Despegar.com (NYSE:DESP) Price Target Raised to $21.00

Despegar.com (NYSE:DESP) had its price target hoisted by Morgan Stanley from $17.00 to $21.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on DESP. TD Cowen cut shares of Despegar.com from a “buy” rating to a “sell” rating and lifted their price objective for the company from $12.00 to $14.00 in a research note on Monday, November 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $17.00 price target on shares of Despegar.com in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Despegar.com presently has an average rating of “Hold” and an average price target of $17.20.

Despegar.com Stock Up 0.9 %

DESP opened at $17.89 on Friday. Despegar.com has a twelve month low of $7.83 and a twelve month high of $19.00. The company has a 50-day simple moving average of $14.70 and a 200 day simple moving average of $13.45.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bayesian Capital Management LP bought a new stake in Despegar.com during the 1st quarter worth $132,000. Cetera Advisors LLC acquired a new position in shares of Despegar.com in the first quarter valued at approximately $423,000. SG Americas Securities LLC bought a new position in Despegar.com in the 2nd quarter valued at approximately $2,006,000. Baader Bank Aktiengesellschaft boosted its position in Despegar.com by 67.4% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 38,500 shares of the company’s stock worth $509,000 after buying an additional 15,500 shares during the period. Finally, Coronation Fund Managers Ltd. bought a new stake in Despegar.com during the 2nd quarter worth approximately $15,680,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

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.