JPMorgan Chase & Co. Cuts Trip.com Group (NASDAQ:TCOM) Price Target to $62.00

Trip.com Group (NASDAQ:TCOM) had its target price decreased by JPMorgan Chase & Co. from $72.00 to $62.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts have also issued reports about the company. Barclays decreased their price objective on 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. Mizuho dropped their target price on Trip.com Group from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday. Zacks Research lowered Trip.com Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. 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. Finally, Citigroup lowered their price objective on Trip.com Group from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.09.

Trip.com Group Trading Up 0.8%

Shares of TCOM stock opened at $40.68 on Thursday. Trip.com Group has a 1 year low of $38.04 and a 1 year high of $78.99. The firm’s 50 day moving average is $43.80 and its 200-day moving average is $47.30. The firm has a market capitalization of $26.42 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 3.25 and a beta of -0.05.

Trip.com Group (NASDAQ:TCOM) last issued its quarterly earnings results on Friday, August 14th. The company reported $1.07 earnings per share for the quarter. Trip.com Group had a net margin of 36.07% and a return on equity of 16.99%. The business had revenue of $2.31 billion during the quarter. On average, equities research analysts forecast that Trip.com Group 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 TCOM. Main Management ETF Advisors LLC boosted its position in shares of Trip.com Group by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 18,009 shares of the company’s stock worth $1,295,000 after purchasing an additional 184 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Trip.com Group by 24.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $56,000 after purchasing an additional 218 shares during the last quarter. First Horizon Corp increased its holdings in Trip.com Group by 69.3% in the first quarter. First Horizon Corp now owns 611 shares of the company’s stock valued at $30,000 after purchasing an additional 250 shares during the last quarter. Corient Private Wealth LP increased its holdings in Trip.com Group by 3.2% in the second quarter. Corient Private Wealth LP now owns 10,312 shares of the company’s stock valued at $411,000 after purchasing an additional 319 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Trip.com Group by 4.6% in the first quarter. NewEdge Advisors LLC now owns 7,259 shares of the company’s stock valued at $361,000 after buying an additional 321 shares during the period. Institutional investors own 35.41% of the company’s stock.

Trip.com Group News Roundup

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

• Positive Sentiment: Trip.com reported an earnings beat, supporting the recent move higher. The company’s latest quarterly results included $1.07 in EPS and $2.31 billion in revenue, according to the provided performance data. Trip.com Group Shares Gap Up After Strong Earnings
• Positive Sentiment: Barclays initiated or reiterated a Buy rating on Trip.com, adding to the favorable analyst sentiment following the earnings report. Trip.com Receives a Buy from Barclays
• Positive Sentiment: Jefferies maintained its Buy rating, signaling continued confidence in Trip.com’s travel demand, earnings outlook and growth prospects. Jefferies Keeps Buy Rating
• Positive Sentiment: TD Cowen upgraded Trip.com to Strong Buy, while JPMorgan retained an Overweight rating and set a $62 price target, implying substantial upside from the recent trading level. Analysts’ Top Consumer Cyclical Picks
• Neutral Sentiment: Nomura lowered its price target to $44 from $51 but maintained a Neutral rating, reflecting a more cautious view of Trip.com’s valuation or near-term growth despite the earnings strength. Nomura Adjusts Trip.com Price Target
• Neutral Sentiment: Coverage is also examining whether second-quarter penalties, artificial intelligence developments and overseas expansion alter Trip.com’s longer-term bull case. Q2 Penalty, AI and Overseas Growth

About Trip.com Group

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.