The Flight Centre Travel Group Ltd (ASX: FLT) share price went on a rollercoaster ride throughout 2022. Its shares reached a year to date high of $21.27 on 17 February before sharply pulling back by almost 20% based on yesterday's market close.
It appears that investors have mixed feelings about the value of Flight Centre shares in the current climate.
At Wednesday's closing bell, Flight Centre shares finished the day up 2.91% at $17.70.
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What happened to Flight Centre shares during 2022?
The volatility in the Flight Centre share price this year has driven by COVID-19, along with geopolitical tensions between Ukraine and Russia. This has resulted in a sluggish recovery across the travel market as the latter could spiral into a much larger regional conflict.
While Australia continued to deal with COVID-19, Flight Centre shares came to life in mid-February. This was due to the pandemic slowly subsiding and the world moving into a post-COVID-19 era.
As such, the company's shares touched their highest level since early November 2021.
However, Russia's war with Ukraine has put the world on edge and caused negative sentiment across rocked global markets.
With visibility surrounding the resumption of travel remaining murky, this has led to Flight Centre shares to sink. In the past month alone, the travel agent's shares have fallen by around 12%.
With no end in sight for now, investors will be wondering how the company is tracking financially for the second-half of FY22.
It is worth noting that the business is a much leaner and more efficient cost base model compared to pre-COVID. This is expected to translate to bumper profits when considering the long-term.
Is the Flight Centre share price attractively valued?
A number of brokers weighed in on the Flight Centre share price following the company's half-year results.
The team at Macquarie raised its 12-month price target by 5.6% to $18.85 for Flight Centre shares.
UBS also had a similar view, lifting its outlook by 1.3% to $19.10 per share.
On the other hand, Goldman Sachs cut its rating on the company's shares by 4.4% to $19.50. Its analysts believe that there is still some value left in the travel agent over the next 12 months.
Flight Centre share price summary
It's been a challenging year for Flight Centre shareholders, despite hovering in neutral territory in the last 12 months.
While hitting a low of $13.67 in August, the company's shares have staged a small but choppy rebound for now. There is currently a strong support level from where Flight Centre shares trade right now.
