Despegar.com (NYSE:DESP) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Despegar.com (NYSE:DESP - Get Free Report) had its price target lifted by Morgan Stanley from $17.00 to $21.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 17.38% from the stock's previous close.

A number of other research firms also recently weighed in on DESP. TD Cowen downgraded shares of Despegar.com from a "buy" rating to a "sell" rating and boosted their target price for the stock from $12.00 to $14.00 in a report on Monday, November 25th. Cantor Fitzgerald restated an "overweight" rating and set a $17.00 price objective on shares of Despegar.com in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Despegar.com presently has an average rating of "Hold" and an average target price of $17.20.

Despegar.com Trading Up 0.9 %

Shares of DESP stock traded up $0.16 during trading hours on Friday, hitting $17.89. The stock had a trading volume of 631,776 shares, compared to its average volume of 936,903. Despegar.com has a one year low of $7.83 and a one year high of $19.00. The stock's 50-day moving average price is $14.70 and its two-hundred day moving average price is $13.44.

Institutional Trading of Despegar.com

Several hedge funds have recently modified their holdings of the company. Quarry LP lifted its holdings in shares of Despegar.com by 107.1% during the 3rd quarter. Quarry LP now owns 2,769 shares of the company's stock valued at $34,000 after purchasing an additional 1,432 shares during the last quarter. Amalgamated Bank acquired a new position in Despegar.com during the 2nd quarter valued at about $28,000. O Brien Greene & Co. Inc raised its stake in Despegar.com by 4.1% in the third quarter. O Brien Greene & Co. Inc now owns 101,000 shares of the company's stock valued at $1,252,000 after buying an additional 4,000 shares during the last quarter. SkyView Investment Advisors LLC boosted its holdings in Despegar.com by 1.7% in the third quarter. SkyView Investment Advisors LLC now owns 247,453 shares of the company's stock worth $3,068,000 after acquiring an additional 4,118 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Despegar.com during the third quarter worth about $56,000. 67.93% of the stock is owned by hedge funds and other institutional investors.

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.