Despegar Com Inc (DESP) Receives Average Recommendation of “Buy” from Brokerages

Shares of Despegar Com Inc (NYSE:DESP) have been given an average rating of “Buy” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $35.00.

Several analysts recently commented on the company. Zacks Investment Research raised Despegar Com from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Friday, December 15th. Cowen reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Despegar Com in a report on Sunday, November 19th. Morgan Stanley boosted their price target on Despegar Com from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, November 17th. Citigroup started coverage on Despegar Com in a report on Tuesday, October 17th. They set a “neutral” rating and a $34.00 price target for the company. Finally, UBS Group started coverage on Despegar Com in a report on Monday, October 16th. They set a “neutral” rating and a $36.00 price target for the company.

Despegar Com (NYSE:DESP) traded up $0.90 during mid-day trading on Monday, hitting $28.23. The stock had a trading volume of 75,300 shares, compared to its average volume of 130,325. Despegar Com has a 52-week low of $22.73 and a 52-week high of $34.70.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Grandeur Peak Global Advisors LLC bought a new position in shares of Despegar Com in the third quarter worth about $160,000. Cubist Systematic Strategies LLC bought a new position in shares of Despegar Com in the third quarter worth about $192,000. Nationwide Fund Advisors bought a new position in shares of Despegar Com in the third quarter worth about $253,000. SG Americas Securities LLC bought a new position in shares of Despegar Com in the third quarter worth about $332,000. Finally, Davidson Kempner Capital Management LP bought a new position in shares of Despegar Com in the third quarter worth about $640,000. 72.64% of the stock is owned by hedge funds and other institutional investors.

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About Despegar Com

Despegar.com Corp is an Argentina-based travel agency. The Company’s activities are divided into two business segments: Air, as well as Packages, Hotels and Other Travel Products. The Air division focuses on the sale of airline tickets. The Packages, Hotels and Other Travel Products division includes sales of travel packages with or without airline tickets and hotel rooms, as well as stand-alone sales of hotel rooms, including vacation rentals, car rentals, bus tickets, cruise tickets, travel insurance and destination services.

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