Cowen Lowers Despegar.com (NYSE:DESP) Price Target to $7.00

Despegar.com (NYSE:DESPGet Rating) had its price target lowered by Cowen to $7.00 in a report released on Monday, Stock Target Advisor reports.

Several other research firms have also recently issued reports on DESP. Morgan Stanley raised their price target on Despegar.com from $10.00 to $10.50 and gave the company an equal weight rating in a report on Tuesday, August 23rd. Citigroup dropped their price target on Despegar.com from $15.00 to $12.00 and set a buy rating on the stock in a research report on Friday, August 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Despegar.com currently has an average rating of Moderate Buy and an average price target of $11.50.

Despegar.com Trading Down 1.2 %

Shares of NYSE DESP opened at $5.55 on Monday. The business has a fifty day simple moving average of $6.24 and a 200 day simple moving average of $7.49. The firm has a market capitalization of $395.44 million, a price-to-earnings ratio of -4.96 and a beta of 1.89. Despegar.com has a one year low of $5.14 and a one year high of $12.70.

Despegar.com (NYSE:DESPGet Rating) last released its quarterly earnings data on Thursday, November 17th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.05). The business had revenue of $145.60 million during the quarter, compared to analysts’ expectations of $136.48 million. During the same period in the prior year, the company earned ($0.30) EPS. On average, research analysts anticipate that Despegar.com will post -0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Despegar.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC increased its holdings in Despegar.com by 32.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,983,009 shares of the company’s stock worth $22,704,000 after purchasing an additional 970,051 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Despegar.com by 120.1% in the second quarter. Point72 Asset Management L.P. now owns 1,672,482 shares of the company’s stock worth $13,547,000 after purchasing an additional 912,482 shares during the last quarter. Moerus Capital Management LLC raised its stake in shares of Despegar.com by 34.0% in the first quarter. Moerus Capital Management LLC now owns 2,187,895 shares of the company’s stock worth $26,692,000 after purchasing an additional 554,641 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Despegar.com by 17.1% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,567,310 shares of the company’s stock valued at $20,795,000 after acquiring an additional 375,471 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Despegar.com during the second quarter valued at approximately $1,815,000. 56.96% of the stock is owned by institutional investors and hedge funds.

Despegar.com Company Profile

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Despegar.com, Corp., online travel company, provides a range of travel and travel-related products through its websites and mobile applications in Latin America. The company operates in two segments, Air; and Packages, Hotels and Other Travel Products. It offers airline tickets; and travel packages, hotel rooms, car rentals, bus tickets, cruise tickets, travel insurance, destination services, and other travel-related products, which enable consumers to find, compare, plan, and purchase travel products through its marketplace.

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Analyst Recommendations for Despegar.com (NYSE:DESP)

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