Despegar.com (NYSE:DESP) Stock Price Up 4.9% – Here’s Why

Despegar.com, Corp. (NYSE:DESP)’s share price was up 4.9% during trading on Friday . The company traded as high as $13.19 and last traded at $13.17. Approximately 102,635 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 891,313 shares. The stock had previously closed at $12.56.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $17.00 target price on shares of Despegar.com in a research report on Friday, August 16th. Citigroup increased their price objective on shares of Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, TD Cowen boosted their target price on shares of Despegar.com from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th.

Despegar.com Stock Performance

The company has a 50-day moving average of $11.72 and a 200 day moving average of $12.60.

Despegar.com (NYSE:DESP) last announced its earnings results on Thursday, August 15th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. The company had revenue of $185.05 million for the quarter, compared to analysts’ expectations of $184.35 million. Despegar.com had a net margin of 3.30% and a negative return on equity of 62.18%. As a group, analysts predict that Despegar.com, Corp. will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Despegar.com

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank purchased a new stake in Despegar.com in the 2nd quarter valued at $28,000. Tucker Asset Management LLC acquired a new stake in Despegar.com during the fourth quarter worth about $40,000. LRI Investments LLC purchased a new position in Despegar.com during the second quarter worth about $87,000. Hood River Capital Management LLC acquired a new position in Despegar.com in the 1st quarter valued at about $101,000. Finally, Adalta Capital Management LLC purchased a new stake in shares of Despegar.com in the 1st quarter valued at approximately $120,000. Institutional investors and hedge funds own 67.93% of the company’s stock.

About Despegar.com

Despegar.com, Corp., an online travel company, provides a range of travel and travel-related products to leisure and corporate travelers through its websites and mobile applications in Latin America and the United States. The company operates in two segments, Travel Business and Financial Services Business.