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Sabre (SABR) Renews Multi-Year Deal With JetBlue Airways
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Sabre Corporation (SABR - Free Report) and JetBlue Airways Corporation (JBLU) recently extended their long-standing relationship with a new multi-year agreement. Sabre will continue to provide its SabreSonic Passenger Service System (“PSS”) and Global Distribution System (“GDS”) to JetBlue under the new agreement.
The renewed agreement reaffirms JetBlue's trust in Sabre's PSS and GDS solutions. The company’s PSS solution will help the airline deliver a more tailored customer experience, thereby generating additional revenue opportunities.
Sabre’s GDS is a New Distribution Capability-enabled consistent end-to-end workflow solution, which works like a marketplace connecting travel suppliers with buyers. JetBlue will use this platform to expand its content regime and services while creating compelling offers for its customers.
With more relaxation in pandemic-related restrictions worldwide, Sabre is well-poised to capitalize on the global travel industry’s improving market scenario. The Travel Solutions segment’s revenues totaled $603.6 million in the third quarter of 2022 compared with the year-ago quarter’s $390.4 million. This was primarily driven by a gradual recovery in global air and other bookings.
On Feb 9, SABR revealed that it inked a strategic technology partnership with Simplenight, a global technology company that builds innovative enterprise solutions, including customizable book ability, cloud-based distribution, dynamic packaging and merchandising. Per the deal, Simplenight will be leveraging the TX-based company’s Virtual Payments solution as its business-to-business payment provider.
In late January 2023, Sabre announced that it entered a new, long-term agreement with System Distribution Czech S.R.O. The new partnership will provide travel agents in the Czech Republic with enhanced opportunities to access and leverage Sabre technology and products.
The leading travel-related software and technology provider has a customer base spread over 160 nations globally. Sabre is one of the largest marketplaces in the world that manages approximately $260 billion worth of global travel spending annually. Currently, it has more than 425,000 agency partners worldwide.
Sabre reported revenues of $663.4 million in the third quarter of 2022. The top line was 50% higher than $441.1 million in the year-ago period. This surge reflected a significant improvement in the company’s global air, hotel and other bookings.
Zacks Rank & Stocks to Consider
Currently, Sabre carries a Zacks Rank #3 (Hold). Shares of SABR have declined 37.2% over the past year.
The Zacks Consensus Estimate for Clarivate’s fourth-quarter 2023 earnings has remained unchanged at 17 cents per share over the past 60 days. For 2022, earnings estimates have been revised a penny northward to 81 cents per share in the past 60 days.
Clarivate's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 9.4%. Shares of CLVT have fallen 35.3% in the trailing 12 months.
The Zacks Consensus Estimate for RingCentral's fourth-quarter 2022 earnings has remained unchanged at 59 cents per share in the past 60 days. For 2022, earnings estimates have remained unchanged at $1.98 per share in the past 60 days.
RingCentral’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 10.1%. Shares of RNG have increased 74% over the past year.
The Zacks Consensus Estimate for ServiceNow's first-quarter 2023 earnings has been revised southward by 3 cents to $2.01 per share over the past 30 days. For 2023, earnings estimates have moved upward by 21 cents to $9.17 per share in the past 30 days.
ServiceNow's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6.9%. Shares of NOW have plunged 22% in the trailing 12 months.
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Sabre (SABR) Renews Multi-Year Deal With JetBlue Airways
Sabre Corporation (SABR - Free Report) and JetBlue Airways Corporation (JBLU) recently extended their long-standing relationship with a new multi-year agreement. Sabre will continue to provide its SabreSonic Passenger Service System (“PSS”) and Global Distribution System (“GDS”) to JetBlue under the new agreement.
The renewed agreement reaffirms JetBlue's trust in Sabre's PSS and GDS solutions. The company’s PSS solution will help the airline deliver a more tailored customer experience, thereby generating additional revenue opportunities.
Sabre’s GDS is a New Distribution Capability-enabled consistent end-to-end workflow solution, which works like a marketplace connecting travel suppliers with buyers. JetBlue will use this platform to expand its content regime and services while creating compelling offers for its customers.
With more relaxation in pandemic-related restrictions worldwide, Sabre is well-poised to capitalize on the global travel industry’s improving market scenario. The Travel Solutions segment’s revenues totaled $603.6 million in the third quarter of 2022 compared with the year-ago quarter’s $390.4 million. This was primarily driven by a gradual recovery in global air and other bookings.
Sabre Corporation Price and Consensus
Sabre Corporation price-consensus-chart | Sabre Corporation Quote
On Feb 9, SABR revealed that it inked a strategic technology partnership with Simplenight, a global technology company that builds innovative enterprise solutions, including customizable book ability, cloud-based distribution, dynamic packaging and merchandising. Per the deal, Simplenight will be leveraging the TX-based company’s Virtual Payments solution as its business-to-business payment provider.
In late January 2023, Sabre announced that it entered a new, long-term agreement with System Distribution Czech S.R.O. The new partnership will provide travel agents in the Czech Republic with enhanced opportunities to access and leverage Sabre technology and products.
The leading travel-related software and technology provider has a customer base spread over 160 nations globally. Sabre is one of the largest marketplaces in the world that manages approximately $260 billion worth of global travel spending annually. Currently, it has more than 425,000 agency partners worldwide.
Sabre reported revenues of $663.4 million in the third quarter of 2022. The top line was 50% higher than $441.1 million in the year-ago period. This surge reflected a significant improvement in the company’s global air, hotel and other bookings.
Zacks Rank & Stocks to Consider
Currently, Sabre carries a Zacks Rank #3 (Hold). Shares of SABR have declined 37.2% over the past year.
Some better-ranked stocks from the broader technology sector are Clarivate Plc (CLVT - Free Report) , RingCentral (RNG - Free Report) and ServiceNow (NOW - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Clarivate’s fourth-quarter 2023 earnings has remained unchanged at 17 cents per share over the past 60 days. For 2022, earnings estimates have been revised a penny northward to 81 cents per share in the past 60 days.
Clarivate's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 9.4%. Shares of CLVT have fallen 35.3% in the trailing 12 months.
The Zacks Consensus Estimate for RingCentral's fourth-quarter 2022 earnings has remained unchanged at 59 cents per share in the past 60 days. For 2022, earnings estimates have remained unchanged at $1.98 per share in the past 60 days.
RingCentral’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 10.1%. Shares of RNG have increased 74% over the past year.
The Zacks Consensus Estimate for ServiceNow's first-quarter 2023 earnings has been revised southward by 3 cents to $2.01 per share over the past 30 days. For 2023, earnings estimates have moved upward by 21 cents to $9.17 per share in the past 30 days.
ServiceNow's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6.9%. Shares of NOW have plunged 22% in the trailing 12 months.