Despegar.com (NYSE:DESP) Given New $21.00 Price Target at Morgan Stanley

Despegar.com (NYSE:DESP) had its target price lifted by investment analysts at Morgan Stanley from $17.00 to $21.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 17.38% from the stock’s previous close.

Several other brokerages have also weighed in on DESP. TD Cowen lowered shares of Despegar.com from a “buy” rating to a “sell” rating and raised their price objective for the stock from $12.00 to $14.00 in a report on Monday. Cantor Fitzgerald reissued an “overweight” rating and issued a $17.00 price objective on shares of Despegar.com in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.20.

Despegar.com Stock Performance

Shares of DESP traded up $0.16 during trading on Friday, reaching $17.89. The company’s stock had a trading volume of 631,607 shares, compared to its average volume of 936,903. The company has a fifty day moving average of $14.59 and a two-hundred day moving average of $13.39. Despegar.com has a twelve month low of $7.83 and a twelve month high of $19.00.

Institutional Investors Weigh In On Despegar.com

Institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank bought a new position in shares of Despegar.com during the second quarter worth about $28,000. Quarry LP grew its position in Despegar.com by 107.1% in the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock worth $34,000 after purchasing an additional 1,432 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Despegar.com during the third quarter valued at approximately $56,000. LRI Investments LLC bought a new position in Despegar.com in the 2nd quarter worth approximately $87,000. Finally, Sanctuary Advisors LLC bought a new stake in Despegar.com during the 2nd quarter valued at $128,000. Institutional investors and hedge funds own 67.93% of the company’s stock.

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.