The Mad Money host has been a fan of this stock for quite some time, in part due to his belief that the company is well positioned to win share in overseas markets. "Two thirds of their booking business is European—and I have heard, over and over this earnings season, that Europe is bottoming or even taking a turn for the better," Cramer said.
However, there's something else underway that Cramer thinks is bullish for the stock and it's not nearly as apparent – ironically it involves changes made by another online travel website, TripAdvisor.
"TripAdvisor has made significant changes to its website and in the process has transformed itself into a powerhouse in the online travel sector," Cramer explained.
The significant changes involve the way in which the TripAdvisor website works.
"Before, when you searched for a hotel, links to the online travel agents such as Priceline and Expedia would immediately pop up. The new model, though, is designed to keep you on TripAdvisor's site for a longer period of time," Cramer explained.
That would seem bearish for Priceline – but Cramer thinks it's just the opposite.