Despegar.com (NYSE:DESP) Hits New 12-Month High – What’s Next?

Despegar.com, Corp. (NYSE:DESP)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $16.74 and last traded at $16.74, with a volume of 132446 shares. The stock had previously closed at $14.86.

Wall Street Analysts Forecast Growth

DESP has been the subject of several research reports. Citigroup increased their target price on Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of Despegar.com in a research note on Friday, August 16th. Finally, TD Cowen lifted their target price on shares of Despegar.com from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th.

Despegar.com Stock Performance

The stock’s 50 day simple moving average is $13.59 and its 200 day simple moving average is $13.06.

Despegar.com (NYSE:DESP) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The firm had revenue of $185.05 million during the quarter, compared to analyst estimates of $184.35 million. Despegar.com had a negative return on equity of 62.18% and a net margin of 3.30%. On average, equities research analysts forecast that Despegar.com, Corp. will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Despegar.com

A number of large investors have recently bought and sold shares of DESP. Hsbc Holdings PLC bought a new position in Despegar.com during the second quarter worth about $1,102,000. Quadrature Capital Ltd lifted its stake in shares of Despegar.com by 108.5% during the 1st quarter. Quadrature Capital Ltd now owns 185,891 shares of the company’s stock valued at $2,220,000 after buying an additional 96,739 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Despegar.com during the 1st quarter valued at approximately $4,534,000. Acadian Asset Management LLC bought a new position in Despegar.com in the 1st quarter worth approximately $3,138,000. Finally, SG Americas Securities LLC purchased a new position in Despegar.com in the 2nd quarter valued at approximately $2,006,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

Despegar.com Company Profile

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.