Despegar.com (NYSE:DESP) PT Lowered to $8.00

Despegar.com (NYSE:DESPGet Rating) had its price target lowered by research analysts at Morgan Stanley from $10.50 to $8.00 in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 44.14% from the stock’s current price.

A number of other research firms also recently commented on DESP. Cowen dropped their price target on shares of Despegar.com to $7.00 in a research report on Monday. Citigroup dropped their price target on shares of 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

Despegar.com Stock Down 1.2 %

Shares of NYSE:DESP opened at $5.55 on Tuesday. The company has a market cap of $395.42 million, a PE ratio of -4.96 and a beta of 1.89. The company’s 50-day moving average price is $6.28 and its 200 day moving average price is $7.50. Despegar.com has a fifty-two week low of $5.14 and a fifty-two week high of $12.70.

Despegar.com (NYSE:DESPGet Rating) last issued its quarterly earnings data on Thursday, November 17th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the company posted ($0.30) EPS. As a group, equities analysts anticipate that Despegar.com will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Despegar.com

Hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA acquired a new position in shares of Despegar.com in the 1st quarter worth approximately $38,000. UBS Group AG grew its stake in shares of Despegar.com by 246.3% in the 2nd quarter. UBS Group AG now owns 4,671 shares of the company’s stock worth $38,000 after purchasing an additional 3,322 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Despegar.com in the 2nd quarter worth approximately $75,000. Jane Street Group LLC acquired a new position in shares of Despegar.com in the 2nd quarter worth approximately $94,000. Finally, MQS Management LLC acquired a new position in shares of Despegar.com in the 2nd quarter worth approximately $113,000. Institutional investors and hedge funds own 56.96% of the company’s stock.

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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