Trip.com Group (NASDAQ:TCOM) Shares Gap Up After Analyst Upgrade

Trip.com Group Limited (NASDAQ:TCOM) shares gapped up before the market opened on Thursday after Citigroup raised their price target on the stock from $66.00 to $72.00. The stock had previously closed at $62.39, but opened at $64.90. Citigroup currently has a buy rating on the stock. Trip.com Group shares last traded at $64.16, with a volume of 1,026,637 shares trading hands.

TCOM has been the subject of several other research reports. StockNews.com cut shares of Trip.com Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Hsbc Global Res downgraded Trip.com Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday. TD Cowen dropped their target price on shares of Trip.com Group from $63.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. HSBC downgraded shares of Trip.com Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Benchmark reissued a “buy” rating and issued a $72.00 price target on shares of Trip.com Group in a research note on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Trip.com Group presently has a consensus rating of “Moderate Buy” and an average price target of $64.63.

Hedge Funds Weigh In On Trip.com Group

Several hedge funds and other institutional investors have recently modified their holdings of TCOM. Fifth Third Bancorp grew its holdings in Trip.com Group by 1,188.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,069 shares of the company’s stock worth $50,000 after acquiring an additional 986 shares during the last quarter. Hilltop National Bank boosted its position in Trip.com Group by 322.1% during the second quarter. Hilltop National Bank now owns 1,148 shares of the company’s stock valued at $54,000 after acquiring an additional 876 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Trip.com Group by 72.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,165 shares of the company’s stock valued at $55,000 after purchasing an additional 489 shares during the period. Clarity Asset Management Inc. acquired a new position in Trip.com Group during the fourth quarter worth $66,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Trip.com Group in the second quarter valued at $66,000. Institutional investors own 35.41% of the company’s stock.

Trip.com Group Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $41.89 billion, a price-to-earnings ratio of 22.74 and a beta of 0.41. The business’s fifty day moving average price is $49.64 and its 200-day moving average price is $49.50.

Trip.com Group (NASDAQ:TCOM) last released its quarterly earnings results on Monday, August 26th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.22. Trip.com Group had a net margin of 28.78% and a return on equity of 11.52%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. On average, research analysts forecast that Trip.com Group Limited will post 2.93 EPS for the current year.

Trip.com Group Company Profile

Trip.com Group Limited, through its subsidiaries, operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours and in-destination, corporate travel management, and other travel-related services in China and internationally. The company acts as an agent for hotel-related transactions and selling air tickets, as well as provides train, long-distance bus, and ferry tickets; travel insurance products, such as flight delay, air accident, and baggage loss coverage; and air-ticket delivery, online check-in and seat selection, express security screening, real-time flight status tracker, and airport VIP lounge services.