Delta Air Lines (NYSE:DAL) is slated to release its first quarter Fiscal 2024 results on April 10, before the market opens. It is worth noting that ahead of the Q1 release, DAL’s web traffic trends indicate a positive scenario for its top line in Q1. Moreover, two Top-rated analysts reiterated their bullish stance on DAL stock this week.
Before moving ahead, investors should note that TipRanks ranks the Top analysts according to industry, timeline, and benchmarks. The ranking reflects an analyst’s ability to deliver higher returns through recommendations.
Encouraging Website Traffic Trend
Investors can use TipRanks’ Website Traffic Tool to gain insights into a company’s upcoming earnings report. The tool offers information on how a company’s website domain performed over a specific time frame.
According to the tool, total visits to delta.com grew in January and February by 66.7% and 47.1%, respectively, year-over-year. Given the consistent growth pattern in the past few months, it would be reasonable to assume that March also witnessed a considerable increase in website traffic.
The rising traffic indicates that the demand for the company’s products remained strong during the quarter and might have supported top-line growth.
Learn how Website Traffic can help you research your favorite stocks.
Top Analysts Bullish Ahead of DAL’s Q1 Report
Interestingly, five-star analyst Helane Becker from TD Cowen, who is also the Most Accurate analyst for Delta Air Lines stock, maintained a Buy rating. Becker has an average return of 10.8% and a success rate of 76% on DAL. She remains optimistic about the impact of higher corporate travel on the company’s performance.
Another Top analyst, Savanthi Syth from Raymond James, raised the price target on the stock to $58 (22.6% upside potential) from $55.
Overall, Wall Street analysts expect adjusted earnings of $0.36 per share, up 44% year-over-year. Meanwhile, the company is expected to post revenue of $12.52 billion, down 1.9% from the prior-year quarter.
Is DAL a Good Stock to Buy?
On TipRanks, Delta has a Strong Buy consensus rating based on 13 unanimous Buy ratings. The analysts’ average price target on DAL stock of $55.50 implies 17.29% upside potential. Shares of the company have gained about 18% year-to-date.
Insights from Options Trading Activity
Options traders are pricing in a +/- 5.62% move on DAL’s earnings, greater than the previous quarter’s earnings-related move of -8.97%.
The anticipated earnings move is determined by computing the at-the-money straddle of the options closest to the expiration after the earnings announcement.
Learn more about TipRanks’ Options tool here.
Concluding Thoughts
Delta is expected to deliver strong Q1 results due to robust travel demand. Also, the company’s focus on expanding its premium offerings and growing its loyalty programs might have supported top-line growth. Furthermore, positive opinions from Top analysts and encouraging website traffic trends help instill confidence in the stock.
