According to a report published by Reuters, airline companies in the U.S., including JetBlue Airways Corp. (NASDAQ: JBLU), Delta Air Lines, Inc. (NYSE: DAL), United Airlines Holdings, Inc. (NASDAQ: UAL) and American Airlines Group, Inc. (NASDAQ: AAL), canceled thousands of flights during the past weekend following a forecast of a winter storm across the Northeast and Mid-Atlantic.
The National Weather Service had issued an advisory in which it said that the Nor’easter could cause dangerous blizzards, making travel “nearly impossible.”
Flight-tracking service FlightAware said that around 4,900 flights were canceled in the U.S. between Friday and Sunday.
Delta Air Lines canceled 1,290 flights after suspending operations at Logan airport in Boston, Newark Liberty airport in New Jersey and LaGuardia and John F. Kennedy airports in New York.
American Airlines canceled nearly 1,160 flights, JetBlue canceled about 500 flights, and United Airlines canceled 21% of its flights on Saturday.
New York-based low-cost airline JetBlue operates more than 1,000 flights daily and serves 100 domestic and international destinations in the U.S., Mexico, the Caribbean, Central America, South America, and Europe.
JBLU stock price slipped 0.4% in after-hours trading on Friday to end the day at $13.85.
Wall Street’s Take
Last week, J.P. Morgan (NYSE: JPM) analyst Jamie Baker maintained a Buy rating on JetBlue with a price target of $24 (72.7% upside potential).
Additionally, Duane Pfennigwerth of Evercore ISI reiterated a Hold rating on the stock with a $17 price target (22.3% upside potential).
Overall, the stock has a Moderate Buy consensus rating based on 4 Buys, 3 Holds and 1 Sell. The average JBLU stock forecast of $18.81 implies 35.3% upside potential. Shares have lost 5.4% year-to-date.
TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (NYSE: SEMR), the world’s biggest website usage monitoring service, offers insight into JetBlue’s performance.
According to the tool, compared to the previous year, JetBlue’s website traffic registered a 36% rise in global visits in December. Moreover, the website traffic has increased 38.1% year-to-date against the same period last year.
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