Zacks Investment Research Lowers Despegar Com (DESP) to Hold

Zacks Investment Research lowered shares of Despegar Com (NYSE:DESP) from a buy rating to a hold rating in a report issued on Friday, January 12th.

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. “

DESP has been the topic of several other research reports. Morgan Stanley initiated coverage on shares of Despegar Com in a report on Monday, October 16th. They set an equal weight rating and a $31.00 target price on the stock. UBS Group initiated coverage on shares of Despegar Com in a report on Monday, October 16th. They set a neutral rating and a $36.00 target price on the stock. KeyCorp initiated coverage on shares of Despegar Com in a report on Monday, October 16th. They set an overweight rating and a $40.00 target price on the stock. Citigroup initiated coverage on shares of Despegar Com in a report on Tuesday, October 17th. They set a neutral rating and a $34.00 target price on the stock. Finally, Cowen reaffirmed a buy rating and set a $35.00 target price on shares of Despegar Com in a report on Sunday, November 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $35.00.

Despegar Com (NYSE:DESP) opened at $30.05 on Friday. Despegar Com has a twelve month low of $22.73 and a twelve month high of $34.70.

Despegar Com (NYSE:DESP) last issued its quarterly earnings results on Friday, November 17th. The company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.05. equities research analysts anticipate that Despegar Com will post 0.55 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Malaga Cove Capital LLC purchased a new stake in shares of Despegar Com in the 4th quarter worth about $274,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Despegar Com in the 3rd quarter worth about $640,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Despegar Com in the 3rd quarter worth about $192,000. Point72 Asset Management L.P. purchased a new position in Despegar Com during the 3rd quarter valued at about $6,560,000. Finally, Bienville Capital Management LLC purchased a new position in Despegar Com during the 3rd quarter valued at about $4,651,000. 72.62% of the stock is owned by hedge funds and other 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.

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Analyst Recommendations for Despegar Com (NYSE:DESP)

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