KeyCorp Cuts Despegar.com (DESP) Price Target to $30.00

Saturday, June 30 2018

KeyCorp Cuts Despegar.com (DESP) Price Target to $30.00

Posted by Susan Goodwin on Jun 30th, 2018 // No Comments
Despegar.com (NYSE:DESP) had its price objective trimmed by KeyCorp from $40.00 to $30.00 in a report issued on Tuesday. The firm currently has an overweight rating on the stock. KeyCorp also issued estimates for Despegar.com’s Q2 2018 earnings at $0.05 EPS, Q3 2018 earnings at $0.14 EPS, Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.66 EPS, Q1 2019 earnings at $0.22 EPS, Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.21 EPS, Q4 2019 earnings at $0.39 EPS and FY2019 earnings at $0.95 EPS.
Several other equities research analysts also recently commented on DESP. Zacks Investment Research upgraded shares of Despegar.com from a sell rating to a hold rating in a research report on Monday, June 18th. R. F. Lafferty began coverage on shares of Despegar.com in a research report on Monday, March 12th. They issued a buy rating and a $38.00 price target for the company. Citigroup upped their price target on shares of Despegar.com from $36.00 to $37.00 and gave the company a neutral rating in a research report on Friday, March 9th. Finally, Morgan Stanley restated an equal weight rating and issued a $33.00 price target (up previously from $32.00) on shares of Despegar.com in a research report on Friday, March 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $35.38. Get Despegar.com alerts:
Shares of NYSE:DESP opened at $20.97 on Tuesday. The company has a market capitalization of $1.40 billion and a P/E ratio of 30.39. Despegar.com has a 52 week low of $20.27 and a 52 week high of $36.56. Despegar.com (NYSE:DESP) last issued its quarterly earnings results on Thursday, May 10th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The firm had revenue of $148.60 million during the quarter, compared to analysts’ expectations of $143.47 million. The business’s revenue was up 18.9% on a year-over-year basis. research analysts forecast that Despegar.com will post 0.69 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Despegar.com in the 4th quarter worth approximately $142,000. Champlain Investment Partners LLC lifted its position in Despegar.com by 16.1% in the 1st quarter. Champlain Investment Partners LLC now owns 43,670 shares of the company’s stock worth $1,365,000 after buying an additional 6,070 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Despegar.com in the 1st quarter worth approximately $209,000. Jane Street Group LLC purchased a new stake in Despegar.com in the 1st quarter worth approximately $227,000. Finally, GSA Capital Partners LLP purchased a new stake in Despegar.com in the 1st quarter worth approximately $243,000. Institutional investors own 73.08% of the company’s stock.
About Despegar.com
Despegar.com, Corp., an online travel company, provides a range of travel and travel-related products through its Websites and mobile applications in Latin America. It operates through two segments, Air; and Packages, Hotels and Other Travel Products. The company offers airline tickets, packages, hotels, and other travel-related products under the Despegar and Decolar brands, which enable consumers to find, compare, plan, and purchase travel products through its marketplace. Receive News & Ratings for Despegar.com analysts' ratings for Despegar.com and related companies daily email newsletter .