Despegar.com (NYSE:DESP) Reaches New 1-Year High – Time to Buy?

Despegar.com, Corp. (NYSE:DESP) shares hit a new 52-week high on Monday . The stock traded as high as $19.43 and last traded at $19.43, with a volume of 797547 shares traded. The stock had previously closed at $14.65.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DESP shares. Morgan Stanley lifted their price objective on shares of Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 29th. TD Cowen cut Despegar.com from a “buy” rating to a “sell” rating and upped their price objective for the stock from $12.00 to $14.00 in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.20.

Despegar.com Trading Up 31.3 %

The stock has a 50 day moving average price of $15.84 and a two-hundred day moving average price of $13.64.

Institutional Trading of Despegar.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DESP. Bank of New York Mellon Corp acquired a new stake in shares of Despegar.com during the second quarter worth about $2,618,000. Catalytic Wealth RIA LLC purchased a new stake in shares of Despegar.com in the 2nd quarter valued at $172,000. Rhumbline Advisers purchased a new position in shares of Despegar.com during the second quarter worth $1,159,000. Allegheny Financial Group LTD purchased a new position in shares of Despegar.com during the second quarter worth $407,000. Finally, MayTech Global Investments LLC purchased a new stake in Despegar.com in the second quarter valued at $11,836,000. 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.