Citigroup Forecasts Strong Price Appreciation for Trip.com Group (NASDAQ:TCOM) Stock

Trip.com Group (NASDAQ:TCOM) had its price target increased by investment analysts at Citigroup from $73.00 to $78.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 20.43% from the company’s current price.

Several other equities analysts have also recently commented on TCOM. HSBC raised shares of Trip.com Group from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Tuesday, November 19th. Mizuho upped 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. Benchmark boosted their price objective on Trip.com Group from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Macquarie upped their price objective on Trip.com Group from $75.40 to $80.80 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, TD Cowen lifted their target price on Trip.com Group from $56.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Trip.com Group currently has an average rating of “Buy” and an average price target of $74.78.

Trip.com Group Trading Down 5.7 %

Shares of TCOM stock opened at $64.77 on Friday. The firm has a market capitalization of $41.72 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.10 and a beta of 0.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.42 and a current ratio of 1.42. Trip.com Group has a 1 year low of $34.42 and a 1 year high of $77.18. The stock has a fifty day moving average of $67.37 and a two-hundred day moving average of $55.82.

Hedge Funds Weigh In On Trip.com Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in shares of Trip.com Group in the third quarter worth $384,000. LMR Partners LLP purchased a new stake in Trip.com Group in the 3rd quarter worth about $18,435,000. Massachusetts Financial Services Co. MA boosted its position in Trip.com Group by 85.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 395,054 shares of the company’s stock worth $23,478,000 after acquiring an additional 182,403 shares during the period. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of Trip.com Group in the third quarter worth approximately $2,615,000. Finally, Varma Mutual Pension Insurance Co acquired a new stake in shares of Trip.com Group during the second quarter worth approximately $2,914,000. 35.41% of the stock is currently owned by hedge funds and other institutional investors.

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.