Webjet Ltd (ASX: WEB) shares have been a decent if uninspiring investment to have owned over the past year or two. At market close on Monday, the ASX 200 travel stock enjoyed a 1.50% lift, finishing the trading day at $8.11 a share.
At this pricing, Webjet shares have risen 10% over 2023 to date, as well as 9% over the past 12 months. Investors have also enjoyed a 35% return over the past two years.
However, long-term investors are probably still underwater. The Webjet share price has yet to recover to its pre-COVID highs. In fact, the company is still 23% below where it was back on 17 January 2020.
Check all of that out for yourself below:
But what about where the company stands today? Is the current Webjet share price a buy for new investors and should existing investors hold on? Or is this a good opportunity to cash in any gains (or cut losses) that a Webjet investor might be carrying?
Image source: Getty Images
Are Webjet shares a buy today?
Well, ASX experts seem fairly united on this question. Late last month, my Fool colleague James covered ASX broker UBS' view on Webjet. This expert retained a buy rating on Webjet, complete with a 12-month share price target of $10. UBS likes what the company is doing in the artificial intelligence space, as well as its success with the WebBeds business. So much so that it thinks the company will continue to outperform expectations going forward.
But UBS isn't alone in its optimism. We also recently took stock of the views of another ASX broker in Goldman Sachs. Goldman has also recently given Webjet shares a buy rating. This broker is also excited by the WebBeds business but is also forecasting some healthy dividend increases over the next few years. It has a buy rating and a $9.20 share price target on Webjet right now.
Finally, it's also worth mentioning what Tony Langford of Seneca Financial Solutions has recently come out with.
As reported by The Bull, Langford also gave Webjet a buy rating. Here's what he had to say on the company today:
Webjet provides online travel booking services. The company's WebBeds business is a primary source of growth, generating EBITDA of $89.9 million in the first half of fiscal year 2024, an increase of 41 per cent on the prior corresponding period. WEB expects underlying EBITDA in fiscal year 2024 to be above the midpoint in a range of between $180 million and $190 million. We believe shares in this quality business are undervalued.
So it seems that more than one ASX experts are currently united in a bullish outlook for Webjet shares. No doubt investors will draw great confidence from these rosy outlooks. But we'll have to wait and see what happens with this ASX 200 travel stock over the next 12 months and beyond.
