Trip.com Group (NASDAQ:TCOM) Given New $64.00 Price Target at Bank of America

Trip.com Group (NASDAQ:TCOM) had its target price lowered by equities researchers at Bank of America from $78.00 to $64.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 56.52% from the stock’s previous close.

TCOM has been the topic of several other reports. Barclays lowered 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. Citigroup reduced their target price on Trip.com Group from $82.00 to $64.00 and set a “buy” rating for the company in a report on Thursday. Mizuho reduced their target price on Trip.com Group from $79.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday. Weiss Ratings cut Trip.com Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Finally, Benchmark lowered their price target on Trip.com Group from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Trip.com Group presently has an average rating of “Moderate Buy” and a consensus target price of $65.56.

Trip.com Group Price Performance

NASDAQ:TCOM 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 firm has a market cap of $26.56 billion, a P/E ratio of 6.40, a P/E/G ratio of 2.83 and a beta of -0.07. Trip.com Group has a fifty-two week low of $38.04 and a fifty-two week high of $78.99. The firm 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 issued its earnings results on Wednesday, June 24th. The company reported $0.83 earnings per share (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 during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the company posted $0.82 EPS. The company’s quarterly revenue was up 17.2% on a year-over-year basis. Analysts predict that Trip.com Group will post 3.61 earnings per share for the current fiscal year.

Institutional Investors 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. lifted 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 during the period. First Horizon Corp grew its stake in Trip.com Group by 69.3% during the first quarter. First Horizon Corp now owns 611 shares of the company’s stock valued at $30,000 after acquiring an additional 250 shares in the last quarter. TD Private Client Wealth LLC bought a new stake in Trip.com Group in the 4th quarter valued at $31,000. NewEdge Advisors LLC boosted its holdings in shares of 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 purchasing an additional 450 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Trip.com Group by 44.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 701 shares of the company’s stock valued at $41,000 after buying an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 35.41% of the company’s stock.

About Trip.com Group

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.