Despegar.com (NYSE:DESP) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a report released on Tuesday, Zacks.com reports.
According to Zacks, "Despegar.com, Corp. provides online travel booking services. The Company's business segment consists of Air, as well as Packages, Hotels and Other Travel Products. It offers online hotels, car, flights, vacation rentals, packages, and ticket booking services. The company's destinations include Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Spain, the United States, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Dominican Republic, Uruguay and Venezuela. Despegar.com, Corp. is based in Buenos Aires, Argentina. "
A number of other equities analysts have also recently issued reports on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell restated a "neutral" rating and set a $13.00 price objective (up previously from $11.00) on shares of Despegar.com in a report on Wednesday, January 13th. Morgan Stanley boosted their target price on shares of Despegar.com from $8.00 to $13.00 and gave the company an "equal weight" rating in a research note on Monday, January 11th. Finally, Smith Barney Citigroup downgraded shares of Despegar.com from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 13th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. The company presently has a consensus rating of "Hold" and a consensus target price of $10.88.
NYSE:DESP traded up $0.06 during mid-day trading on Tuesday, hitting $11.51. 150,445 shares of the stock traded hands, compared to its average volume of 227,394. Despegar.com has a 52 week low of $4.44 and a 52 week high of $15.44. The stock has a market capitalization of $801.65 million, a price-to-earnings ratio of -6.85 and a beta of 2.54. The firm's 50 day moving average is $12.22 and its two-hundred day moving average is $9.11.
Despegar.com (NYSE:DESP) last announced its earnings results on Thursday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($0.39) by ($0.02). The business had revenue of $11.74 million during the quarter, compared to analyst estimates of $10.40 million. Research analysts predict that Despegar.com will post -1.2 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of DESP. California Public Employees Retirement System raised its holdings in shares of Despegar.com by 2.3% in the third quarter. California Public Employees Retirement System now owns 135,134 shares of the company's stock worth $859,000 after buying an additional 3,100 shares during the last quarter. Paloma Partners Management Co increased its holdings in shares of Despegar.com by 46.7% in the third quarter. Paloma Partners Management Co now owns 18,514 shares of the company's stock valued at $118,000 after purchasing an additional 5,894 shares during the period. Cambiar Investors LLC raised its stake in shares of Despegar.com by 5.1% in the third quarter. Cambiar Investors LLC now owns 128,349 shares of the company's stock worth $816,000 after purchasing an additional 6,255 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Despegar.com during the third quarter worth about $47,000. Finally, Moerus Capital Management LLC boosted its position in Despegar.com by 4.9% in the third quarter. Moerus Capital Management LLC now owns 196,296 shares of the company's stock valued at $1,248,000 after buying an additional 9,132 shares during the last quarter. 51.07% of the stock is owned by hedge funds and other institutional investors.
Despegar.com, Corp., online travel company, provides a range of travel and travel-related products through its websites and mobile applications in Latin America. The company operates through two segments, Air; and Packages, Hotels and Other Travel Products. It offers airline tickets, packages, hotels, and other travel-related products, which enable consumers to find, compare, plan, and purchase travel products through its marketplace under the Despegar and Decolar brands.
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