Trip.com Group (NASDAQ:TCOM) Price Target Cut to $64.00 by Analysts at Bank of America

Trip.com Group (NASDAQ:TCOM) had its price target reduced by equities research analysts at Bank of America from $78.00 to $64.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 56.52% from the company’s current price.

Several other research analysts have also recently weighed in on TCOM. Barclays cut 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. Nomura lowered their target price on shares of Trip.com Group from $71.00 to $51.00 and set a “neutral” rating on the stock in a research note on Friday. Weiss Ratings lowered Trip.com Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Benchmark lowered their price objective on Trip.com Group from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Citigroup cut their price objective on Trip.com Group from $82.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.56.

Trip.com Group Stock Performance

Shares of TCOM stock opened at $40.89 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market capitalization of $26.56 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 2.83 and a beta of -0.07. Trip.com Group has a 52-week low of $38.04 and a 52-week high of $78.99. The company has a 50-day simple moving average of $49.31 and a two-hundred day simple moving average of $56.29.

Trip.com Group (NASDAQ:TCOM) last posted its earnings results on Wednesday, June 24th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.02). Trip.com Group had a return on equity of 17.57% and a net margin of 48.26%.The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the business earned $0.82 EPS. Trip.com Group’s quarterly revenue was up 17.2% compared to the same quarter last year. Research analysts anticipate that Trip.com Group will post 3.61 EPS for the current fiscal year.

Institutional Trading of Trip.com Group

Several large investors have recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Trip.com Group by 22.9% in the 1st quarter. Royal Bank of Canada now owns 32,521 shares of the company’s stock worth $2,068,000 after buying an additional 6,062 shares during the period. NewEdge Advisors LLC raised its stake in Trip.com Group by 384.6% during the first quarter. NewEdge Advisors LLC now owns 567 shares of the company’s stock valued at $36,000 after buying an additional 450 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Trip.com Group by 332.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,088 shares of the company’s stock worth $2,549,000 after acquiring an additional 30,819 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Trip.com Group by 44.2% in the second quarter. EverSource Wealth Advisors LLC now owns 701 shares of the company’s stock worth $41,000 after acquiring an additional 215 shares in the last quarter. Finally, Flow Traders U.S. LLC purchased a new stake in shares of Trip.com Group in the second quarter worth $215,000. 35.41% of the stock is owned by institutional investors.

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.