Bank of America Forecasts Strong Price Appreciation for Trip.com Group (NASDAQ:TCOM) Stock

Trip.com Group (NASDAQ:TCOM) had its target price raised by analysts at Bank of America from $68.00 to $70.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 14.64% from the stock’s current price.

A number of other analysts have also recently issued reports on TCOM. TD Securities increased their price objective on shares of Trip.com Group from $67.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday. Benchmark reaffirmed a “buy” rating and set a $80.00 target price on shares of Trip.com Group in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Trip.com Group from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Mizuho raised shares of Trip.com Group to a “strong-buy” rating in a research note on Friday, May 2nd. Finally, Wall Street Zen cut shares of Trip.com Group from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $77.25.

Trip.com Group Stock Performance

Shares of NASDAQ TCOM opened at $61.06 on Wednesday. The firm has a fifty day moving average price of $60.29 and a 200-day moving average price of $64.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $39.89 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 0.67 and a beta of 0.08. Trip.com Group has a 1 year low of $38.23 and a 1 year high of $77.18.

Hedge Funds Weigh In On Trip.com Group

Several institutional investors have recently bought and sold shares of TCOM. WT Asset Management Ltd boosted its stake in shares of Trip.com Group by 92.3% during the 4th quarter. WT Asset Management Ltd now owns 44,416 shares of the company’s stock worth $3,050,000 after purchasing an additional 21,316 shares during the period. BOCHK Asset Management Ltd boosted its stake in shares of Trip.com Group by 85.7% during the 4th quarter. BOCHK Asset Management Ltd now owns 13,000 shares of the company’s stock worth $893,000 after purchasing an additional 6,000 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Trip.com Group during the 4th quarter worth about $4,192,000. Capital Advisory Group Advisory Services LLC purchased a new position in shares of Trip.com Group during the 4th quarter worth about $381,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Trip.com Group during the 4th quarter worth about $8,297,000. Institutional investors own 35.41% of the company’s stock.

Trip.com Group Company Profile

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.