The Webjet Ltd (ASX: WEB) share price has been climbing in the last month, but could it ascend further?
Webjet shares fell 2.61% today and finished trading at $5.60. It wasn't the only ASX travel share to suffer, with the Qantas Airways Limited (ASX: QAN) share price slipping 0.95% and Flight Centre Travel Group Ltd (ASX: FLT) dropping 2.04%.
However, overall March proved a good month for Webjet, with its shares jumping 5.26% since closing at $5.32 on February 28.
Let's take a look at the outlook for this digital travel business.
Image source: Getty Images
What does the future look like for Webjet?
The team at Goldman Sachs sees Webjet as a "growth share" that could come out stronger on the other side of COVID-19.
Analysts are optimistic on the company's future, my Foolish colleague James recently reported. Goldman sees growth potential for the travel company in the B2B and B2C spaces, along with being positive on the company's balance sheet.
Goldman has placed a $6.90 price target on the Webjet share price, 23% more than the current price.
Webjet could also benefit from upcoming border relaxation in Australia and New Zealand in April. Health Minister Greg Hunt recently announced Australia's biosecurity emergency will lapse on 17 April.
In practical terms, this means the end of restrictions on cruise vessels into and within Australian territory. Negative pre-departure tests for travellers entering Australia will also no longer be required.
Further, the New Zealand Government will be opening the borders to vaccinated arrivals from Australia from 12 April.
Commenting on easing restrictions internationally in a recent blog, Montgomery Small Companies Fund portfolio manager Dominic Rose said:
Both the UK and the European Union have scrapped COVID-19 testing requirements for fully vaccinated travellers.
While recent commentary from numerous US airlines suggests that North American leisure activity is back at or near pre-pandemic levels with corporate improving to 25% to 30% behind.
Webjet may be an Australian and New Zealand company, but it has customers across the globe.
My Foolish colleague Aaron recently reported Webjet shares have more than doubled in the past decade despite the COVID-19 turbulence.
Webjet share price snapshot
The Webjet share price has ascended 8% year to date, while it has climbed 0.36% in the past year.
For perspective, the S&P/ASX 200 Index (ASX: XJO) has gained nearly 11% in the past year.
Webjet has a market capitalisation of about $2.1 billion based on the current share price.
