Citigroup Increases Despegar.com (DESP) Price Target to $37.00

Despegar.com (NYSE:DESP) had its price objective boosted by Citigroup from $36.00 to $37.00 in a research note published on Friday, March 9th. The firm currently has a neutral rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Despegar.com from a buy rating to a hold rating in a research report on Friday, January 12th. UBS upgraded shares of Despegar.com from a neutral rating to a buy rating and set a $36.00 price target for the company in a research report on Thursday, January 11th. Morgan Stanley upped their price target on shares of Despegar.com from $31.00 to $32.00 and gave the company an equal weight rating in a research report on Friday, November 17th. Finally, Cowen restated a buy rating and issued a $35.00 price target on shares of Despegar.com in a research report on Sunday, November 19th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Despegar.com currently has an average rating of Buy and a consensus target price of $36.63.

How to Become a New Pot Stock Millionaire

DESP stock traded down $0.65 during trading on Friday, reaching $30.60. 108,189 shares of the company were exchanged, compared to its average volume of 196,363. The stock has a market cap of $2,099.44 and a price-to-earnings ratio of 45.29. Despegar.com has a twelve month low of $22.73 and a twelve month high of $36.56.

Despegar.com (NYSE:DESP) last released its quarterly earnings data on Thursday, March 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.06. The company had revenue of $144.00 million for the quarter, compared to analyst estimates of $136.10 million. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. analysts predict that Despegar.com will post 0.79 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. General Atlantic LLC acquired a new stake in shares of Despegar.com during the third quarter worth $101,607,000. Ameriprise Financial Inc. acquired a new stake in shares of Despegar.com during the third quarter worth $15,403,000. Lombard Odier Asset Management Switzerland SA increased its position in shares of Despegar.com by 826.4% during the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 463,200 shares of the company’s stock worth $12,729,000 after buying an additional 413,200 shares during the period. Franklin Resources Inc. increased its position in shares of Despegar.com by 69.9% during the fourth quarter. Franklin Resources Inc. now owns 419,400 shares of the company’s stock worth $11,525,000 after buying an additional 172,600 shares during the period. Finally, Grandeur Peak Global Advisors LLC increased its position in shares of Despegar.com by 6,238.5% during the fourth quarter. Grandeur Peak Global Advisors LLC now owns 316,925 shares of the company’s stock worth $8,709,000 after buying an additional 311,925 shares during the period. Institutional investors own 74.24% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Citigroup Increases Despegar.com (DESP) Price Target to $37.00” was originally posted by Enterprise Leader and is the sole property of of Enterprise Leader. If you are accessing this story on another website, it was stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this story can be read at https://theenterpriseleader.com/2018/04/02/citigroup-boosts-despegar-com-desp-price-target-to-37-00.html.

Despegar.com Company Profile

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.

Analyst Recommendations for Despegar.com (NYSE:DESP)

Receive News & Ratings for Despegar.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Despegar.com and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply