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

Despegar.com (NYSE:DESPGet Rating) had its price target trimmed by Cowen to $7.00 in a research note issued to investors on Monday, Stock Target Advisor reports.

Other equities analysts also recently issued reports about the stock. Citigroup dropped their price objective on shares of Despegar.com from $15.00 to $12.00 and set a buy rating on the stock in a research note on Friday, August 26th. Morgan Stanley lifted their price objective on shares of Despegar.com from $10.00 to $10.50 and gave the company an equal weight rating in a report on Tuesday, August 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $11.50.

Despegar.com Stock Down 1.2 %

DESP opened at $5.55 on Monday. The firm has a 50-day simple moving average of $6.24 and a two-hundred day simple moving average of $7.49. Despegar.com has a 52 week low of $5.14 and a 52 week high of $12.70. The company has a market capitalization of $395.44 million, a PE ratio of -4.96 and a beta of 1.89.

Despegar.com (NYSE:DESPGet Rating) last announced its quarterly earnings results on Thursday, November 17th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). The company had revenue of $145.60 million for the quarter, compared to analysts’ expectations of $136.48 million. During the same period last year, the firm posted ($0.30) earnings per share. As a group, sell-side analysts expect that Despegar.com will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Despegar.com

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in Despegar.com during the 1st quarter worth $1,756,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Despegar.com by 4.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 118,119 shares of the company’s stock worth $1,441,000 after purchasing an additional 5,159 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Despegar.com in the first quarter worth approximately $584,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Despegar.com by 6.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,191,839 shares of the company’s stock worth $26,740,000 after acquiring an additional 136,637 shares during the last quarter. Finally, Banco BTG Pactual S.A. acquired a new stake in shares of Despegar.com in the first quarter worth approximately $592,000. 56.96% of the stock is owned by hedge funds and other institutional investors.

About Despegar.com

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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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