Trip.com Group (NASDAQ:TCOM) Shares Gap Up - What's Next?

Key Points

• Trip.com Group shares opened higher, rising from a prior close of $39.25 to $40.93 before trading near $39.96.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $62.00, despite some downgrades and reduced targets.
• The company reported quarterly revenue of $2.35 billion, up 17.2% year over year and above estimates, though earnings per share of $0.83 narrowly missed expectations.

Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $39.25, but opened at $40.93. Trip.com Group shares last traded at $39.9570, with a volume of 1,284,679 shares.

Analysts Set New Price Targets

TCOM has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $63.00 price target on shares of Trip.com Group in a report on Tuesday, July 28th. Barclays reduced their price objective on Trip.com Group from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, June 26th. HSBC downgraded Trip.com Group from a "buy" rating to a "hold" rating in a research report on Thursday, September 3rd. Weiss Ratings lowered Trip.com Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, August 31st. Finally, Mizuho set a $60.00 target price on Trip.com Group in a research report on Wednesday. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.00.

Trip.com Group Stock Performance

The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $26.05 billion, a PE ratio of 6.25, a PEG ratio of 3.12 and a beta of -0.05. The business's 50 day moving average is $43.89 and its 200 day moving average is $47.51.

Trip.com Group (NASDAQ:TCOM - Get Free Report) last released its earnings results on Thursday, June 25th. The company reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.02). Trip.com Group had a net margin of 48.26% and a return on equity of 17.57%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the company posted $0.82 EPS. The company's quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts predict that Trip.com Group Limited Sponsored ADR will post 3.13 earnings per share for the current fiscal year.

Institutional Trading of Trip.com Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC boosted its stake in shares of Trip.com Group by 13.1% during the second quarter. Tidal Investments LLC now owns 151,316 shares of the company's stock valued at $6,028,000 after purchasing an additional 17,549 shares during the period. C WorldWide Group Holding A S increased its stake in Trip.com Group by 2.1% in the 2nd quarter. C WorldWide Group Holding A S now owns 613,630 shares of the company's stock worth $24,447,000 after buying an additional 12,463 shares during the period. Corient Private Wealth LP increased its stake in Trip.com Group by 3.2% in the 2nd quarter. Corient Private Wealth LP now owns 10,312 shares of the company's stock worth $411,000 after buying an additional 319 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its holdings in Trip.com Group by 10.9% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 23,546 shares of the company's stock valued at $938,000 after buying an additional 2,307 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Trip.com Group in the 2nd quarter valued at about $5,210,000. 35.41% of the stock is currently owned by 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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