Despegar.com Rallies On Raised Outlook

(RTTNews) - Shares of travel technology company Despegar.com, Corp. (DESP) are surging more than 14% Wednesday morning after raising full-year outlook.

The company now expects revenue for the full year to be in the range of $690 million - $700 million, up from the previous outlook of $670 million - $700 million.

Adjusted earnings before interest, taxes, depreciation, and amortization or EBITDA guidance has been raised to $105 million -$110 million from $90 million to $100 million.

DESP is at $9.71 currently. It has traded in the range of $4.52 - $9.98 in the last 1 year.