Despegar.com (NYSE:DESP) Shares Gap Down – Should You Sell?

Despegar.com, Corp. (NYSE:DESP)’s share price gapped down prior to trading on Friday . The stock had previously closed at $15.00, but opened at $14.70. Despegar.com shares last traded at $15.03, with a volume of 72,018 shares traded.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DESP shares. TD Cowen lifted their target price on shares of Despegar.com from $9.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $17.00 target price on shares of Despegar.com in a research report on Friday, August 16th. Finally, Citigroup raised their target price on Despegar.com from $14.50 to $15.00 and gave the company a “neutral” rating in a report on Monday, July 22nd.

Despegar.com Trading Up 0.1 %

The company’s 50 day moving average is $12.55 and its 200-day moving average is $12.75.

Despegar.com (NYSE:DESP) last released its quarterly earnings results on Thursday, August 15th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.15 by $0.12. The business had revenue of $185.05 million for the quarter, compared to analysts’ expectations of $184.35 million. Despegar.com had a negative return on equity of 62.18% and a net margin of 3.30%. As a group, analysts expect that Despegar.com, Corp. will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Despegar.com

Several institutional investors and hedge funds have recently made changes to their positions in DESP. Amalgamated Bank acquired a new stake in Despegar.com in the second quarter valued at $28,000. LRI Investments LLC bought a new position in Despegar.com during the 2nd quarter worth approximately $87,000. Hood River Capital Management LLC acquired a new position in shares of Despegar.com in the 1st quarter worth approximately $101,000. Adalta Capital Management LLC acquired a new position in shares of Despegar.com in the 1st quarter worth approximately $120,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Despegar.com in the 2nd quarter valued at approximately $128,000. 67.93% of the stock is currently owned by hedge funds and other institutional investors.

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.