Despegar.com, Corp. (NYSE:DESP - Get Free Report)'s share price fell 4% during trading on Tuesday . The stock traded as low as $16.01 and last traded at $16.23. 130,411 shares were traded during trading, a decline of 86% from the average session volume of 933,594 shares. The stock had previously closed at $16.91.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Morgan Stanley upped their target price on Despegar.com from $17.00 to $21.00 and gave the stock an "overweight" rating in a research note on Friday, November 29th. TD Cowen downgraded shares of Despegar.com from a "buy" rating to a "sell" rating and upped their target price for the stock from $12.00 to $14.00 in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $17.20.
Get Our Latest Report on Despegar.com
Despegar.com Stock Down 2.2 %
The firm's 50-day simple moving average is $15.66 and its 200 day simple moving average is $13.63.
Institutional Trading of Despegar.com
A number of institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC bought a new stake in Despegar.com during the 2nd quarter valued at about $1,102,000. Principal Financial Group Inc. purchased a new stake in shares of Despegar.com during the third quarter worth about $591,000. MayTech Global Investments LLC raised its position in shares of Despegar.com by 23.1% in the 3rd quarter. MayTech Global Investments LLC now owns 1,101,684 shares of the company's stock valued at $13,661,000 after purchasing an additional 207,023 shares during the last quarter. Rhumbline Advisers purchased a new stake in Despegar.com during the 2nd quarter worth approximately $1,159,000. Finally, Yarra Square Partners LP raised its stake in shares of Despegar.com by 15.2% during the 2nd quarter. Yarra Square Partners LP now owns 443,400 shares of the company's stock valued at $5,866,000 after buying an additional 58,400 shares during the last quarter. 67.93% of the stock is owned by hedge funds and other institutional investors.
About Despegar.com
(
Get Free Report)
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.
Further Reading
Before you consider Despegar.com, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Despegar.com wasn't on the list.
While Despegar.com currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
