Trip.com Group (NASDAQ:TCOM) Shares Cross Above 50 Day Moving Average – Here’s Why

Shares of Trip.com Group Limited Sponsored ADR (NASDAQ:TCOM) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $40.38 and traded as high as $41.24. Trip.com Group shares last traded at $40.99, with a volume of 2,817,816 shares.

Analysts Set New Price Targets

TCOM has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on Trip.com Group from $72.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, September 17th. Citigroup cut their target price on Trip.com Group from $64.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. TD Cowen raised Trip.com Group to a “strong-buy” rating in a report on Monday, September 14th. Weiss Ratings lowered Trip.com Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, September 16th. Finally, HSBC lowered shares of Trip.com Group from a “buy” rating to a “hold” rating in a report on Thursday, September 3rd. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.45.

Trip.com Group Price Performance

The company has a market capitalization of $26.63 billion, a price-to-earnings ratio of 8.45, a price-to-earnings-growth ratio of 3.14 and a beta of -0.04. The firm has a fifty day simple moving average of $40.38 and a 200 day simple moving average of $47.86.

Trip.com Group (NASDAQ:TCOM) last posted its quarterly earnings data on Friday, August 14th. The company reported $1.07 earnings per share (EPS) 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 for the quarter. Research analysts predict that Trip.com Group Limited Sponsored ADR will post 3.07 EPS for the current year.

Institutional Investors Weigh In On Trip.com Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Trip.com Group in the 2nd quarter valued at $5,210,000. Hsbc Holdings PLC lifted its position in shares of Trip.com Group by 544.1% during the fourth quarter. Hsbc Holdings PLC now owns 73,747 shares of the company’s stock worth $5,280,000 after purchasing an additional 62,298 shares in the last quarter. Royal Bank of Canada increased its stake in Trip.com Group by 162.6% during the 1st quarter. Royal Bank of Canada now owns 136,340 shares of the company’s stock worth $6,789,000 after buying an additional 84,423 shares during the period. ABN Amro Investment Solutions lifted its holdings in Trip.com Group by 91.5% during the 1st quarter. ABN Amro Investment Solutions now owns 493,968 shares of the company’s stock worth $24,595,000 after buying an additional 235,997 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Trip.com Group by 24.8% in the 1st quarter. Sei Investments Co. now owns 370,430 shares of the company’s stock valued at $18,444,000 after buying an additional 73,650 shares during the period. Institutional investors and hedge funds own 35.41% of the company’s stock.

About Trip.com Group

Trip.com Group Limited (NASDAQ: TCOM) is a global online travel services company headquartered in China. Founded in 1999 as Ctrip, the company changed its name to Trip.com Group in 2019 to reflect its expanding international operations and portfolio of travel brands.

The company operates online platforms that help travelers research, plan and book trips. Its services include hotel and accommodation reservations, airline and train ticketing, vacation packages, attraction tickets, car rentals and other travel-related products.