Brokerages Set Despegar.com Corp (NYSE:DESP) PT at $22.33

Despegar.com Corp (NYSE:DESP) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $19.75.

Several equities research analysts recently weighed in on the company. Morgan Stanley set a $15.00 target price on Despegar.com and gave the stock a “hold” rating in a report on Friday. UBS Group set a $19.00 target price on Despegar.com and gave the stock a “buy” rating in a report on Friday. Finally, Zacks Investment Research upgraded Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Despegar.com by 119.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,182 shares of the company’s stock worth $44,000 after buying an additional 1,733 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Despegar.com during the first quarter worth approximately $112,000. Bank of America Corp DE lifted its holdings in shares of Despegar.com by 52.6% during the fourth 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 last quarter. Commonwealth Bank of Australia acquired a new position in shares of Despegar.com during the first quarter worth approximately $143,000. Finally, CHICAGO TRUST Co NA acquired a new position in shares of Despegar.com during the second quarter worth approximately $160,000. Hedge funds and other institutional investors own 57.94% of the company’s stock.



DESP traded down $0.29 on Tuesday, hitting $11.92. The company had a trading volume of 1,158,826 shares, compared to its average volume of 430,370. The stock’s fifty day simple moving average is $13.61. Despegar.com has a 1-year low of $9.90 and a 1-year high of $21.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.78 and a current ratio of 1.78. The company has a market capitalization of $1.02 billion, a PE ratio of 44.15 and a beta of 1.33.

Despegar.com (NYSE:DESP) last posted its earnings results on Thursday, August 8th. The company reported ($0.23) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.23). Despegar.com had a negative return on equity of 5.20% and a negative net margin of 2.60%. The firm had revenue of $114.09 million during the quarter, compared to analyst estimates of $114.90 million. During the same period in the previous year, the company earned $0.02 EPS. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. Analysts expect that Despegar.com will post -0.24 earnings per share for the current fiscal year.

About Despegar.com

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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Analyst Recommendations for Despegar.com (NYSE:DESP)

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