Despegar.com Corp (DESP) Receives $26.40 Average PT from Brokerages
Shares of Despegar.com Corp (NYSE:DESP) have earned a consensus rating of “Hold” from the seven analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $26.40.
Several equities analysts have commented on the company. KeyCorp lowered their price objective on Despegar.com from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Zacks Investment Research raised Despegar.com from a “sell” rating to a “hold” rating in a research report on Monday, June 18th. Morgan Stanley lowered their price objective on Despegar.com from $31.00 to $24.00 and set an “equal weight” rating for the company in a research report on Friday, July 20th. Cowen reissued a “buy” rating and set a $20.00 price objective on shares of Despegar.com in a research report on Friday, August 17th. Finally, Citigroup lowered their price objective on Despegar.com from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 17th.
Shares of DESP stock opened at $15.51 on Wednesday. Despegar.com has a 52 week low of $14.80 and a 52 week high of $36.56. The firm has a market capitalization of $1.17 billion and a P/E ratio of 22.48.
Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new position in Despegar.com during the first quarter valued at $227,000. GSA Capital Partners LLP purchased a new position in Despegar.com during the first quarter valued at $243,000. Bank of America Corp DE purchased a new position in Despegar.com during the second quarter valued at $173,000. Barclays PLC purchased a new position in Despegar.com during the first quarter valued at $292,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Despegar.com during the second quarter valued at $270,000. 75.48% of the stock is owned by institutional investors and hedge funds.
Despegar.com, Corp., an online travel company, provides a range of travel and travel-related products through its Websites and mobile applications in Latin America. It operates through two segments, Air; and Packages, Hotels and Other Travel Products. The company offers airline tickets, packages, hotels, and other travel-related products under the Despegar and Decolar brands, which enable consumers to find, compare, plan, and purchase travel products through its marketplace.
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