Despegar.com (NYSE:DESP) Releases Earnings Results, Misses Expectations By $0.01 EPS

Despegar.com (NYSE:DESP) released its earnings results on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01), MarketWatch Earnings reports. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $128.90 million. Despegar.com had a net margin of 0.91% and a return on equity of 1.84%. Despegar.com’s quarterly revenue was up 797.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS.

Shares of NYSE DESP opened at $12.00 on Friday. Despegar.com has a 1-year low of $11.11 and a 1-year high of $24.75. The stock has a market cap of $851.38 million, a PE ratio of 44.44 and a beta of 1.01. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.02.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace North America L.P. acquired a new position in shares of Despegar.com during the first quarter valued at about $112,000. Nordea Investment Management AB raised its holdings in shares of Despegar.com by 7,094.5% during the first quarter. Nordea Investment Management AB now owns 2,196,855 shares of the company’s stock valued at $32,733,000 after purchasing an additional 2,166,320 shares during the period. BlueMountain Capital Management LLC raised its holdings in shares of Despegar.com by 51.3% during the first quarter. BlueMountain Capital Management LLC now owns 6,610 shares of the company’s stock valued at $98,000 after purchasing an additional 2,240 shares during the period. Morgan Stanley increased its position in shares of Despegar.com by 21.0% during the first quarter. Morgan Stanley now owns 2,336,400 shares of the company’s stock worth $34,811,000 after acquiring an additional 404,832 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Despegar.com by 221.9% during the first quarter. Goldman Sachs Group Inc. now owns 146,178 shares of the company’s stock worth $2,178,000 after acquiring an additional 100,772 shares in the last quarter. Hedge funds and other institutional investors own 57.47% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Despegar.com from a “sell” rating to a “hold” rating in a report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $23.50.

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About Despegar.com

Despegar.com Corp. provides online travel agency services. It offers tours and corporate packages to destinations such as Paris, Cancun, Rio de Janeiro, Rome, Barcelona, and Las Vegas, as well as vehicle rentals and hotel bookings. The company was founded by Roberto Hernán Souviron, Federico Fuchs, Martín Rastellino, Ernesto Cadeiras and Christian Vilate in December 1999 and is headquartered in Buenos Aires, Argentina.

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Earnings History for Despegar.com (NYSE:DESP)

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