Despegar.com (NYSE:DESP) Hits New 1-Year High – Should You Buy?

Despegar.com, Corp. (NYSE:DESP) shares reached a new 52-week high on Friday . The company 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 topic of several research analyst reports. TD Cowen lifted their price target on Despegar.com from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $17.00 target price on shares of Despegar.com in a report on Friday, August 16th. Finally, Citigroup raised their price objective on shares of Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd.

Despegar.com Price Performance

The firm has a 50-day simple moving average of $13.42 and a two-hundred day simple moving average of $13.01.

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

Hedge Funds Weigh In On Despegar.com

Institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP lifted its position in Despegar.com by 4.8% in the first quarter. Quantbot Technologies LP now owns 31,462 shares of the company’s stock worth $376,000 after purchasing an additional 1,452 shares during the period. Amalgamated Bank acquired a new position in Despegar.com in the second quarter worth $28,000. SkyView Investment Advisors LLC grew its holdings in Despegar.com by 2.1% during the 1st quarter. SkyView Investment Advisors LLC now owns 232,579 shares of the company’s stock worth $2,782,000 after acquiring an additional 4,727 shares during the last quarter. Hood River Capital Management LLC grew its stake in shares of Despegar.com by 71.1% during the second quarter. Hood River Capital Management LLC now owns 14,461 shares of the company’s stock valued at $191,000 after purchasing an additional 6,011 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Despegar.com in the 2nd quarter valued at $87,000. 67.93% of the stock is currently owned by 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.