Despegar Com’s (NYSE:DESP) lock-up period will end on Monday, March 19th. Despegar Com had issued 12,770,000 shares in its IPO on September 20th. The total size of the offering was $332,020,000 based on an initial share price of $26.00. After the expiration of Despegar Com’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
A number of research firms have commented on DESP. Zacks Investment Research raised Despegar Com from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Friday, December 15th. Morgan Stanley reissued an “equal weight” rating and issued a $33.00 target price (up previously from $32.00) on shares of Despegar Com in a report on Friday, March 9th. Cowen reissued a “buy” rating and issued a $35.00 target price on shares of Despegar Com in a report on Sunday, November 19th. R. F. Lafferty began coverage on Despegar Com in a report on Monday. They issued a “buy” rating and a $38.00 target price for the company. Finally, UBS Group raised Despegar Com from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a report on Thursday, January 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $36.63.
Despegar Com (NYSE DESP) opened at $32.75 on Friday. The stock has a market capitalization of $2,200.00 and a price-to-earnings ratio of 50.38. Despegar Com has a one year low of $22.73 and a one year high of $34.70.
Despegar Com (NYSE:DESP) last released its quarterly earnings results on Thursday, March 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. The firm had revenue of $144.00 million for the quarter, compared to analyst estimates of $136.10 million. The firm’s revenue was up 29.5% on a year-over-year basis. research analysts predict that Despegar Com will post 0.79 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the company. General Atlantic LLC acquired a new position in shares of Despegar Com during the 3rd quarter worth $101,607,000. Ameriprise Financial Inc. acquired a new position in shares of Despegar Com during the 3rd quarter worth $15,403,000. Lombard Odier Asset Management Switzerland SA raised its stake in shares of Despegar Com by 826.4% during the 4th 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 last quarter. Franklin Resources Inc. raised its stake in shares of Despegar Com by 69.9% during the 4th 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 last quarter. Finally, Grandeur Peak Global Advisors LLC raised its stake in shares of Despegar Com by 6,238.5% during the 4th 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 last quarter. 74.24% of the stock is owned by institutional investors and hedge funds.
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Despegar Com Company Profile
Despegar.com Corp is an Argentina-based travel agency. The Company’s activities are divided into two business segments: Air, as well as Packages, Hotels and Other Travel Products. The Air division focuses on the sale of airline tickets. The Packages, Hotels and Other Travel Products division includes sales of travel packages with or without airline tickets and hotel rooms, as well as stand-alone sales of hotel rooms, including vacation rentals, car rentals, bus tickets, cruise tickets, travel insurance and destination services.
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