Despegar.com (NYSE:DESP) Hits New 52-Week High – Time to Buy?

Despegar.com, Corp. (NYSE:DESP)’s share 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 changing hands. The stock had previously closed at $14.86.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DESP shares. TD Cowen raised their price target on shares of Despegar.com from $9.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Citigroup boosted their price target on Despegar.com from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $17.00 price objective on shares of Despegar.com in a report on Friday, August 16th.

Despegar.com Stock Up 16.9 %

The company’s fifty day moving average price is $13.59 and its two-hundred day moving average price is $13.06.

Despegar.com (NYSE:DESP) last released its earnings results on Thursday, August 15th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The business had revenue of $185.05 million during the quarter, compared to the consensus estimate of $184.35 million. Despegar.com had a net margin of 3.30% and a negative return on equity of 62.18%. Sell-side analysts expect that Despegar.com, Corp. will post 0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Despegar.com

Institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC bought a new stake in Despegar.com during the second quarter worth about $1,102,000. Quadrature Capital Ltd increased its stake in Despegar.com by 108.5% in the first quarter. Quadrature Capital Ltd now owns 185,891 shares of the company’s stock valued at $2,220,000 after acquiring an additional 96,739 shares during the last quarter. Tidal Investments LLC acquired a new position in Despegar.com during the first quarter valued at approximately $4,534,000. Acadian Asset Management LLC bought a new stake in Despegar.com during the first quarter worth $3,138,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Despegar.com in the 2nd quarter valued at $2,006,000. Institutional investors and hedge funds 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.