Global Business Travel Group (NYSE:GBTG) Price Target Lowered to $9.00 at Citigroup

Global Business Travel Group (NYSE:GBTG) had its target price cut by Citigroup from $11.00 to $9.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on GBTG. UBS Group lowered their price target on Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday. Evercore raised their price objective on shares of Global Business Travel Group from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Monday, December 1st. Wall Street Zen raised shares of Global Business Travel Group from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Morgan Stanley dropped their target price on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Zacks Research upgraded shares of Global Business Travel Group from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.40.

Global Business Travel Group Stock Down 1.3%

Shares of Global Business Travel Group stock opened at $5.50 on Thursday. The company’s fifty day simple moving average is $6.41 and its two-hundred day simple moving average is $7.37. The company has a market cap of $2.88 billion, a P/E ratio of 23.89 and a beta of 0.77. The company has a current ratio of 1.14, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. Global Business Travel Group has a 12-month low of $4.95 and a 12-month high of $8.64.

Global Business Travel Group (NYSE:GBTG) last posted its quarterly earnings data on Monday, March 9th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. Global Business Travel Group had a return on equity of 6.20% and a net margin of 4.01%.The business had revenue of $792.00 million during the quarter, compared to the consensus estimate of $789.48 million. Research analysts anticipate that Global Business Travel Group will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Global Business Travel Group

Several large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Global Business Travel Group in the 3rd quarter worth $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Global Business Travel Group in the fourth quarter valued at about $32,000. Advisory Services Network LLC bought a new position in shares of Global Business Travel Group in the third quarter worth about $61,000. CWM LLC boosted its stake in shares of Global Business Travel Group by 21.1% in the third quarter. CWM LLC now owns 7,630 shares of the company’s stock worth $62,000 after acquiring an additional 1,332 shares during the period. Finally, Creative Planning purchased a new stake in shares of Global Business Travel Group during the second quarter worth about $67,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

About Global Business Travel Group

Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.