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

by · The Markets Daily

Shares of Trip.com Group Limited (NASDAQ:TCOM – Get Free Report) gapped up prior to trading 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 changing hands.

Several other research firms have also recently issued reports on TCOM. Macquarie raised Trip.com Group to a “strong-buy” rating in a research report on Monday, October 7th. StockNews.com cut shares of Trip.com Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Hsbc Global Res downgraded shares of Trip.com Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. TD Cowen reduced their price target on shares of Trip.com Group from $63.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Benchmark reaffirmed a “buy” rating and set a $72.00 price objective on shares of Trip.com Group in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Trip.com Group presently has an average rating of “Moderate Buy” and a consensus target price of $64.63.

Check Out Our Latest Research Report on TCOM

Institutional Trading of Trip.com Group

A number of hedge funds have recently added to or reduced their stakes in TCOM. Fifth Third Bancorp lifted its holdings in shares of Trip.com Group by 1,188.0% during the second quarter. Fifth Third Bancorp now owns 1,069 shares of the company’s stock worth $50,000 after purchasing an additional 986 shares during the period. Hilltop National Bank boosted its holdings in shares of Trip.com Group by 322.1% in 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 in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Trip.com Group by 72.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,165 shares of the company’s stock worth $55,000 after acquiring an additional 489 shares during the period. Clarity Asset Management Inc. acquired a new stake in Trip.com Group in the fourth quarter valued at about $66,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Trip.com Group in the 2nd quarter valued at approximately $66,000. 35.41% of the stock is owned by institutional investors and hedge funds.

Trip.com Group Price Performance

The company has a market cap of $41.89 billion, a price-to-earnings ratio of 22.74 and a beta of 0.41. The company has a 50-day simple moving average of $49.64 and a 200-day simple moving average of $49.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.32 and a current ratio of 1.32.

Trip.com Group (NASDAQ:TCOM – Get Free Report) last announced its quarterly earnings data on Monday, August 26th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.22. Trip.com Group had a return on equity of 11.52% and a net margin of 28.78%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. As a group, research analysts predict that Trip.com Group Limited will post 2.93 earnings per share for the current year.

About Trip.com Group

(Get Free Report)

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.

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