JetBlue Airways (NASDAQ:JBLU) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Key Points

• Goldman Sachs raised its price target on JetBlue Airways from $3.50 to $4.50, while keeping a sell rating. The new target still implies a downside from the stock’s current price.
• Analyst sentiment remains cautious overall, with the broader consensus at “Reduce” and a consensus price target of $5.21. Other firms have mixed views, including some upgrades, but sell and hold ratings still dominate.
• JetBlue posted weaker-than-expected quarterly earnings, reporting a loss of $0.87 per share versus estimates for a $0.72 loss. Revenue matched expectations at $2.24 billion, and the company continues to face negative margins and leverage concerns.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) had its target price raised by equities researchers at The Goldman Sachs Group from $3.50 to $4.50 in a report released on Thursday,Benzinga reports. The firm presently has a "sell" rating on the transportation company's stock. The Goldman Sachs Group's target price indicates a potential downside of 23.99% from the stock's current price.

Several other research analysts have also issued reports on the company. Seaport Research Partners upgraded JetBlue Airways from a "neutral" rating to a "buy" rating and set a $8.00 target price for the company in a research report on Thursday, April 16th. BMO Capital Markets began coverage on JetBlue Airways in a research note on Tuesday, March 24th. They set a "market perform" rating and a $4.50 price target for the company. TD Cowen upgraded JetBlue Airways from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 10th. Susquehanna upped their price objective on JetBlue Airways from $4.00 to $5.00 and gave the company a "neutral" rating in a research report on Thursday, April 30th. Finally, UBS Group increased their target price on JetBlue Airways from $4.00 to $4.50 and gave the stock a "sell" rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $5.21.

JetBlue Airways Stock Up 3.3%

NASDAQ JBLU opened at $5.92 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 4.25. JetBlue Airways has a 52 week low of $3.87 and a 52 week high of $6.50. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -3.05 and a beta of 1.73. The company has a fifty day moving average of $5.13 and a two-hundred day moving average of $5.07.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last announced its earnings results on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.15). JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The firm had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same period in the prior year, the company posted ($0.59) EPS. The company's revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that JetBlue Airways will post -2.67 earnings per share for the current year.

Insider Transactions at JetBlue Airways

In related news, Director Thomas Winkelmann sold 35,473 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $4.70, for a total value of $166,723.10. Following the transaction, the director owned 13,379 shares of the company's stock, valued at $62,881.30. This represents a 72.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vivek Sharma sold 32,000 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the transaction, the director owned 35,479 shares in the company, valued at $191,941.39. The trade was a 47.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On JetBlue Airways

A number of hedge funds and other institutional investors have recently made changes to their positions in JBLU. Rockefeller Capital Management L.P. increased its stake in shares of JetBlue Airways by 157.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company's stock valued at $25,000 after buying an additional 3,373 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in JetBlue Airways by 639.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company's stock worth $29,000 after buying an additional 5,049 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in JetBlue Airways during the fourth quarter worth $30,000. Leonteq Securities AG purchased a new stake in JetBlue Airways during the fourth quarter worth $32,000. Finally, Essential Partners LLC boosted its position in JetBlue Airways by 1,048.5% during the 1st quarter. Essential Partners LLC now owns 7,293 shares of the transportation company's stock valued at $32,000 after acquiring an additional 6,658 shares in the last quarter. Institutional investors own 83.71% of the company's stock.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline's core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.

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