march ever higher today after a solid earnings report that beat analysts' expectations for earnings growth. The biggest driver of the increase here is simple: more travelers booking their trips on the priceline.com site.
In this video from Friday's Stock of the Day, Motley Fool analyst Brendan Mathews discusses what he believes to be a secular trend in Priceline's favor. A growing number of people are making their travel bookings online, and with Priceline's Booking.com platform being one of the largest and most convenient to use, more and more people booking their travel plans are gravitating toward the site.
That said, is the stock a buy today, or has it already soared a little too high? Brendan still sees opportunity here for investors to get in. He sees the massive growth tailwind that has been favoring the company as one that will continue, and thinks that at 20 times forward earnings, considering the growth prospects ahead of the company, the stock is fairly valued today.
