Despegar.com (NYSE:DESP) Price target cut to $10.50 by Cowen analysts

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Despegar.com (NYSE:DESP – Get a Rating) had its target price lowered by stock analysts Cowen from $12.50 to $10.50 in a research report released Thursday to clients and investors, Stock Target Advisor reports. Cowen’s price target suggests a potential upside of 38.89% from the stock’s previous close.

Separately, Cowen cut its target price on Despegar.com shares from $12.50 to $10.50 in a research note on Thursday.

NYSE:DESP opened at $7.56 on Thursday. The company has a 50-day moving average of $9.47 and a two-hundred-day moving average of $10.41. The stock has a market capitalization of $538.65 million, a P/E ratio of -5.01 and a beta of 2.07. Despegar.com has a 1 year minimum of $6.66 and a 1 year maximum of $14.33.

Despegar.com (NYSE:DESP – Get Rating) last released quarterly earnings data on Thursday, May 19. The company reported ($0.45) earnings per share for the quarter, missing analyst consensus estimates of ($0.14) by ($0.31). Despegar.com had a negative net margin of 25.08% and a negative return on equity of 1,941.11%. In the same quarter of the previous year, the company made ($0.47) earnings per share. On average, analysts predict that Despegar.com will post -0.84 earnings per share for the current year.

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Institutional investors have recently been buying and selling shares of the company. BNP Paribas Arbitrage SA bought a new position in shares of Despegar.com in the first quarter valued at around $38,000. Exchange Traded Concepts LLC increased its holdings of Despegar.com stock by 94.7% in the first quarter. Exchange Traded Concepts LLC now owns 3,828 shares of the company valued at $47,000 after acquiring an additional 1,862 shares last quarter. TimesSquare Capital Management LLC purchased a new stake in Despegar.com during the fourth quarter worth approximately $109,000. Graham Capital Management LP purchased a new stake in Despegar.com during the first quarter worth approximately $184,000. Finally, Wealthsource Partners LLC purchased a new stake in Despegar.com during the third quarter worth approximately $188,000. Institutional investors and hedge funds hold 55.92% of the company’s shares.

Company Profile Despegar.com (Get a rating)

Despegar.com, Corp., an online travel agency, offers a range of travel and travel-related products through its websites and mobile applications in Latin America. The Company operates through two segments, Air; and packages, hotels and other travel products. The company offers airline tickets; travel packages, hotel accommodations, car rentals, bus tickets, cruise tickets, travel insurance, destination services and other travel-related products, which enable consumers to find, compare, plan and purchase journey to its marketplace.

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