Trip.com Group (NASDAQ:TCOM) Given New $62.00 Price Target at Citigroup

Key Points

• Citigroup lowered its Trip.com Group price target from $64 to $62 while maintaining a “buy” rating, implying roughly 34% upside from the stock’s $46.23 price.
• Analyst sentiment remains broadly positive: 10 analysts rate the shares Buy, three Hold, and one Sell, resulting in a “Moderate Buy” consensus and an average target of $63.75.
• Trip.com’s latest revenue rose 17.2% year over year to $2.35 billion, exceeding estimates, though quarterly EPS of $0.83 narrowly missed the $0.85 consensus.

Trip.com Group (NASDAQ:TCOM - Get Free Report) had its target price dropped by investment analysts at Citigroup from $64.00 to $62.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 34.11% from the company's current price.

A number of other research firms have also weighed in on TCOM. Benchmark reissued a "buy" rating on shares of Trip.com Group in a research report on Tuesday. Bank of America restated a "buy" rating on shares of Trip.com Group in a research note on Wednesday. Jefferies Financial Group reaffirmed a "buy" rating and issued a $63.00 target price on shares of Trip.com Group in a report on Tuesday. Nomura reduced 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. Finally, Barclays decreased their price objective on shares of Trip.com Group from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, June 26th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.75.

Trip.com Group Stock Up 0.5%

Shares of Trip.com Group stock traded up $0.23 during trading on Thursday, reaching $46.23. 2,169,500 shares of the company traded hands, compared to its average volume of 3,532,504. The company has a 50 day moving average price of $44.69 and a 200-day moving average price of $51.41. Trip.com Group has a 1-year low of $38.04 and a 1-year high of $78.99. The firm has a market capitalization of $30.03 billion, a PE ratio of 7.23, a P/E/G ratio of 3.46 and a beta of -0.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.53 and a quick ratio of 1.53.

Trip.com Group (NASDAQ:TCOM - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the business posted $0.82 EPS. The company's revenue was up 17.2% on a year-over-year basis. As a group, equities research analysts expect that Trip.com Group will post 3.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TCOM. Temasek Holdings Private Ltd raised its holdings in Trip.com Group by 67.1% during the 4th quarter. Temasek Holdings Private Ltd now owns 2,239,671 shares of the company's stock valued at $161,055,000 after acquiring an additional 899,469 shares during the period. Perseverance Asset Management International purchased a new position in shares of Trip.com Group in the first quarter valued at $33,608,000. Voloridge Investment Management LLC bought a new stake in shares of Trip.com Group during the 3rd quarter valued at $48,273,000. True Light Capital Pte. Ltd. purchased a new stake in Trip.com Group during the 4th quarter worth about $26,876,000. Finally, Ardmore Road Asset Management LP purchased a new stake in Trip.com Group in the 1st quarter worth approximately $14,937,000. 35.41% of the stock is owned by institutional investors.

About Trip.com Group

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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