JPMorgan Chase & Co. Lowers Trip.com Group (NASDAQ:TCOM) Price Target to $72.00

Key Points

• JPMorgan lowered Trip.com Group’s price target to $72 from $75 while maintaining an “overweight” rating, implying approximately 58% upside from the reported $45.49 share price.
• Analyst sentiment remains broadly positive: Trip.com has a “Moderate Buy” consensus rating and an average price target of $63.92, despite several recent target cuts and one “strong sell” downgrade.
• Trip.com reported quarterly revenue of $2.35 billion, exceeding estimates and rising 17.2% year over year, but earnings per share of $0.83 narrowly missed the $0.85 consensus forecast.

Trip.com Group (NASDAQ:TCOM - Get Free Report) had its target price cut by JPMorgan Chase & Co. from $75.00 to $72.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 58.28% from the company's current price.

TCOM has been the topic of several other research reports. Nomura decreased their target price on Trip.com Group from $71.00 to $51.00 and set a "neutral" rating on the stock in a research report on Friday, June 26th. Weiss Ratings cut Trip.com Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 25th. Jefferies Financial Group restated a "buy" rating and issued a $63.00 price target on shares of Trip.com Group in a research note on Tuesday. China Renaissance reaffirmed a "hold" rating and issued a $42.00 price objective on shares of Trip.com Group in a report on Thursday, July 2nd. Finally, Zacks Research cut Trip.com Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 30th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Trip.com Group currently has an average rating of "Moderate Buy" and a consensus target price of $63.92.

Trip.com Group Stock Performance

Shares of NASDAQ TCOM traded up $0.72 during midday trading on Tuesday, hitting $45.49. 1,221,038 shares of the company's stock were exchanged, compared to its average volume of 3,502,320. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.06. Trip.com Group has a 12 month low of $38.04 and a 12 month high of $78.99. The company's 50 day moving average price is $44.81 and its 200 day moving average price is $51.84. The firm has a market capitalization of $29.55 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 3.34 and a beta of -0.03.

Trip.com Group (NASDAQ:TCOM - Get Free Report) last announced its earnings results on Thursday, June 25th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.02). The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.30 billion. Trip.com Group had a return on equity of 17.57% and a net margin of 48.26%.The business's quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. As a group, analysts predict that Trip.com Group will post 3.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trip.com Group

Several institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. raised its holdings in Trip.com Group by 237.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 398 shares of the company's stock valued at $29,000 after acquiring an additional 280 shares in the last quarter. TD Private Client Wealth LLC bought a new stake in shares of Trip.com Group during the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Trip.com Group by 601.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 554 shares of the company's stock worth $42,000 after purchasing an additional 475 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Trip.com Group by 384.6% during the 1st quarter. NewEdge Advisors LLC now owns 567 shares of the company's stock worth $36,000 after purchasing an additional 450 shares in the last quarter. Finally, First Horizon Corp increased its position in shares of Trip.com Group by 69.3% in the first quarter. First Horizon Corp now owns 611 shares of the company's stock worth $30,000 after purchasing an additional 250 shares during the period. 35.41% of the stock is currently owned by institutional investors.

Trip.com Group Company Profile

Trip.com Group NASDAQ: TCOM is a China-based online travel services company that provides a broad range of consumer and business travel products. The company operates consumer-facing travel platforms and mobile apps that enable users to search, book and manage hotel reservations, airline tickets, packaged tours, rail travel, car rentals, airport transfers and local activities. It also offers corporate travel management and B2B solutions that support travel suppliers and downstream distribution partners.

Headquartered in Shanghai, Trip.com Group serves customers across China and increasingly in international markets through a portfolio of brands and global distribution channels.

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