Cowen Trims Despegar.com (NYSE:DESP) Target Price to $10.50

Despegar.com (NYSE:DESPGet Rating) had its price target reduced by stock analysts at Cowen from $12.50 to $10.50 in a report issued on Thursday, The Fly reports. Cowen’s price objective points to a potential upside of 38.89% from the company’s current price.

Despegar.com stock opened at $7.56 on Thursday. Despegar.com has a 12 month low of $6.66 and a 12 month high of $14.33. The stock’s 50 day moving average is $9.47 and its 200-day moving average is $10.41. The company has a market capitalization of $538.65 million, a price-to-earnings ratio of -5.01 and a beta of 2.07.

Despegar.com (NYSE:DESPGet Rating) last posted its earnings results on Thursday, May 19th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.31). Despegar.com had a negative net margin of 25.08% and a negative return on equity of 1,941.11%. During the same period last year, the company posted ($0.47) earnings per share. Sell-side analysts predict that Despegar.com will post -0.84 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. increased its holdings in Despegar.com by 57.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,578,306 shares of the company’s stock valued at $35,032,000 after purchasing an additional 1,298,759 shares during the period. Moerus Capital Management LLC grew its holdings in Despegar.com by 34.0% during the 1st quarter. Moerus Capital Management LLC now owns 2,187,895 shares of the company’s stock worth $26,692,000 after acquiring an additional 554,641 shares during the period. Nishkama Capital LLC grew its holdings in Despegar.com by 61.4% during the 4th quarter. Nishkama Capital LLC now owns 861,690 shares of the company’s stock worth $8,436,000 after acquiring an additional 327,781 shares during the period. Neuberger Berman Group LLC grew its holdings in Despegar.com by 11.7% during the 1st quarter. Neuberger Berman Group LLC now owns 2,769,044 shares of the company’s stock worth $33,782,000 after acquiring an additional 289,127 shares during the period. Finally, Bares Capital Management Inc. grew its holdings in Despegar.com by 14.0% during the 4th quarter. Bares Capital Management Inc. now owns 2,206,203 shares of the company’s stock worth $21,599,000 after acquiring an additional 270,799 shares during the period. Institutional investors own 55.92% of the company’s stock.

About Despegar.com (Get Rating)

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. The company offers airline tickets; travel packages, hotel rooms, car rentals, bus tickets, cruise tickets, travel insurance, destination services, and other travel-related products, which enable consumers to find, compare, plan, and purchase travel products through its marketplace.

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