Zacks Investment Research upgraded shares of Despegar.com (NYSE:DESP) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.
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. “
NYSE:DESP traded up $0.13 on Tuesday, reaching $13.97. 1,468 shares of the stock traded hands, compared to its average volume of 239,198. The stock has a market capitalization of $962.04 million, a price-to-earnings ratio of 51.74 and a beta of 1.34. The firm has a 50 day moving average of $13.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.78 and a quick ratio of 1.78. Despegar.com has a 1-year low of $11.11 and a 1-year high of $22.18.
Despegar.com (NYSE:DESP) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $128.90 million. Despegar.com had a return on equity of 1.84% and a net margin of 0.91%. The business’s quarterly revenue was up 797.2% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. On average, sell-side analysts predict that Despegar.com will post -0.24 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Marshall Wace North America L.P. acquired a new stake in shares of Despegar.com during the 1st quarter worth approximately $112,000. Bank of America Corp DE grew its position in shares of Despegar.com by 52.6% during the 4th quarter. Bank of America Corp DE now owns 9,351 shares of the company’s stock worth $116,000 after buying an additional 3,224 shares during the period. Commonwealth Bank of Australia acquired a new stake in shares of Despegar.com during the 1st quarter worth approximately $143,000. PNC Financial Services Group Inc. grew its position in shares of Despegar.com by 105.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,468 shares of the company’s stock worth $154,000 after buying an additional 6,402 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Despegar.com by 226.1% during the 4th quarter. Legal & General Group Plc now owns 16,056 shares of the company’s stock worth $199,000 after buying an additional 11,133 shares during the period. 57.43% of the stock is owned by institutional investors.
Despegar.com Corp. provides online travel agency services. It offers tours and corporate packages to destinations such as Paris, Cancun, Rio de Janeiro, Rome, Barcelona, and Las Vegas, as well as vehicle rentals and hotel bookings. The company was founded by Roberto Hernán Souviron, Federico Fuchs, Martín Rastellino, Ernesto Cadeiras and Christian Vilate in December 1999 and is headquartered in Buenos Aires, Argentina.
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