Trip.com Group (NASDAQ:TCOM) Given New $64.00 Price Target at Citigroup

Trip.com Group logo with Consumer Discretionary background
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Key Points

  • Citigroup cut its price target on Trip.com Group from $82 to $64, but kept a Buy rating. The new target still implies about 58% upside from the current share price.
  • Trip.com shares were trading sharply lower, opening at $40.49 and down about 12.5%. The stock is also well below its 50-day and 200-day moving averages, reflecting recent weakness.
  • The company’s latest earnings showed revenue growth of 21% year over year to $2.20 billion, but EPS slightly missed estimates. Several analysts have since lowered their price targets, though the consensus rating remains Moderate Buy.
  • MarketBeat previews the top five stocks to own by July 1st.

Trip.com Group (NASDAQ:TCOM - Get Free Report) had its target price decreased by investment analysts at Citigroup from $82.00 to $64.00 in a report released on Thursday,MarketScreener reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 58.06% from the company's current price.

TCOM has been the subject of several other research reports. Barclays restated an "overweight" rating and set a $75.00 price target on shares of Trip.com Group in a research report on Thursday, February 26th. TD Cowen dropped their target price on shares of Trip.com Group from $73.00 to $68.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Nomura reduced their target price on shares of Trip.com Group from $71.00 to $51.00 and set a "neutral" rating for the company in a research report on Friday. Benchmark decreased their price target on shares of Trip.com Group from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Mizuho dropped their price objective on Trip.com Group from $79.00 to $65.00 and set an "outperform" rating on the stock in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.03.

Read Our Latest Stock Report on TCOM

Trip.com Group Stock Down 12.5%

Shares of NASDAQ:TCOM opened at $40.49 on Thursday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. The business's 50 day moving average is $49.57 and its 200 day moving average is $56.49. Trip.com Group has a 12-month low of $38.04 and a 12-month high of $78.99. The stock has a market cap of $26.30 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 3.21 and a beta of -0.07.

Trip.com Group (NASDAQ:TCOM - Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.01). Trip.com Group had a return on equity of 17.77% and a net margin of 48.26%.The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter last year, the firm posted $0.60 earnings per share. The firm's revenue for the quarter was up 21% compared to the same quarter last year. On average, sell-side analysts forecast that Trip.com Group will post 3.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trip.com Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP boosted its holdings in shares of Trip.com Group by 7.0% in the third quarter. Allworth Financial LP now owns 2,154 shares of the company's stock worth $162,000 after acquiring an additional 140 shares during the period. Park Avenue Securities LLC lifted its holdings in Trip.com Group by 5.2% during the 4th quarter. Park Avenue Securities LLC now owns 2,997 shares of the company's stock worth $216,000 after purchasing an additional 148 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Trip.com Group by 2.1% during the 2nd quarter. Advisory Services Network LLC now owns 8,438 shares of the company's stock worth $523,000 after purchasing an additional 176 shares in the last quarter. CWM LLC boosted its stake in Trip.com Group by 8.0% in the 4th quarter. CWM LLC now owns 2,443 shares of the company's stock worth $176,000 after purchasing an additional 181 shares during the period. Finally, Main Management ETF Advisors LLC grew its holdings in Trip.com Group by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 18,009 shares of the company's stock valued at $1,295,000 after buying an additional 184 shares in the last quarter. Institutional investors own 35.41% of the company's stock.

More Trip.com Group News

Here are the key news stories impacting Trip.com Group this week:

About Trip.com Group

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Trip.com Group (NASDAQ:TCOM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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