Morgan Stanley Lowers Wheels Up Experience (NYSE:UP) Price Target to $1.30

Wheels Up Experience (NYSE:UPGet Rating) had its price target lowered by research analysts at Morgan Stanley from $2.40 to $1.30 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 2.36% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Credit Suisse Group decreased their target price on shares of Wheels Up Experience from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, November 10th. Raymond James reduced their price objective on shares of Wheels Up Experience from $4.00 to $3.00 and set an “outperform” rating on the stock in a research note on Thursday, November 10th. Finally, BTIG Research reduced their price objective on shares of Wheels Up Experience to $3.75 in a research note on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Wheels Up Experience presently has an average rating of “Hold” and a consensus price target of $3.61.

Wheels Up Experience Trading Down 2.3 %

Shares of UP stock opened at $1.27 on Wednesday. The company has a market capitalization of $314.33 million, a PE ratio of -0.90 and a beta of 1.82. The firm has a fifty day simple moving average of $1.23 and a 200-day simple moving average of $1.61. Wheels Up Experience has a twelve month low of $0.98 and a twelve month high of $4.10.

Wheels Up Experience (NYSE:UPGet Rating) last announced its earnings results on Wednesday, November 9th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.03. The business had revenue of $420.36 million during the quarter, compared to the consensus estimate of $384.22 million. Wheels Up Experience had a negative net margin of 22.70% and a negative return on equity of 51.15%. Equities research analysts predict that Wheels Up Experience will post -1.35 EPS for the current year.

Institutional Trading of Wheels Up Experience

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Wheels Up Experience by 19.9% during the third quarter. BlackRock Inc. now owns 13,103,773 shares of the company’s stock worth $15,068,000 after purchasing an additional 2,173,061 shares during the period. Vanguard Group Inc. raised its holdings in shares of Wheels Up Experience by 2.8% during the third quarter. Vanguard Group Inc. now owns 8,911,681 shares of the company’s stock worth $10,248,000 after purchasing an additional 243,922 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Wheels Up Experience by 8,413.8% during the first quarter. Goldman Sachs Group Inc. now owns 8,069,177 shares of the company’s stock worth $25,095,000 after purchasing an additional 7,974,399 shares during the period. State Street Corp raised its holdings in shares of Wheels Up Experience by 4.0% during the second quarter. State Street Corp now owns 5,370,684 shares of the company’s stock worth $10,473,000 after purchasing an additional 207,630 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Wheels Up Experience by 37.6% during the third quarter. Renaissance Technologies LLC now owns 1,816,006 shares of the company’s stock worth $2,088,000 after purchasing an additional 496,200 shares during the period. 51.31% of the stock is owned by institutional investors and hedge funds.

Wheels Up Experience Company Profile

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Wheels Up Experience Inc provides private aviation services primarily in the United States. The company offers a suite of products and services, which include multi-tiered membership programs, on-demand flights across various private aircraft cabin categories, aircraft management, retail and wholesale charter, whole aircraft acquisitions and sales, corporate flight solutions, special missions, signature events and experiences, and commercial travel.

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