TD Cowen Increases Despegar.com (NYSE:DESP) Price Target to $12.00

Despegar.com (NYSE:DESP) had its price target raised by TD Cowen from $9.00 to $12.00 in a research report sent to investors on Tuesday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Citigroup increased their target price on shares of Despegar.com from $14.50 to $15.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Cantor Fitzgerald reiterated an overweight rating and issued a $17.00 target price on shares of Despegar.com in a report on Friday, August 16th. Finally, B. Riley boosted their target price on Despegar.com from $16.00 to $19.00 and gave the stock a buy rating in a research note on Friday, May 17th.

Despegar.com Price Performance

Shares of DESP opened at $11.66 on Tuesday. The company’s 50-day simple moving average is $12.17 and its 200-day simple moving average is $11.89. Despegar.com has a 1 year low of $6.09 and a 1 year high of $15.82.

Institutional Investors Weigh In On Despegar.com

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fourth Sail Capital LP purchased a new position in Despegar.com in the fourth quarter valued at $12,954,000. Sylebra Capital LLC increased its holdings in shares of Despegar.com by 72.5% in the 2nd quarter. Sylebra Capital LLC now owns 2,923,275 shares of the company’s stock valued at $38,675,000 after acquiring an additional 1,228,824 shares during the last quarter. Coronation Fund Managers Ltd. acquired a new stake in shares of Despegar.com during the 2nd quarter worth about $15,680,000. Itau Unibanco Holding S.A. lifted its stake in Despegar.com by 107.0% during the second quarter. Itau Unibanco Holding S.A. now owns 2,072,713 shares of the company’s stock worth $26,446,000 after purchasing an additional 1,071,213 shares during the last quarter. Finally, MayTech Global Investments LLC purchased a new stake in Despegar.com during the second quarter worth approximately $11,836,000. 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.