TD Cowen Increases Despegar.com (NYSE:DESP) Price Target to $12.00

Despegar.com (NYSE:DESP) had its price objective boosted by equities research analysts at TD Cowen from $9.00 to $12.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 12.78% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Citigroup raised their target price on Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $17.00 target price on shares of Despegar.com in a research note on Friday. Finally, B. Riley increased their price target on Despegar.com from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, May 17th.

Despegar.com Trading Down 3.3 %

DESP stock traded down $0.36 during trading hours on Tuesday, hitting $10.64. 324,330 shares of the stock traded hands, compared to its average volume of 921,546. The stock has a 50-day simple moving average of $12.41 and a 200 day simple moving average of $11.86. Despegar.com has a one year low of $6.09 and a one year high of $15.82.

Institutional Investors Weigh In On Despegar.com

Hedge funds have recently bought and sold shares of the business. Amalgamated Bank purchased a new stake in Despegar.com in the 2nd quarter worth about $28,000. Activest Wealth Management purchased a new stake in Despegar.com in the 1st quarter worth about $39,000. Tucker Asset Management LLC purchased a new stake in shares of Despegar.com during the 4th quarter worth about $40,000. Tower Research Capital LLC TRC lifted its holdings in shares of Despegar.com by 83.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,617 shares of the company’s stock valued at $44,000 after buying an additional 2,104 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Despegar.com during the 2nd quarter valued at about $87,000. 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.