After the close on Thursday, priceline.com (PCLN: sentiment, chart, options) announced that it banked a first-quarter profit of $18.2 million compared to its year-ago loss of $14.7 million. Pro forma earnings came in at 76 cents per share on revenue of $403.2 million. Analysts had predicted a profit of 51 cents per share on revenue of $373.6 million.

Looking ahead to the second quarter, PCLN predicts pro forma earnings of $1.25 to $1.40 per share and full-year earnings of $5.25 to $5.65 per share. The consensus estimate stands at $1.17 per share for the second quarter, and $4.67 a share for the year.

Technically speaking, the shares are poised to gap 13% higher following the company's stronger-than-expected earnings report and outlook. Today's gap should put the equity above its short-term trading range. Meanwhile, the stock has been in a long-term uptrend since May 2006, rising along the support of its 10-week and 20-week moving averages.

The company could benefit from upgrades today. According to Zacks, the firm has earned 4 "strong buys" and 7 "holds." Any upgrades could help add to the stock's rally.