The Goldman Sachs Group Has Lowered Expectations for Azul (NYSE:AZUL) Stock Price

Azul (NYSE:AZUL) had its price objective reduced by research analysts at The Goldman Sachs Group from $3.10 to $2.70 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 15.14% from the company’s previous close.

Separately, Seaport Res Ptn cut Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.40.

Azul Price Performance

Shares of Azul stock opened at $2.35 on Thursday. Azul has a 1-year low of $1.57 and a 1-year high of $8.73. The stock has a market cap of $988.58 million, a P/E ratio of -0.33 and a beta of 1.95. The stock’s 50 day simple moving average is $2.17 and its 200-day simple moving average is $3.06.

Institutional Investors Weigh In On Azul

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning purchased a new position in shares of Azul during the 3rd quarter worth $35,000. Ground Swell Capital LLC acquired a new position in Azul in the third quarter valued at about $44,000. Sanctuary Advisors LLC purchased a new position in Azul during the second quarter worth about $51,000. Inspire Advisors LLC increased its position in shares of Azul by 84.0% during the third quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock valued at $142,000 after acquiring an additional 18,861 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Azul in the 3rd quarter valued at approximately $306,000. Hedge funds and other institutional investors own 0.82% of the company’s stock.

About Azul

Azul SA, together with its subsidiaries, provides air transportation services in Brazil and internationally. As of December 31, 2023, the company operated approximately 1,000 daily departures to 160 destinations through a network of 300 non-stop routes with an operating fleet of 183 aircraft and a passenger contractual fleet of 189 aircraft.