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

Despegar.com, Corp. (NYSE:DESP)’s stock price gapped up prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DESP shares. Cantor Fitzgerald boosted their target price on shares of Despegar.com from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. B. Riley upped their target price on shares of Despegar.com from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Citigroup reiterated a “neutral” rating and issued a $14.50 target price (up from $11.50) on shares of Despegar.com in a research note on Monday, April 29th.

Despegar.com Trading Up 5.1 %

The stock’s 50-day simple moving average is $13.51 and its 200 day simple moving average is $11.12.

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

Hedge Funds Weigh In On Despegar.com

Large investors have recently made changes to their positions in the company. TimesSquare Capital Management LLC grew its holdings in Despegar.com by 27.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 396,400 shares of the company’s stock valued at $3,750,000 after buying an additional 85,600 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of Despegar.com in the fourth quarter valued at about $189,000. Tucker Asset Management LLC bought a new position in Despegar.com during the fourth quarter worth about $40,000. Norges Bank bought a new position in Despegar.com during the fourth quarter worth about $6,622,000. Finally, BNP Paribas Financial Markets raised its stake in Despegar.com by 405,440.0% in the 4th quarter. BNP Paribas Financial Markets now owns 121,662 shares of the company’s stock worth $1,151,000 after purchasing an additional 121,632 shares in the last quarter. Institutional investors 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.