Global Business Travel Group (NYSE:GBTG) Price Target Raised to $9.50 at Citigroup

by · The Cerbat Gem

Global Business Travel Group (NYSE:GBTG – Free Report) had its target price boosted by Citigroup from $9.00 to $9.50 in a report released on Friday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Separately, Evercore ISI increased their target price on shares of Global Business Travel Group from $9.00 to $10.00 and gave the stock an outperform rating in a report on Wednesday, August 7th.

Read Our Latest Research Report on GBTG

Global Business Travel Group Price Performance

Shares of Global Business Travel Group stock opened at $7.56 on Friday. The firm has a market capitalization of $3.57 billion, a PE ratio of -19.38 and a beta of 0.64. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.11. Global Business Travel Group has a 12 month low of $4.49 and a 12 month high of $7.79. The business’s 50-day moving average price is $7.09 and its 200-day moving average price is $6.53.

Global Business Travel Group (NYSE:GBTG – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.11. Global Business Travel Group had a negative net margin of 1.66% and a negative return on equity of 1.26%. The business had revenue of $625.00 million during the quarter, compared to the consensus estimate of $643.97 million. Sell-side analysts forecast that Global Business Travel Group will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Global Business Travel Group

Several institutional investors and hedge funds have recently made changes to their positions in GBTG. Par Capital Management Inc. boosted its holdings in Global Business Travel Group by 42.1% in the fourth quarter. Par Capital Management Inc. now owns 770,000 shares of the company’s stock worth $4,966,000 after purchasing an additional 228,149 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Global Business Travel Group in the first quarter worth $109,000. Vanguard Group Inc. increased its position in Global Business Travel Group by 1.1% during the first quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock valued at $5,841,000 after acquiring an additional 10,446 shares during the last quarter. Ionic Capital Management LLC increased its position in Global Business Travel Group by 480.1% during the first quarter. Ionic Capital Management LLC now owns 131,245 shares of the company’s stock valued at $789,000 after acquiring an additional 108,619 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in Global Business Travel Group in the first quarter valued at about $3,383,000. Institutional investors own 82.46% of the company’s stock.

Global Business Travel Group Company Profile

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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.

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