Barclays Issues Positive Forecast for Trip.com Group (NASDAQ:TCOM) Stock Price

Key Points

• Barclays has raised its target price for Trip.com Group (NASDAQ: TCOM) from $84.00 to $85.00, indicating a potential upside of 13.43% from the stock's current price.
• Several analysts, including Mizuho and Bank of America, have increased their price targets for Trip.com Group, suggesting a general market optimism with a consensus price target of $77.62.
• Trip.com Group has a robust market presence, catering to various travel-related services in China and internationally, with a market cap of $48.96 billion.

Trip.com Group (NASDAQ:TCOM - Free Report) had its price objective raised by Barclays from $84.00 to $85.00 in a report published on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on the company. Mizuho raised their price target on Trip.com Group from $78.00 to $81.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Benchmark reissued a "buy" rating and set a $80.00 target price on shares of Trip.com Group in a report on Tuesday, May 20th. Bank of America lifted their target price on Trip.com Group from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, TD Securities lifted their target price on Trip.com Group from $67.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $76.98.

Trip.com Group Stock Performance

Trip.com Group stock traded up $0.02 during mid-day trading on Friday, hitting $71.61. 1,497,234 shares of the company's stock traded hands, compared to its average volume of 3,508,263. The firm has a 50 day simple moving average of $62.85 and a two-hundred day simple moving average of $61.61. Trip.com Group has a fifty-two week low of $46.20 and a fifty-two week high of $77.18. The stock has a market cap of $46.78 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 3.53 and a beta of 0.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.33 and a quick ratio of 1.46.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers increased its position in shares of Trip.com Group by 0.7% in the first quarter. Cetera Investment Advisers now owns 22,704 shares of the company's stock worth $1,444,000 after purchasing an additional 166 shares during the period. Advisory Services Network LLC increased its position in shares of Trip.com Group by 2.1% in the second quarter. Advisory Services Network LLC now owns 8,438 shares of the company's stock worth $523,000 after purchasing an additional 176 shares during the period. Legacy Wealth Asset Management LLC increased its position in shares of Trip.com Group by 2.1% in the second quarter. Legacy Wealth Asset Management LLC now owns 8,934 shares of the company's stock worth $524,000 after purchasing an additional 184 shares during the period. Frank Rimerman Advisors LLC increased its position in shares of Trip.com Group by 1.7% in the second quarter. Frank Rimerman Advisors LLC now owns 10,958 shares of the company's stock worth $643,000 after purchasing an additional 185 shares during the period. Finally, Blair William & Co. IL increased its position in shares of Trip.com Group by 3.9% in the second quarter. Blair William & Co. IL now owns 5,398 shares of the company's stock worth $317,000 after purchasing an additional 205 shares during the period. Institutional investors own 35.41% of the company's stock.

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.