Despegar Com’s (NYSE:DESP) lock-up period is set to end on Monday, March 19th. Despegar Com had issued 12,770,000 shares in its initial public offering on September 20th. The total size of the offering was $332,020,000 based on an initial share price of $26.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.
DESP has been the subject of a number of research analyst reports. Zacks Investment Research raised Despegar Com from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, December 15th. UBS raised Despegar Com from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a report on Thursday, January 11th. Morgan Stanley reissued an “equal weight” rating and set a $33.00 price objective (up from $32.00) on shares of Despegar Com in a report on Friday, March 9th. Citigroup boosted their price objective on Despegar Com from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, March 9th. Finally, R. F. Lafferty began coverage on Despegar Com in a report on Monday, March 12th. They set a “buy” rating and a $38.00 price objective for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Despegar Com presently has a consensus rating of “Buy” and a consensus target price of $36.63.
Despegar Com (NYSE:DESP) opened at $31.91 on Friday. Despegar Com has a 12-month low of $22.73 and a 12-month high of $36.56.
Despegar Com (NYSE:DESP) last issued its quarterly earnings data on Thursday, March 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.06. The business had revenue of $144.00 million during the quarter, compared to analyst estimates of $136.10 million. The company’s revenue was up 29.5% on a year-over-year basis. equities research analysts expect that Despegar Com will post 0.79 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of DESP. BlackRock Inc. acquired a new position in shares of Despegar Com in the 4th quarter valued at approximately $142,000. Grandeur Peak Global Advisors LLC acquired a new position in shares of Despegar Com in the 3rd quarter valued at approximately $160,000. Cubist Systematic Strategies LLC acquired a new position in shares of Despegar Com in the 3rd quarter valued at approximately $192,000. Nationwide Fund Advisors acquired a new position in Despegar Com during the 3rd quarter worth approximately $253,000. Finally, Malaga Cove Capital LLC acquired a new position in Despegar Com during the 4th quarter worth approximately $274,000. Institutional investors and hedge funds own 74.24% of the company’s stock.
About Despegar Com
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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