Despegar.com (NYSE:DESP) Stock Rating Upgraded by TD Cowen

Despegar.com (NYSE:DESP) was upgraded by equities researchers at TD Cowen from a “sell” rating to a “hold” rating in a report released on Tuesday, MarketBeat Ratings reports.

Separately, Morgan Stanley upped their price objective on shares of Despegar.com from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Despegar.com has an average rating of “Moderate Buy” and a consensus price target of $17.20.

Despegar.com Price Performance

Shares of NYSE DESP opened at $19.45 on Tuesday. The business has a fifty day moving average of $16.11 and a two-hundred day moving average of $13.71. Despegar.com has a 52-week low of $8.06 and a 52-week high of $19.55.

Institutional Investors Weigh In On Despegar.com

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new position in Despegar.com during the second quarter worth about $2,618,000. Catalytic Wealth RIA LLC acquired a new position in Despegar.com during the second quarter valued at approximately $172,000. Rhumbline Advisers bought a new stake in Despegar.com in the second quarter valued at approximately $1,159,000. Allegheny Financial Group LTD acquired a new stake in Despegar.com in the second quarter worth $407,000. Finally, MayTech Global Investments LLC bought a new position in shares of Despegar.com during the second quarter worth $11,836,000. 67.93% of the stock is 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.