Piper Jaffray Says Web Traffic For Priceline Is Accelerating (PCLN)

Piper Jaffray says web traffic for priceline.com PCLN accelerated in August, as the travel & leisure sector continues to rebound. In the research note, Piper Jaffray states, "Unique users in August to priceline.com grew 11% y/y from +24% y/y in July and +16% y/y in Q2." It goes on to write, "Our bookings growth estimates for both Expedia and Priceline call for a deceleration in Q3 from Q2, while both web traffic and industry average room rates have accelerated. We remain positive on the OTA group." Shares of priceline.com closed at $323.80 yesterday.