Despegar.com (NYSE:DESP) Shares Gap Up to $12.50

Despegar.com, Corp. (NYSE:DESP) gapped up before the market opened on Thursday . The stock had previously closed at $12.50, but opened at $12.88. Despegar.com shares last traded at $13.09, with a volume of 78,198 shares trading hands.

Analysts Set New Price Targets

A number of research firms have weighed in on DESP. Cantor Fitzgerald lifted their price objective on Despegar.com from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Citigroup restated a “neutral” rating and issued a $14.50 price target (up previously from $11.50) on shares of Despegar.com in a research note on Monday, April 29th. Finally, B. Riley lifted their price target on Despegar.com from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, May 17th.

Despegar.com Stock Up 0.8 %

The company has a fifty day moving average of $13.58 and a 200-day moving average of $11.17.

Despegar.com (NYSE:DESP) last posted its quarterly earnings data on Thursday, May 16th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. Despegar.com had a negative return on equity of 44.06% and a net margin of 5.41%. The company had revenue of $173.66 million for the quarter, compared to analysts’ expectations of $172.23 million. Equities research analysts anticipate that Despegar.com, Corp. will post 0.83 earnings per share for the current year.

Institutional Investors Weigh In On Despegar.com

Several institutional investors have recently bought and sold shares of DESP. Activest Wealth Management acquired a new stake in Despegar.com in the 1st quarter worth about $39,000. Tucker Asset Management LLC acquired a new position in shares of Despegar.com during the 4th quarter worth approximately $40,000. Tower Research Capital LLC TRC boosted its holdings in shares of Despegar.com by 83.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,617 shares of the company’s stock worth $44,000 after purchasing an additional 2,104 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Despegar.com during the 4th quarter worth approximately $99,000. Finally, Hood River Capital Management LLC acquired a new position in shares of Despegar.com during the 1st quarter worth approximately $101,000. 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.