Despegar.com (DESP) Sets New 12-Month Low Following Weak Earnings
Despegar.com Corp (NYSE:DESP)’s share price reached a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $18.80 and last traded at $19.75, with a volume of 24321 shares changing hands. The stock had previously closed at $19.12.
The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $128.30 million for the quarter, compared to the consensus estimate of $133.55 million. During the same period in the prior year, the firm posted $0.06 earnings per share. Despegar.com’s revenue was up 4.0% compared to the same quarter last year.
Several equities analysts have recently commented on the stock. UBS Group cut shares of Despegar.com from a “market perform” rating to an “underperform” rating in a research report on Friday. Citigroup reduced their price target on shares of Despegar.com from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday. Morgan Stanley reduced their price target on shares of Despegar.com from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday. Cowen reaffirmed a “buy” rating and set a $20.00 price target on shares of Despegar.com in a research report on Friday. Finally, KeyCorp set a $27.00 price target on shares of Despegar.com and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $30.25.
The company has a market capitalization of $1.30 billion and a price-to-earnings ratio of 24.68.
About Despegar.com (NYSE:DESP)
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.
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