Global Business Travel Group (NYSE:GBTG) Shares Up 9.6% Following Better-Than-Expected Earnings

Key Points

• Global Business Travel Group (GBTG) shares increased by 9.6% after reporting better-than-expected earnings, with an EPS of $0.03 compared to a consensus estimate of $0.02.
• The company generated $631 million in revenue for the quarter, surpassing analysts' expectations of $624.12 million.
• Analysts have varied opinions on GBTG, with UBS raising their price target to $11.00 and a consensus rating of "Moderate Buy" with an average target price of $9.90.

Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) shot up 9.6% during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $7.07 and last traded at $7.13. 181,935 shares changed hands during trading, a decline of 80% from the average session volume of 899,343 shares. The stock had previously closed at $6.50.

The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $631.00 million for the quarter, compared to analysts' expectations of $624.12 million. Global Business Travel Group had a negative return on equity of 0.61% and a negative net margin of 1.81%.

Wall Street Analyst Weigh In

GBTG has been the subject of a number of recent analyst reports. UBS Group increased their price objective on Global Business Travel Group from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday. Wall Street Zen downgraded Global Business Travel Group from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Global Business Travel Group presently has a consensus rating of "Moderate Buy" and an average target price of $9.90.

Hedge Funds Weigh In On Global Business Travel Group

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in Global Business Travel Group by 2,340.7% during the first quarter. GAMMA Investing LLC now owns 5,394 shares of the company's stock worth $39,000 after buying an additional 5,173 shares during the last quarter. Rhumbline Advisers increased its position in Global Business Travel Group by 13.9% during the first quarter. Rhumbline Advisers now owns 179,539 shares of the company's stock worth $1,303,000 after buying an additional 21,976 shares during the last quarter. Bank of America Corp DE increased its position in Global Business Travel Group by 40.6% during the fourth quarter. Bank of America Corp DE now owns 224,397 shares of the company's stock worth $2,082,000 after buying an additional 64,828 shares during the last quarter. Golden State Wealth Management LLC increased its position in Global Business Travel Group by 59.2% during the first quarter. Golden State Wealth Management LLC now owns 388,155 shares of the company's stock worth $2,818,000 after buying an additional 144,303 shares during the last quarter. Finally, Deutsche Bank AG increased its position in Global Business Travel Group by 63.9% during the fourth quarter. Deutsche Bank AG now owns 117,079 shares of the company's stock worth $1,086,000 after buying an additional 45,641 shares during the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.

Global Business Travel Group Price Performance

The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -74.14 and a beta of 0.73. The company's 50-day simple moving average is $6.38 and its 200 day simple moving average is $7.11.

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.

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