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

Trip.com Group (NASDAQ:TCOM) had its target price trimmed by Citigroup from $64.00 to $62.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

TCOM has been the topic of several other reports. Bank of America reiterated a “buy” rating on shares of Trip.com Group in a report on Wednesday. Mizuho reduced their target price on shares of Trip.com Group from $79.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $63.00 price target on shares of Trip.com Group in a research note on Tuesday. Nomura cut their price objective 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, June 26th. Finally, Barclays reduced their price objective on Trip.com Group from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, June 26th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Trip.com Group presently has an average rating of “Moderate Buy” and an average price target of $63.75.

Trip.com Group Stock Performance

TCOM opened at $47.01 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.06. Trip.com Group has a 12-month low of $38.04 and a 12-month high of $78.99. The business has a 50 day moving average of $44.67 and a 200-day moving average of $51.17. The stock has a market cap of $30.54 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 3.75 and a beta of -0.03.

Trip.com Group (NASDAQ:TCOM) last posted its earnings results on Thursday, June 25th. The company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The firm’s revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts expect that Trip.com Group will post 3.14 earnings per share for the current year.

Hedge Funds Weigh In On Trip.com Group

A number of hedge funds have recently bought and sold shares of the business. Brown Brothers Harriman & Co. raised its stake in Trip.com Group by 237.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 398 shares of the company’s stock worth $29,000 after purchasing an additional 280 shares in the last quarter. First Horizon Corp grew its position in shares of Trip.com Group by 69.3% during the 1st quarter. First Horizon Corp now owns 611 shares of the company’s stock worth $30,000 after purchasing an additional 250 shares in the last quarter. TD Private Client Wealth LLC bought a new position in shares of Trip.com Group during the fourth quarter worth approximately $31,000. NewEdge Advisors LLC increased its holdings in shares of Trip.com Group by 384.6% during the first quarter. NewEdge Advisors LLC now owns 567 shares of the company’s stock worth $36,000 after purchasing an additional 450 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Trip.com Group in the second quarter valued at approximately $37,000. 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.