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

Despegar.com, Corp. (NYSE:DESP - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as $19.43 and last traded at $19.43, with a volume of 797547 shares traded. The stock had previously closed at $14.65.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DESP. TD Cowen cut shares of Despegar.com from a "buy" rating to a "sell" rating and raised their price objective for the company from $12.00 to $14.00 in a research note on Monday, November 25th. Morgan Stanley increased their target price on shares of Despegar.com from $17.00 to $21.00 and gave the company an "overweight" rating in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.20.

Despegar.com Stock Up 32.8 %

The firm's 50-day moving average is $15.98 and its 200 day moving average is $13.67.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Sylebra Capital LLC raised its stake in Despegar.com by 72.5% in the 2nd quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company's stock valued at $38,675,000 after purchasing an additional 1,228,824 shares during the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Despegar.com by 1.3% during the third quarter. Itau Unibanco Holding S.A. now owns 2,099,156 shares of the company's stock worth $26,030,000 after buying an additional 26,443 shares in the last quarter. Woodson Capital Management LP raised its position in shares of Despegar.com by 78.4% in the third quarter. Woodson Capital Management LP now owns 1,426,952 shares of the company's stock valued at $17,694,000 after buying an additional 626,952 shares during the last quarter. MayTech Global Investments LLC raised its position in shares of Despegar.com by 23.1% in the third quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company's stock valued at $13,661,000 after buying an additional 207,023 shares during the last quarter. Finally, Coronation Fund Managers Ltd. purchased a new position in shares of Despegar.com during the second quarter valued at approximately $13,936,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

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.