Sabre Corporation
SABR
recently announced that it has joined Plug and Play’s Travel & Hospitality program. Headquartered in the heart of Silicon Valley, Plug and Play is a global innovation platform that connects exciting start-ups with the largest corporations through its industry-focused accelerator programs.
The collaboration will support Sabre in exploring and gaining early access to the global startup community. This will help the company collaborate with the best start-ups, which can help it accelerate and develop innovative products for the travel and hospitality industry.
“Over the past years, we have accelerated our focus on innovation, both internally and together with strong partners,” said Sundar Narasimhan, the
President of Sabre Labs & Product Strategy
. “Our collaboration with Plug and Play is another milestone on this journey and we are very excited to engage with their world-class community of forward-thinking, driven entrepreneurs to shape the future of travel.”
The latest collaboration reflects SABR’s sustained focus on developing innovative products. Late last month, the company unveiled the SynXis Retail Studio solution that strengthens retail distribution among hoteliers. The new solution enables hoteliers to retail virtually anything while expanding their opportunities to diversify and boost top-line streams outside the room.
Sabre Corporation Price and Consensus
Sabre Corporation price-consensus-chart
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Sabre Corporation Quote
Of late, Sabre has been showing signs of a turnaround with consecutive deal wins from major global airlines, hoteliers and travel agencies. In June this year, the company announced that the Turkey-based online travel marketplace company, Wingie Enuygun, entered a multi-year renewal of the Global Distribution System agreement to accelerate its international growth plans.
In the same month, Sabre strengthened its existing relationship with Hong Kong’s Cathay Pacific Airways by inking a new distribution agreement. Per the deal, Cathay Pacific will be utilizing Sabre’s New Distribution Capability-enabled consistent end-to-end workflow solution to distribute offerings to worldwide travel agencies through Sabre’s travel marketplace.
In May, Sabre entered an agreement to acquire Florida-based Nuvola – a single-destination cloud-based platform providing service optimization software for the hospitality industry. Through this buyout, the company plans to improve its hospitality retailing and merchandising strategy and broaden its property and operations abilities.
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 globally.
Zacks Rank & Stocks to Consider
Currently, Sabre carries a Zacks Rank #3 (Hold). Shares of SABR have plunged 23.1% year to date (“YTD”).
Some better-ranked stocks worth considering from the broader technology sector are
Broadcom
AVGO
,
Synopsys
SNPS
and
CrowdStrike
CRWD
. Broadcom and Synopsys each sport a Zacks Rank #1 (Strong Buy), while CrowdStrike carries a Zacks Rank #2 (Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here
.
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Broadcom’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 2.2%. Shares of AVGO have plunged 27.4% YTD.
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Synopsys’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 2.7%. Shares of SNPS have decreased 15.9% YTD.
The Zacks Consensus Estimate for CrowdStrike’s second-quarter fiscal 2023 earnings has been revised upward by three cents to 29 cents per share in the past 60 days. For fiscal 2023, earnings estimates have moved north by 11 cents to $1.23 per share in the past 60 days.
CrowdStrike’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 44.3%. Shares of CRWD have plunged 9.1% YTD.
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