Global Business Travel Group (NYSE:GBTG) Given New $9.00 Price Target at Morgan Stanley

Global Business Travel Group (NYSE:GBTG) had its target price boosted by stock analysts at Morgan Stanley from $7.00 to $9.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock.

Other analysts also recently issued reports about the stock. UBS Group assumed coverage on shares of Global Business Travel Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $11.00 price objective on the stock. Citigroup lifted their price target on Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a report on Friday, October 4th.

Global Business Travel Group Stock Down 2.4 %

NYSE:GBTG opened at $9.00 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.24. The stock has a 50 day moving average of $8.46 and a 200-day moving average of $7.38. The firm has a market capitalization of $4.23 billion, a PE ratio of -25.00 and a beta of 0.73. Global Business Travel Group has a 52 week low of $4.49 and a 52 week high of $9.60.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The company had revenue of $597.00 million for the quarter, compared to the consensus estimate of $611.89 million. Global Business Travel Group had a negative return on equity of 9.70% and a negative net margin of 7.06%. During the same quarter in the previous year, the company earned ($0.02) earnings per share. Analysts predict that Global Business Travel Group will post -0.17 EPS for the current year.

Global Business Travel Group announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 5th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 8.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Global Business Travel Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank raised its position in shares of Global Business Travel Group by 299.1% during the 2nd quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock worth $29,000 after buying an additional 3,254 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Global Business Travel Group during the third quarter valued at approximately $98,000. Principal Financial Group Inc. acquired a new position in shares of Global Business Travel Group during the second quarter valued at approximately $108,000. Quadrature Capital Ltd acquired a new stake in Global Business Travel Group in the third quarter worth approximately $137,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Global Business Travel Group in the second quarter worth approximately $143,000. Institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Company Profile

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.