Citigroup Cuts Trip.com Group (NASDAQ:TCOM) Price Target to $62.00

Trip.com Group (NASDAQ:TCOM) had its price target dropped by 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 indicates a potential upside of 34.11% from the stock’s previous close.

Several other analysts have also recently weighed in on TCOM. China Renaissance reiterated a “hold” rating and issued a $42.00 price target on shares of Trip.com Group in a report on Thursday, July 2nd. Weiss Ratings cut shares of Trip.com Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 25th. Benchmark reaffirmed a “buy” rating on shares of Trip.com Group in a research note on Tuesday. Barclays reduced their price target on shares of Trip.com Group from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Finally, Bank of America reissued a “buy” rating on shares of Trip.com Group in a research note on Wednesday. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Trip.com Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.75.

Trip.com Group Trading Up 0.5%

NASDAQ:TCOM traded up $0.23 during mid-day trading on Thursday, reaching $46.23. 2,169,500 shares of the company’s stock 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. The firm has a market capitalization of $30.03 billion, a price-to-earnings ratio of 7.23, a PEG 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 has a 12-month low of $38.04 and a 12-month high of $78.99.

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

Hedge Funds Weigh In On Trip.com Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCOM. Brown Brothers Harriman & Co. boosted its holdings in shares of Trip.com Group by 237.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 398 shares of the company’s stock valued at $29,000 after buying an additional 280 shares in the last quarter. First Horizon Corp increased its stake in shares of Trip.com Group by 69.3% in the 1st quarter. First Horizon Corp now owns 611 shares of the company’s stock worth $30,000 after acquiring an additional 250 shares in the last quarter. TD Private Client Wealth LLC purchased a new position in Trip.com Group during the 4th quarter valued at about $31,000. NewEdge Advisors LLC lifted its position in Trip.com Group by 384.6% during the 1st quarter. NewEdge Advisors LLC now owns 567 shares of the company’s stock valued at $36,000 after acquiring an additional 450 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in Trip.com Group during the second quarter worth about $37,000. Hedge funds and other institutional investors own 35.41% of the company’s stock.

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.