Despegar Com (NYSE:DESP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
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. “
Other analysts have also recently issued research reports about the stock. R. F. Lafferty started coverage on shares of Despegar Com in a research report on Monday. They set a “buy” rating and a $38.00 target price for the company. UBS Group upgraded shares of Despegar Com from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Thursday, January 11th. Cowen reiterated a “buy” rating and set a $35.00 target price on shares of Despegar Com in a research report on Sunday, November 19th. Morgan Stanley reiterated an “equal weight” rating and set a $33.00 target price (up previously from $32.00) on shares of Despegar Com in a research report on Friday. Finally, Citigroup upped their target price on shares of Despegar Com from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $35.88.
Despegar Com (NYSE:DESP) last issued its earnings results on Thursday, March 8th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. The business had revenue of $144.00 million for the quarter, compared to the consensus estimate of $136.10 million. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. research analysts forecast that Despegar Com will post 0.79 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Despegar Com in the 4th quarter worth $142,000. Grandeur Peak Global Advisors LLC acquired a new position in Despegar Com in the 3rd quarter worth $160,000. Cubist Systematic Strategies LLC acquired a new position in Despegar Com in the 3rd quarter worth $192,000. Nationwide Fund Advisors acquired a new position in Despegar Com in the 3rd quarter worth $253,000. Finally, Malaga Cove Capital LLC acquired a new position in Despegar Com in the 4th quarter worth $274,000. Institutional investors and hedge funds own 74.24% of the company’s stock.
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About Despegar Com
Despegar.com Corp is an Argentina-based travel agency. The Company’s activities are divided into two business segments: Air, as well as Packages, Hotels and Other Travel Products. The Air division focuses on the sale of airline tickets. The Packages, Hotels and Other Travel Products division includes sales of travel packages with or without airline tickets and hotel rooms, as well as stand-alone sales of hotel rooms, including vacation rentals, car rentals, bus tickets, cruise tickets, travel insurance and destination services.
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