Trip.com Group (NASDAQ:TCOM) Price Target Cut to $62.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Trip.com Group’s price target to $62 from $72 while maintaining an “overweight” rating, implying roughly 53% upside from the prior close.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $61.09, despite mixed recent adjustments from other firms.
• Trip.com shares traded near $40.51, well below their 52-week high of $78.99. The company recently reported $1.07 in quarterly EPS on $2.31 billion in revenue.

Trip.com Group (NASDAQ:TCOM - Get Free Report) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $72.00 to $62.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 53.04% from the stock's previous close.

TCOM has been the subject of several other research reports. Weiss Ratings lowered Trip.com Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 31st. Bank of America restated a "buy" rating on shares of Trip.com Group in a research report on Wednesday, July 29th. Nomura lowered their price objective on Trip.com Group from $71.00 to $51.00 and set a "neutral" rating for the company in a research note on Friday, June 26th. TD Cowen raised Trip.com Group to a "strong-buy" rating in a research report on Monday. Finally, China Renaissance restated a "hold" rating and set a $42.00 price target on shares of Trip.com Group in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.09.

Trip.com Group Price Performance

Shares of TCOM stock traded up $0.08 on Thursday, reaching $40.51. The company's stock had a trading volume of 560,969 shares, compared to its average volume of 3,446,897. The stock's fifty day simple moving average is $43.87 and its 200-day simple moving average is $47.43. Trip.com Group has a 1 year low of $38.04 and a 1 year high of $78.99. The company has a market capitalization of $26.32 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 3.13 and a beta of -0.05. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.06.

Trip.com Group (NASDAQ:TCOM - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported $1.07 EPS for the quarter. Trip.com Group had a net margin of 36.07% and a return on equity of 16.90%. The business had revenue of $2.31 billion during the quarter. Analysts forecast that Trip.com Group will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of Trip.com Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC bought a new position in shares of Trip.com Group during the fourth quarter valued at approximately $31,000. First Horizon Corp lifted its stake in shares of Trip.com Group by 69.3% during the 1st quarter. First Horizon Corp now owns 611 shares of the company's stock worth $30,000 after acquiring an additional 250 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Trip.com Group during the 2nd quarter valued at $37,000. EverSource Wealth Advisors LLC boosted its holdings in Trip.com Group by 24.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company's stock valued at $56,000 after acquiring an additional 218 shares during the period. Finally, AdvisorShares Investments LLC grew its position in Trip.com Group by 17.8% in the 4th quarter. AdvisorShares Investments LLC now owns 2,294 shares of the company's stock valued at $165,000 after acquiring an additional 347 shares during the last quarter. 35.41% of the stock is owned by hedge funds and other institutional investors.

Trip.com Group Company Profile

Trip.com Group Limited NASDAQ: TCOM is a global online travel services company headquartered in China. Originally founded as Ctrip in 1999, the company has expanded its operations and brands to serve travelers in China and international markets.

Through its Trip.com, Ctrip, Qunar and Skyscanner platforms, Trip.com Group provides hotel and accommodation bookings, transportation reservations, including air, rail and car services, vacation packages, guided tours and other travel-related products.

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