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

Despegar.com (NYSE:DESP) had its price objective lifted by analysts at Morgan Stanley from $17.00 to $21.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 17.38% from the stock’s previous close.

Several other equities research analysts have also commented on DESP. Cantor Fitzgerald reissued an “overweight” rating and set a $17.00 price target on shares of Despegar.com in a research note on Friday, August 16th. TD Cowen downgraded shares of Despegar.com from a “buy” rating to a “sell” rating and lifted their price target for the stock from $12.00 to $14.00 in a report on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.20.

Despegar.com Stock Up 0.9 %

Shares of NYSE:DESP traded up $0.16 during midday trading on Friday, hitting $17.89. The stock had a trading volume of 631,607 shares, compared to its average volume of 936,903. Despegar.com has a 1 year low of $7.83 and a 1 year high of $19.00. The stock has a 50 day moving average price of $14.59 and a two-hundred day moving average price of $13.39.

Hedge Funds Weigh In On Despegar.com

A number of hedge funds have recently made changes to their positions in DESP. Bayesian Capital Management LP acquired a new position in shares of Despegar.com in the 1st quarter valued at about $132,000. Cetera Advisors LLC purchased a new stake in Despegar.com during the first quarter worth approximately $423,000. SG Americas Securities LLC purchased a new position in shares of Despegar.com in the 2nd quarter valued at $2,006,000. Baader Bank Aktiengesellschaft lifted its holdings in shares of Despegar.com by 67.4% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 38,500 shares of the company’s stock valued at $509,000 after acquiring an additional 15,500 shares in the last quarter. Finally, Coronation Fund Managers Ltd. purchased a new position in Despegar.com in the second quarter valued at about $15,680,000. 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.