Despegar Com (DESP) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Despegar Com (NYSE:DESP) from a buy rating to a hold rating in a research report report published on Friday morning.

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 research analysts also recently commented on DESP. Guggenheim started coverage on Despegar Com in a report on Thursday, September 28th. They set a buy rating and a $38.00 target price for the company. KeyCorp started coverage on Despegar Com in a report on Monday, October 16th. They set an overweight rating and a $40.00 target price for the company. UBS Group started coverage on Despegar Com in a report on Monday, October 16th. They set a neutral rating and a $36.00 target price for the company. Morgan Stanley started coverage on Despegar Com in a report on Monday, October 16th. They set an equal weight rating and a $31.00 target price for the company. Finally, Citigroup assumed coverage on Despegar Com in a report on Tuesday, October 17th. They set a neutral rating and a $34.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Despegar Com currently has an average rating of Buy and a consensus target price of $35.00.

Despegar Com (NYSE:DESP) traded up $0.73 during trading on Friday, hitting $29.31. The company had a trading volume of 97,286 shares, compared to its average volume of 142,617. Despegar Com has a 12-month low of $22.73 and a 12-month high of $34.70.

A number of large investors have recently made changes to their positions in the business. Davidson Kempner Capital Management LP acquired a new position in Despegar Com in the third quarter valued at approximately $640,000. Cubist Systematic Strategies LLC acquired a new position in Despegar Com in the third quarter valued at approximately $192,000. Point72 Asset Management L.P. acquired a new position in Despegar Com in the third quarter valued at approximately $6,560,000. Bienville Capital Management LLC acquired a new position in Despegar Com in the third quarter valued at approximately $4,651,000. Finally, Grandeur Peak Global Advisors LLC acquired a new position in Despegar Com in the third quarter valued at approximately $160,000. 72.64% of the stock is owned by institutional investors.

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Despegar Com Company Profile

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.

Analyst Recommendations for Despegar Com (NYSE:DESP)

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