Despegar Com (DESP) Upgraded at Zacks Investment Research
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 equities analysts also recently issued research reports about the company. R. F. Lafferty started coverage on Despegar Com in a research report on Monday. They set a “buy” rating and a $38.00 price objective on the stock. UBS Group upgraded Despegar Com from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Thursday, January 11th. Cowen reiterated a “buy” rating and set a $35.00 price objective 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 price objective (up previously from $32.00) on shares of Despegar Com in a research report on Friday, March 9th. Finally, Citigroup lifted their price objective on Despegar Com from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, March 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $35.88.
Despegar Com (NYSE:DESP) last announced its quarterly earnings data on Thursday, March 8th. The company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.06. The company had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $136.10 million. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. analysts expect that Despegar Com will post 0.79 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the business. Grandeur Peak Global Advisors LLC purchased a new stake in Despegar Com in the third quarter valued at $160,000. BlackRock Inc. purchased a new stake in Despegar Com in the fourth quarter valued at $142,000. Cubist Systematic Strategies LLC purchased a new stake in Despegar Com in the third quarter valued at $192,000. Nationwide Fund Advisors purchased a new stake in Despegar Com in the third quarter valued at $253,000. Finally, Malaga Cove Capital LLC purchased a new stake in Despegar Com in the fourth quarter valued at $274,000. Institutional investors own 74.24% of the company’s stock.
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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