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

Trip.com Group Limited (NASDAQ:TCOM)’s share price gapped up prior to trading on Tuesday after TD Cowen raised their price target on the stock from $56.00 to $71.00. The stock had previously closed at $61.32, but opened at $63.81. TD Cowen currently has a buy rating on the stock. Trip.com Group shares last traded at $62.42, with a volume of 746,885 shares traded.

TCOM has been the subject of several other reports. Hsbc Global Res lowered Trip.com Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Benchmark boosted their target price on shares of Trip.com Group from $72.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday. HSBC upgraded shares of Trip.com Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Tuesday. StockNews.com lowered Trip.com Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Mizuho boosted their target price on shares of Trip.com Group from $65.00 to $78.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trip.com Group currently has an average rating of “Moderate Buy” and an average price target of $72.56.

Institutional Trading of Trip.com Group

Several hedge funds have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new position in shares of Trip.com Group during the third quarter worth $38,000. Fifth Third Bancorp raised its holdings in 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 acquiring an additional 986 shares in the last quarter. Hilltop National Bank increased its position in shares of Trip.com Group by 322.1% during the 2nd quarter. Hilltop National Bank now owns 1,148 shares of the company’s stock worth $54,000 after purchasing an additional 876 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Trip.com Group by 72.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,165 shares of the company’s stock worth $55,000 after purchasing an additional 489 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Trip.com Group during the 2nd quarter worth approximately $66,000. 35.41% of the stock is owned by institutional investors.

Trip.com Group Stock Performance

The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $59.93 and its two-hundred day moving average is $52.28. The firm has a market capitalization of $40.41 billion, a price-to-earnings ratio of 18.78 and a beta of 0.39.

Trip.com Group (NASDAQ:TCOM) last announced its quarterly earnings results 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 the consensus estimate of $1.80 billion. On average, analysts predict that Trip.com Group Limited will post 2.93 earnings per share for the current year.

About Trip.com Group

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.