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

Trip.com Group Limited (NASDAQ:TCOM - Get Free Report) shares 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 traded.

Several other brokerages have also recently issued reports on TCOM. Mizuho raised their target price 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. Citigroup lifted their target price on Trip.com Group from $66.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Macquarie raised Trip.com Group to a "strong-buy" rating in a research report on Monday, October 7th. Hsbc Global Res lowered shares of Trip.com Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 8th. Finally, StockNews.com downgraded shares of Trip.com Group from a "buy" rating to a "hold" rating in a report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $72.56.

Hedge Funds Weigh In On Trip.com Group

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Trip.com Group by 20.5% in the third quarter. Geode Capital Management LLC now owns 317,894 shares of the company's stock worth $18,892,000 after acquiring an additional 54,072 shares during the last quarter. M&T Bank Corp purchased a new position in shares of Trip.com Group in the third quarter worth about $224,000. MML Investors Services LLC boosted its position in Trip.com Group by 12.3% during the third quarter. MML Investors Services LLC now owns 14,126 shares of the company's stock worth $839,000 after acquiring an additional 1,546 shares during the last quarter. XTX Topco Ltd grew its position in shares of Trip.com Group by 53.8% in the third quarter. XTX Topco Ltd now owns 16,612 shares of the company's stock valued at $987,000 after purchasing an additional 5,813 shares in the last quarter. Finally, CoreView Capital Management Ltd raised its holdings in shares of Trip.com Group by 15.8% during the 3rd quarter. CoreView Capital Management Ltd now owns 4,676,166 shares of the company's stock worth $277,905,000 after acquiring an additional 639,000 shares during the period. 35.41% of the stock is owned by hedge funds and other institutional investors.

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's 50-day moving average price is $59.61 and its two-hundred day moving average price is $52.22. The stock has a market cap of $40.41 billion, a price-to-earnings ratio of 18.57 and a beta of 0.39.

Trip.com Group (NASDAQ:TCOM - Get Free Report) last posted its earnings results on Monday, August 26th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.22. Trip.com Group had a return on equity of 11.52% and a net margin of 28.78%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. On average, analysts expect that Trip.com Group Limited will post 2.93 EPS 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.