Despegar.com (NYSE:DESP) Shares Gap Up to $12.50

Shares of Despegar.com, Corp. (NYSE:DESP) gapped up prior to trading on Thursday . The stock had previously closed at $12.50, but opened at $12.88. Despegar.com shares last traded at $13.09, with a volume of 78,198 shares.

Analysts Set New Price Targets

Several research firms have recently weighed in on DESP. Cantor Fitzgerald boosted their price target on Despegar.com from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Citigroup restated a “neutral” rating and issued a $14.50 price target (up previously from $11.50) on shares of Despegar.com in a research note on Monday, April 29th. Finally, B. Riley boosted their price target on Despegar.com from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, May 17th.

Despegar.com Trading Up 0.8 %

The business has a 50-day moving average of $13.58 and a 200 day moving average of $11.17.

Despegar.com (NYSE:DESP) last posted its quarterly earnings data on Thursday, May 16th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. The company had revenue of $173.66 million during the quarter, compared to analysts’ expectations of $172.23 million. Despegar.com had a negative return on equity of 44.06% and a net margin of 5.41%. As a group, equities analysts forecast that Despegar.com, Corp. will post 0.83 EPS for the current year.

Institutional Trading of Despegar.com

A number of hedge funds have recently bought and sold shares of the company. Artisan Partners Limited Partnership grew its holdings in Despegar.com by 6.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,933,450 shares of the company’s stock valued at $18,290,000 after purchasing an additional 125,288 shares during the period. Sylebra Capital LLC grew its holdings in Despegar.com by 236.2% during the first quarter. Sylebra Capital LLC now owns 1,694,451 shares of the company’s stock valued at $20,266,000 after purchasing an additional 1,190,463 shares during the period. Fourth Sail Capital LP bought a new stake in Despegar.com during the fourth quarter valued at about $12,954,000. Norges Bank bought a new stake in Despegar.com during the fourth quarter valued at about $6,622,000. Finally, Woodson Capital Management LP bought a new stake in Despegar.com during the first quarter valued at about $5,980,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

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.