Trip.com Group (NASDAQ:TCOM) Shares Gap Up on Analyst Upgrade

Shares of Trip.com Group Limited (NASDAQ:TCOM) gapped up prior to trading on Tuesday after TD Cowen raised their price target on the stock from $56.00 to $71.00. The stock had previously closed at $61.32, but opened at $63.81. TD Cowen currently has a buy rating on the stock. Trip.com Group shares last traded at $62.42, with a volume of 746,885 shares trading hands.

A number of other analysts have also recently weighed in on the stock. HSBC raised shares of Trip.com Group from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Tuesday. Macquarie raised shares of Trip.com Group to a “strong-buy” rating in a report on Monday, October 7th. StockNews.com lowered Trip.com Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Mizuho increased their price objective on Trip.com Group from $65.00 to $78.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Sanford C. Bernstein began coverage on Trip.com Group in a report on Monday, November 4th. They issued an “outperform” rating and a $85.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Trip.com Group has an average rating of “Moderate Buy” and an average price target of $72.56.

Institutional Investors Weigh In On Trip.com Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in TCOM. Mitsubishi UFJ Trust & Banking Corp boosted its position in Trip.com Group by 0.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 40,632 shares of the company’s stock valued at $1,908,000 after buying an additional 375 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Trip.com Group by 10.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 33,512 shares of the company’s stock valued at $1,471,000 after buying an additional 3,196 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Trip.com Group by 4.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 237,368 shares of the company’s stock worth $10,434,000 after acquiring an additional 10,689 shares during the last quarter. Natixis increased its position in Trip.com Group by 50.9% in the first quarter. Natixis now owns 28,960 shares of the company’s stock worth $1,271,000 after buying an additional 9,763 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in Trip.com Group by 29.5% in the first quarter. Advisors Asset Management Inc. now owns 2,692 shares of the company’s stock valued at $118,000 after buying an additional 613 shares during the last quarter. 35.41% of the stock is currently owned by institutional investors and hedge funds.

Trip.com Group Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $40.41 billion, a price-to-earnings ratio of 18.78 and a beta of 0.39. The stock’s fifty day moving average is $59.93 and its two-hundred day moving average is $52.28.

Trip.com Group (NASDAQ:TCOM) last issued its quarterly earnings results on Monday, August 26th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.22. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. Trip.com Group had a return on equity of 11.52% and a net margin of 28.78%. On average, analysts expect that Trip.com Group Limited will post 2.93 earnings per share for the current fiscal year.

About Trip.com Group

Trip.com Group Limited, through its subsidiaries, operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours and in-destination, corporate travel management, and other travel-related services in China and internationally. The company acts as an agent for hotel-related transactions and selling air tickets, as well as provides train, long-distance bus, and ferry tickets; travel insurance products, such as flight delay, air accident, and baggage loss coverage; and air-ticket delivery, online check-in and seat selection, express security screening, real-time flight status tracker, and airport VIP lounge services.