莫羡他人炒股乐，谨防被骗落入“坑”

 莫羡他人炒股乐，谨防被骗落入“坑”

政务：北京房山法院 2024-10-28 18:44

近期股市瞬息万变, 久违的暴涨不断刷新记, 极大刺激着投资者的热情, 但股市震荡下挫, 不少投资者又被“上了一课”.

在谨防交易风险的同时, 还需警惕以炒股盈利为诱饵的诈骗

房山法院法官结合案例以案释法

案情回顾

夏女士退休后，开始学炒股。偶然一次，她在上网时被陌生网友拉入了一个炒股微信群。

微信群中，群友经常相互分享炒股心得，有时候群主还会免费授课，传授投资技巧，并对群友推荐优质个股、推送理财知识。后来，部分群友先后晒出了自己的炒股盈利信息。

刚开始，夏女士只是在群里“潜水”。当看到确实有部分群友通过群主指导获得投资盈利后，夏女士也心动了，便咨询群主如何进行投资。

群主告诉她个股单独操作收益小、见效慢、不稳定，建议她可以考虑将资金打入指定账户，由专业老师集中代为进行操作，盈利率更大，可定期获得投资收益。

于是，夏女士按照群主的指导，在短短的一周内，向某公司账户转账6万元用于炒股。一段时间过去后，夏女士却迟迟未收到群主承诺的投资收益。为此，她提出了让群主退还投资本金的要求，却遭到群主拒绝。

紧接着没几天，夏女士被踢出了微信群。她又通过此前留存的微信群信息试图重新加入这个微信群，却发现微信群已经解散。夏女士又设法联系微信群里的群友，发现所有人都已将她拉黑。

无奈之下，夏女士以委托理财合同纠纷为由将投资公司起诉至法院，要求公司退还投资理财款。

 

诉讼中，法院经调查发现，这家投资公司经营范围并不包含投资理财或相关业务，而且早已经处于吊销、停止营业状态，也无法取得联系。

 

夏女士表示，当时是群主指导她向被告公司账户转账，她从未核实过被告公司是做什么业务的；除了向被告公司转钱之外也未和被告公司有过其他接触或联系；也没有证据证明她与被告公司曾经由协商就委托理财达成过明确具体的合意。

 

夏女士发现被骗，于是撤回起诉并报了警。

 

法官提示

 

投资擦亮眼，真假要分明。部分诈骗团伙利用新媒体平台联系不特定的投资者，而后通过搭建群聊等方式，分别饰演不同角色，将自己打造成股神、炒股大V等，分享虚假获利信息，诱导投资者进行出资，以骗取其资金。

 

因此，广大投资者如确实有投资理财需求且需要获得专业指导或建议时，应尽可能选择正规的专业金融机构进行咨询和投资。

 

必要时，可以向工商行管监管部门了解该金融机构的经营资质、营业范围、涉诉情况等信息，还可通过证券业协会网站查询该金融机构的信息和资质。

 

不要轻易加入各种理财投资群，更不要轻易相信网友或群友提供的“内幕信息”“投资建议”“荐股答疑”，也不要轻易通过他人提供的链接下载投资理财APP，看好自己钱袋子，尽可能直接掌握用于投资的理财账户以便于随时查询自己的资产变动情况。

 

一旦发现自己可能被骗了，不要犹豫，要及时报警，并留存所有往来证据信息。

 

股市有风险，投资需谨慎。希望广大市民尤其是刚刚踏入股市或者怀揣着资金正准备踏入股市的市民们，切莫以为自己是天选之子，很有可能只是他人眼中的新鲜韭菜，在判断投资风险的同时，要警惕法律风险，看好自己的钱袋子，审慎作出投资决策。

中国证监会许可

 事实上，未经中国证监会许可，任何机构和个人均不得从事各种形式证券、期货投资咨询业务。

而荐股群里的“大师”虽自称“首席分析师”，很多却没有相关从业资格，有的只是懂点股市的门外汉。

股市交流群的合法性和法律风险

 

股市交流群的合法性和法律风险

股市交流群的合法性和法律风险主要取决于群内的活动内容和目的。

一、股市交流群的合法性

如果股市交流群仅用于成员之间分享投资经验、讨论市场行情、交流投资策略等合法活动，那么该群是合法的。这种情况下，群成员可以自由地发表观点、提问和分享信息，而无需担心法律问题。

然而，如果股市交流群被用于传播虚假信息、操纵市场、进行内幕交易等非法活动，那么该群就存在合法性问题。此外，如果群主或管理员利用群聊进行欺诈、诱导成员投资等行为，也可能触犯相关法律。

二、股市交流群的法律风险

欺诈风险：根据《中华人民共和国刑法》第二百六十六条，如果股市交流群中存在以非法占有为目的，虚构事实或隐瞒真相的方式骗取他人财物的行为，可能构成诈骗罪。群成员应警惕此类行为，避免上当受骗。法规

非法集资风险：如果股市交流群被用于非法吸收公众存款或变相吸收公众存款，可能触犯《最高人民法院关于审理非法集资刑事案件具体应用法律若干问题的解释》的相关规定。群成员应注意识别此类行为，避免参与非法集资活动。

误导性投资建议风险：虽然一般的投资建议不构成违法行为，但如果群内提供的投资建议导致成员遭受重大损失，提供建议者可能需要承担相应的法律责任。因此，群成员在接受投资建议时应谨慎判断。

综上所述，股市交流群的合法性和法律风险取决于群内的具体活动内容和目的。为了确保自身权益不受侵害，群成员应保持警惕，遵守法律法规，并避免参与任何非法活动。

 

揭秘：微信“股神”们的秘密

 揭秘：微信“股神”们的秘密

北京青年报 2018-07-16 10:06

尽管监管部门多次发文明令禁止微信荐股行为，但是现在微信报名、免费培训、免费推荐牛股、“大师”指导买卖股票的现象依旧屡禁不止。有市场投资人士道破天机：“所谓的新股民培训班，说白了就是韭菜培训班。”

北京青年报记者调查发现，微信上、网络上炒股大咖满天飞，股神老师承诺可以帮你发现牛股、带着你吃肉，这种天上掉馅饼的戏码天天上演，其实是把学员当韭菜割。

证监会提醒投资者，一些不法分子以“荐股”为名，利用微信群、QQ群、网络直播室等实时喊单，指挥投资者同时买卖股票，涉嫌操纵市场。证监会表示，目前非法荐股活动花样繁多，欺骗性强，而不法分子往往无固定经营场所，流窜作案，有的甚至藏身境外，严重损害投资者利益和证券市场正常秩序，将严厉打击。

调查

自媒体公号文末“彩蛋”引小散

近日，北京青年报记者关注了四个自称股市大咖的自媒体公号，发现这些公号每期呈现内容格局都差不多。先是对时下经济形势、股市情况、重要板块点评一番，然后在文章末尾放出“彩蛋”——免费课程、免费荐股，看似粉丝福利，其实相当于钓鱼鱼饵，目的就是吸引散户上钩。

这些媒体公众号里，往往有以下几种套路。

第一种套路，公号文章最后一定会推荐一位圈中老友。这位老友的人设必定是投资界多年的“老司机”，非常善于捕捉市场热点及强势翻番牛股，善于跟庄操作。在公号中这样介绍道：“这两天他捕捉到了一只机构正逆势抢筹的错杀好股，一波主升浪预计有40%的收益，机会就在眼前，添加下方二维码获得错杀好股”。部分普通投资者看后，真的会感觉自己是遇到了大神。

第二种套路，有的公号在文末说：“本期我们精选了两只次新超跌+5G概念股分享给好友”，同时附有一个二维码，并配有说明：“投资者长按识别下方二维码，添加微信，免费领取三只短线牛股”。如果点击进入领取了，就算是进入了他们布下的圈套。

第三种套路，要求读者在某券商开户，开户后立享大资金的佣金优惠，并表示“估算一下，10万资金正常交易，一年能节省几千元手续费，相当于每年可以换一部苹果手机。”

第四种套路，那就是卖课程。比如，短线实战课程，4500元，8节课，购买后可添加助理微信，老师会建立小圈子进行线上答疑。

第五种套路，就是股市“牛人”们为显示自己的高大上，有的会给自己公号起一个与外国财经知名人士类似的名字，且每文必配外国明星头像。

体验

直播间里大神老师荐股

据观察，在所有套路中，最隐蔽、手段也最高明的是炒股免费培训班。课堂上老师和助理一起做局，让新手成为他们手中的韭菜。

上周，一位所谓的财经大咖在公号里向读者推荐一位炒股牛人的免费课程，“为期两个月，两个月后就恢复价格16800元，机会实在难得”，并配发报名链接地址。点击进入链接，就是授课郝老师的微信号。老师很快把他助理的名片发过来说，“跟我助理报名登记”，于是又加了助理微信。

据这位李助理介绍，老师是做了20年左右的投资者教育工作，擅长筹码理论，“老师有个直播间，近期有很多朋友想学习，就筹备了一个公益授课，同时也是为了让更多人认识自己。”李助理说。随后，她把听课地址链接、账号、登录密码发送过来。投资培训达人郝老师还亲自微信提醒“晚上7：30开课，一定早一点到啊。”

周三晚上19点30分，北青报记者登录直播间，里面展示着一张K线图，画外音是一位南方口音的男老师正在讲课：“很多新股民没有地方学习股票，赚钱完全是靠运气，没有经过专业学习，短暂的盈利意味着被套牢得更狠，对此老师内心非常痛苦，所以大家一定要珍惜这次学习机会，恶补股票知识。”

在一个小时课程中，这位老师传递的核心思想就是：“跟着我，我可以帮你在3000多只股票中发现牛股，而且股价能翻倍，10块涨到20块！”他简单分析了汽车、科技、通讯、5G类的股票各一只，“但是都不宜入手”。此时立即有学员呼吁：“老师推荐一只牛股吧！”对此老师淡定回答：“明天上午大家来我直播间，我会实时分析，为大家推荐一只牛股。”课后，老师还格外关照新学员，微信赠送了两份大礼——炒股文档《T+0解套秘密》《入市必备宝典》。老师助理还特意私信叮嘱：“明早9点20开课，记得早点到啊。”

周四早上开盘前10分钟，直播间里老师推出了一只所谓的牛股，属于通信类股票，“8.5元左右可以买入，8.6元也行。”老师说。记者查询发现，这只股票属于小微股，流通值只有29亿元。这意味着，稍有资金入场，就能影响该股股价走势。

12点17分，中午休盘的时候，助理发来私信说：“老师推荐的股票，你买了几成仓位啊？”顺便还盘问北青报记者：“哪里人啊？做什么工作的？”15点17分，该助理又私信发来一张股票截图，“老师推荐的股票涨停了，你看到了吗？”“明天老师还会在直播间里分享卖点的，你可以好好关注。”晚上，老师私信发来“密件”：“这是今天的密件，送给新朋友的礼物，密件里面有明天我个人看好的几只股。”

周五早上一开盘，该股就有人以8.89元的价位抛盘，7499手，666.6万多元，就把这只股票砸下了神坛。之后该股票反复震荡，成交量非常小，平均只有几百手，最后下跌到8.7元收盘。晚上老师又发来私信：“手中如有重仓的票，可以将代码和成本发我助理登记，我有空可以帮你看看。”

追访

股市“黑嘴”违法从事投资咨询业务

对于上述情况，有市场投资人士道破天机。所谓的新股民培训班，说白了就是韭菜培训班。其套路就是，老师在推荐某只股票之前，就已经低位建仓，然后把买点消息放给小散。小散们信以为真跟进之后，老师趁机出货收割韭菜。一般来讲，老师推荐的所谓牛股都是小微股，盘子很小，少量资金就能轻松将其股价推高，甚至涨停，而用几万块钱就又能将股价砸下来。因此老师推荐的所谓牛股涨停板都是假象而已。这种股票，小散被误导入坑之后，很难解套脱身。

以前是电话荐股、QQ拉人、开讲座授课。如今移动互联网兴起之后，那些自称A股牛人们纷纷转场微信拉人、网络直播间里讲课，吹嘘自己“能帮你炒股发财”。对此，业内人士指出，不管传播渠道怎么变，但骗子的套路一直未变：先是吸引投资者关注，免费推荐一些好股票，让投资者尝到甜头后，即邀请他们加入会员，向投资者收取高额会员费。或者利用投资者资金为其操控的股票接盘，诱惑力大，欺骗性强。

据调查，股市“黑嘴”最新特点是，主体身份复杂、行为方式隐蔽、违法构成多元竞合等方面。

从行为涉及的主体看，既有持牌咨询机构和分析师，也有网络工作室、大V、博主等并未取得业务许可的机构和人员，还有从事客户招揽、非法营销、信息散布的辅助人员。

从信息传播的形式看，互联网、自媒体成为虚假信息散布传播的主要载体，既有通过微博、股吧、博客、视频直播等公开平台进行的“一对多”客户招揽，也有通过微信、QQ私聊、建群等推送信息“点对点”诱导投资者。

从涉嫌违法行为的类型看，有的涉嫌编造、传播证券期货虚假信息，有的涉嫌蛊惑交易，有的涉嫌“抢帽子”交易，有的通过组织团队诱骗投资者入群入会涉嫌非法经营咨询业务。

回应

证监会称将严打非法荐股活动

中国证监会本周发布公告指出，近期不法分子利用微信、微博、网络直播室、论坛、股吧、QQ等互联网工具或平台进行“非法荐股”活动有所抬头。这类非法活动的特点如下。

一是不法分子通过微信（公众号、朋友圈、添加好友）、微博、论坛、股吧、QQ等，以“大数据诊股”“推荐黑马”“专家一对一指导”“无收益不收费”等夸张性宣传术语，或者鼓吹过往炒股“业绩”，招揽会员或者客户。

二是投资者加入微信群、QQ群、网络直播室后，有自称“老师”“专家”“股神”“老法师”的人，以传授炒股经验、培训炒股技巧为名，实际上向投资者非法荐股，以获得“打赏费”“培训费”或者收取收益分成等方式牟利，也有的不法分子先免费推荐股票，然后借机邀请投资者加入“内部VIP群”或“VIP直播室”，宣称有更专业的“老师”提供更高端的服务，并以各种名目收取高额服务费。

三是有一些不法分子以“荐股”为名，实际从事其他违法犯罪活动，如利用微信群、QQ群、网络直播室等实时喊单，指挥投资者同时买卖股票，涉嫌操纵市场，或者诱骗投资者参与现货交易（贵金属、艺术品、邮币卡等）或境外期货交易，牟取非法利益。

证监会指出，这些非法活动花样繁多，欺骗性强，而不法分子往往无固定经营场所，流窜作案，有的甚至藏身境外，严重损害投资者利益和证券市场正常秩序。证监会提醒广大投资者，根据《证券法》《期货交易管理条例》《证券、期货投资咨询管理暂行办法》等法律法规规定，从事证券、期货投资咨询业务，必须依法取得中国证监会的业务许可；未经中国证监会许可，任何单位和个人均不得从事证券、期货投资咨询业务。请投资者选择合法证券期货经营机构，获取相关投资咨询服务，对各类“荐股”活动保持高度警惕，远离“非法荐股”活动，以免遭受财产损失。合法证券期货经营机构名单可在中国证监会、中国证券业协会、中国期货业协会网站查询。

证监会同时提醒各互联网运营机构，根据《网络安全法》有关规定，网络运营者应当依法采取技术措施和其他必要措施，防范网络违法犯罪活动；加强对其用户发布的信息的管理，发现法律、行政法规禁止发布或传输的信息的，应当立即停止传输该信息，采取消除等处置措施，防止信息扩散。互联网运营机构要增强法律意识和风险意识，加强前端审查和实时监控，及时清理封堵“非法荐股”信息，从事“非法荐股”活动或为“非法荐股”活动提供便利将承担相应的法律责任。

直播间“喊麦”荐股不可信

 

直播间“喊麦”荐股不可信

2024-11-20 07:07 来源：证券日报

　　朱宝琛

　　近期，一些直播平台上的股票直播间活跃起来。在直播过程中，主播会从多个角度对当天的股市进行分析，回答评论区的问题，有的甚至还会推荐股票。往往主播一声令下，直播间的追随者们就立即买入同一只股票，场面甚至可以用“火爆”来形容。

　　笔者认为，这种看似高效的行为，实则暗藏风险，是不可取的。对此，笔者有三点思考。

　　第一，在直播间里，主播打着“免费讲解”的旗号，提供实时市场预测及投资建议，那么，这些主播是否都是持证上岗？

　　根据相关规定，任何个人或机构未经许可不得从事证券投资咨询业务，更不能以推荐股票的形式进行非法获利。也就是说，持证上岗，是从事投顾业务最基本的条件。然而，通过查看一些主播的账号可以发现，有些并没有任何相关资格认证，直播页面也没有相关的证券投顾执业编号。

　　未取得资质就从事相关活动，是会受到处罚的。日前，福建福州市鼓楼区人民法院通报了一起无资质荐股牟利的典型案例：被告人吴某某因犯非法经营罪，被判处有期徒刑2年4个月，并处罚金1300万元。

　　在此也提醒那些在直播间“喊麦”的主播，无证从事投顾活动，对这种行为监管部门一定会严监管、出重拳，予以全链条打击。

　　第二，这些主播推荐的股票真的能暴涨吗？跟着他们炒股一定能获利？

　　其实，仔细观察不难发现，通过直播平台推荐股票，与之前通过QQ群、微信群等荐股如出一辙，其最终目的只有一个：赚钱。

　　这里面有两种形式：其一，吸引观众关注并引导他们购买课程或软件，形成“平台吸粉—引流拉群—收费荐股”的产业链，从中谋取利益；其二，主播可能已经提前买入所推荐的股票，利用投资者跟风炒作的“羊群效应”趁机拉高股价卖出，这与此前的“股市黑嘴”类似。

　　投资者如果轻易相信主播甚至跟风买入，最终受损失的还将是自己。对投资者而言，最有效的规避风险的手段，就是树立正确的投资理念，不要轻易相信会有“天上掉馅饼”的好事。

　　第三，作为投顾“正规军”的持牌机构，应如何用好新媒体的传播速度及力度，将一些缺乏甄别能力的中小投资者转变为真正理解且信任买方投顾的长期投资者？

　　作为持牌机构，最基本的合规要求是在直播中不能提及个股。因此，这比那些直接喊股票代码或个股名称的主播要晦涩很多，往往也难以获得投资者“芳心”。面对这一情况，投顾们要证明自身实力，获得投资者信任，创新服务方式，用不同的方式介绍复杂多元的投资组合、产品，为客户提供更全面的资产配置和解决方案，稳步提升资产配置能力。

　　总之，面对直播间“喊麦”式的荐股行为，投资者需要冷静、理性面对，不要被主播的热情所迷惑，更不要轻信所谓的“大师”荐股、跟风买入。

 

Chitra Venkatramani | Google | Coinbase

 About

I am an accomplished technologist and organizational leader with 20+ years of experience in driving research, product development and business outcomes
* Built and led global, layered cross-functional organizations, successfully delivering products and business outcomes for Google Ads and broader Google, working across multiple stakeholders
* Delivered infrastructure to accelerate high-quality development of Google Ads products with 4x improvement in release velocity, 50% reduction in developer friction and ~100% automation in testing/quality.
* Own the Google Integration Testing GA product as an automated qualification platform for production systems
* Former Distinguished Engineer at IBM
* Led research and platform development to speed up delivery of industry-vertical AI/ML IBM Watson conversational applications
* Led research, development and delivery of IBM Streams Runtime GA product through multiple releases. IBM Streams is a premier streaming analytics engine, developed as a joint project between the U.S. government and IBM Research.
* Delivered multiple first-of-a-kind outcomes with enterprise customers in Finance, Defense, Insurance, Healthcare
* 30+ publications and patents in media streaming, distributed computing

I am a seasoned technologist and organizational leader, excited about working with talented teams at the intersection of research/innovation and product-development in the context of customer outcomes. I have a passion for solving ambiguous, real-world problems and inspiring teams to join me in the journey. I have been fortunate to lead strong teams of engineers and managers, painting a vision and driving execution. At Google and at IBM I have blended a bottom-up culture with a top-down vision successfully, leading to the development of innovative products and solutions.I am an accomplished technologist and organizational leader with 20+ years of experience in driving research, product development and business outcomes * Built and led global, layered cross-functional organizations, successfully delivering products and business outcomes for Google Ads and broader Google, working across multiple stakeholders * Delivered infrastructure to accelerate high-quality development of Google Ads products with 4x improvement in release velocity, 50% reduction in developer friction and ~100% automation in testing/quality. * Own the Google Integration Testing GA product as an automated qualification platform for production systems * Former Distinguished Engineer at IBM * Led research and platform development to speed up delivery of industry-vertical AI/ML IBM Watson conversational applications * Led research, development and delivery of IBM Streams Runtime GA product through multiple releases. IBM Streams is a premier streaming analytics engine, developed as a joint project between the U.S. government and IBM Research. * Delivered multiple first-of-a-kind outcomes with enterprise customers in Finance, Defense, Insurance, Healthcare * 30+ publications and patents in media streaming, distributed computing I am a seasoned technologist and organizational leader, excited about working with talented teams at the intersection of research/innovation and product-development in the context of customer outcomes. I have a passion for solving ambiguous, real-world problems and inspiring teams to join me in the journey. I have been fortunate to lead strong teams of engineers and managers, painting a vision and driving execution. At Google and at IBM I have blended a bottom-up culture with a top-down vision successfully, leading to the development of innovative products and solutions.

• Top skillsTop skills

  Organizational Development • Technical Leadership • Senior Stakeholder Management • Artificial Intelligence (AI) Machine Learning (ML)

 

Sabre (NASDAQ:SABR) Earns Underperform Rating from Sanford C. Bernstein

Written by MarketBeat

November 19, 2024

Sanford C. Bernstein reiterated their underperform rating on shares of Sabre (NASDAQ:SABR - Free Report) in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $3.00 price target on the information technology services provider's stock.

Separately, StockNews.com downgraded Sabre from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Sabre presently has an average rating of "Hold" and an average price target of $3.50.

Read Our Latest Report on SABR

Sabre Stock Performance

Shares of SABR stock traded down $0.14 during mid-day trading on Tuesday, hitting $3.65. The company's stock had a trading volume of 4,499,413 shares, compared to its average volume of 4,382,455. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -4.24 and a beta of 1.74. The business has a 50-day moving average price of $3.47 and a 200 day moving average price of $3.14. Sabre has a 52-week low of $1.81 and a 52-week high of $4.68.

Sabre (NASDAQ:SABR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The information technology services provider reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The firm had revenue of $764.71 million for the quarter, compared to the consensus estimate of $774.53 million. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. Equities research analysts predict that Sabre will post -0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Earnest Partners LLC boosted its stake in shares of Sabre by 62.6% during the second quarter. Earnest Partners LLC now owns 33,353,912 shares of the information technology services provider's stock valued at $89,055,000 after purchasing an additional 12,838,230 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Sabre in the 3rd quarter worth $36,185,000. Tidal Investments LLC purchased a new stake in shares of Sabre during the 1st quarter worth $3,463,000. Beaconlight Capital LLC boosted its position in Sabre by 32.2% during the third quarter. Beaconlight Capital LLC now owns 3,954,980 shares of the information technology services provider's stock valued at $14,515,000 after purchasing an additional 962,665 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Sabre by 1.6% in the first quarter. Vanguard Group Inc. now owns 42,322,231 shares of the information technology services provider's stock valued at $102,420,000 after purchasing an additional 678,588 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

Sabre Company Profile

 (Get Free Report)

Sabre Corporation, together with its subsidiaries, operates as software and technology company for travel industry in the United States, Europe, Asia-Pacific, and internationally. It operates through two segments: Travel Solutions and Hospitality Solutions. The Travel Solutions segment operates a business-to-business travel marketplace that offers travel content, such as inventory, prices, and availability from a range of travel suppliers, including airlines, hotels, car rental brands, rail carriers, cruise lines, and tour operators with a network of travel buyers comprising online and offline travel agencies, travel management companies, and corporate travel departments.

Bernstein | SABR rating update | Underweight

Bernstein reduces Sabre stock outlook, citing cyclical risks and strained financial position

EditorAhmed Abdulazez Abdulkadir

Analyst Ratings

Published 2024-11-19, 04:36 a/m

 On Tuesday, Sabre (NASDAQ:SABR) Corporation (NASDAQ:SABR) saw its stock rating downgraded by Bernstein from Market Perform to Underperform, with a new price target set at $3.00.

The firm cited several reasons for the negative outlook, including the company's heavy reliance on the slowing Global Distribution System (GDS) business, which represents approximately 70% of its revenues. Sabre's geographic focus on North America, a region experiencing rapid technological changes, is also expected to pose challenges for the company's volume growth and unit economics.

Sabre's Air IT business, which is largely dependent on a small number of major customers, with American airlines accounting for about 35% of its volumes, has faced significant losses in recent years. The losses include contracts with Etihad, Hawaiian, ITA, and Vietnam Airlines. Compared to its competitor Amadeus (BME:AMA), Sabre invests roughly one-third in product development, which is anticipated to make it difficult for the company to close the product gap.

The firm also highlighted concerns regarding Sabre's financial health, noting that the company's balance sheet is under strain. The interest coverage ratio was less than 1x in 2023, and it is projected to be close to 1x in 2024, including payment-in-kind (PIK) interest.

Despite efforts to improve earnings before interest, taxes, depreciation, and amortization (EBITDA) through cost restructuring and reducing headcount, Bernstein remains cautious. They suggest that the next industry downturn could occur before Sabre successfully addresses its significant net debt, which exceeds $4 billion.

In other recent news, Sabre Corporation reported a positive Q3 2024 performance and an optimistic outlook for the future. The company's Q3 earnings call revealed a 3% year-over-year revenue growth, reaching $765 million. Distribution revenue and Hospitality Solutions revenue saw increases of 5% and 7% respectively. The company's Adjusted EBITDA for the same quarter stood at $131 million, marking a 19% increase from the previous year.

Sabre also shared its projections for Q4 2024, expecting revenue of approximately $715 million and adjusted EBITDA of around $115 million. The company's full-year 2024 revenue is anticipated to be about $3.03 billion, with an adjusted EBITDA of $515 million. Furthermore, Sabre aims to achieve over $700 million in adjusted EBITDA and more than $200 million in free cash flow by 2025.

Despite a decline in IT Solutions revenue, the company maintains a positive outlook, focusing on strategic investments and cost management to enhance shareholder value. With consistent booking trends and an expected increase in revenue per booking in Q4, Sabre remains confident in its financial trajectory.

InvestingPro Insights

Recent InvestingPro data provides additional context to Bernstein's downgrade of Sabre Corporation (NASDAQ:SABR). The company's market capitalization stands at $1.46 billion, reflecting its current market position. Despite Sabre's challenges, it maintains impressive gross profit margins of 59.26% for the last twelve months as of Q3 2023, which aligns with one of the InvestingPro Tips highlighting the company's strong gross profit margins.

However, the financial strain mentioned by Bernstein is evident in other metrics. Sabre's P/E ratio is negative at -7.97, indicating that the company is not currently profitable, a point reinforced by another InvestingPro Tip. The company's significant debt burden, as noted in the article, is also flagged as a key concern in the InvestingPro Tips.

On a more positive note, Sabre has shown a strong return over the last three months, with a price total return of 26.76%. This recent performance suggests that despite the challenges outlined, some investors may see potential in the company's efforts to restructure and improve its financial position.

For investors seeking a more comprehensive analysis, InvestingPro offers 6 additional tips for Sabre Corporation, providing a deeper understanding of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

《腓立比书》2章3节 | 谦卑的心

 基督徒常说：「要谦卑，谦卑，再谦卑…」到底什么是谦卑？

一本书中这样提到：「跟一个『非常有能力』，但『没有谦卑』的人一起工作时，他会让你觉得—『他』是个非常了不起的人，『他』成就非凡，『他』非常重要！然而，当你和另一位『非常有能力』，且『非常谦卑』的人工作时，他会让你觉得—『你』是个非常有价值的人，『你』是个非常重要的人，『你』将来一定能成就美好事物！」

《圣经》哥林多前书1章8节提到：「我们晓得我们都有知识，但知识叫人自高自大，唯有爱心能造就人」。

《腓立比书》2章3节也说：「做任何事都不要出于争竞，也不可出于虚荣，而要以谦卑的心，各人看别人比自己强。」

为什么我们会「骄傲」？因为我们常有「很主观的想法」或「固执的偏见」。C.S. Lewis曾表示：「当别人纠正你时，你有多『生气』代表你有多骄傲。」同样的，你有多「受伤」，也代表你有多骄傲。这两者的前题，都认定自己很好、做很多、很属灵。因此当别人纠正我们时，难免心理会「受伤或生气」，甚至认为「我这么好，你凭什么说我…」

人非圣贤，难免会有「骄傲」的时候，但别让骄傲变成一种「慢性病」。愿我们每天都能自身提醒：「做一个『谦卑』的人！」

The Chaikin Money Flow (CMF) indicator | MFI | OBV

 AI Overview

Learn more…Opens in new tab

The Chaikin Money Flow (CMF) indicator is often compared to other indicators that monitor momentum and money flow, such as the Money Flow Index (MFI) and On Balance Volume (OBV): 

• Money Flow Index (MFI)

  Similar to CMF, MFI uses price and volume data to assess market sentiment. However, the calculation methods and interpretation differ. MFI is volume-weighted, while CMF compares the closing price to the high and low prices. MFI readings range from 0 to 100, while CMF readings range from -1 to 1. 
• On Balance Volume (OBV)

  A momentum indicator that uses volume to forecast price changes. OBV is based on how institutional and retail investors impact trading volume and market prices. 

CMF is a money flow oscillator that works best when combined with other tools and analysis. It's often used on daily charts, but can also be used on intraday charts. The default CMF period is 21 days, but traders can use multiples of this number.