Despegar.com (DESP) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Despegar.com (NYSE:DESP) from a hold rating to a buy rating in a research report report published on Friday morning. The firm currently has $30.00 price objective on the stock.

According to Zacks, “Despegar.com, Corp. provides online travel booking services. The Company’s business segment consists of Air, as well as Packages, Hotels and Other Travel Products. It offers online hotels, car, flights, vacation rentals, packages, and ticket booking services. The company’s destinations include Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Spain, the United States, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Dominican Republic, Uruguay and Venezuela. Despegar.com, Corp. is based in Buenos Aires, Argentina. “

Other equities research analysts have also recently issued reports about the company. Cowen restated a buy rating and set a $35.00 price objective on shares of Despegar.com in a research note on Sunday, November 19th. Citigroup began coverage on Despegar.com in a research note on Tuesday, October 17th. They set a neutral rating and a $34.00 price objective for the company. Morgan Stanley began coverage on Despegar.com in a research note on Monday, October 16th. They set an equal weight rating and a $31.00 price objective for the company. UBS began coverage on Despegar.com in a research note on Monday, October 16th. They set a neutral rating and a $36.00 price objective for the company. Finally, Guggenheim began coverage on Despegar.com in a research note on Thursday, September 28th. They set a buy rating and a $38.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $35.00.

Shares of Despegar.com (NYSE:DESP) opened at $26.10 on Friday. Despegar.com has a 12 month low of $22.73 and a 12 month high of $34.70.

A number of institutional investors have recently added to or reduced their stakes in DESP. General Atlantic LLC purchased a new stake in Despegar.com in the third quarter valued at about $101,607,000. Ameriprise Financial Inc. purchased a new stake in Despegar.com in the third quarter valued at about $15,403,000. Carmignac Gestion purchased a new stake in Despegar.com in the third quarter valued at about $8,000,000. Point72 Asset Management L.P. purchased a new stake in Despegar.com in the third quarter valued at about $6,560,000. Finally, Bienville Capital Management LLC purchased a new stake in Despegar.com in the third quarter valued at about $4,651,000. Institutional investors own 72.64% of the company’s stock.

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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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