TD Cowen Cuts Trip.com Group (NASDAQ:TCOM) Price Target to $68.00

Trip.com Group (NASDAQ:TCOM) had its price objective lowered by research analysts at TD Cowen from $73.00 to $68.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 30.03% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Trip.com Group in a research report on Monday, December 29th. Morgan Stanley reissued an “overweight” rating and set a $75.00 price objective on shares of Trip.com Group in a research report on Thursday. Barclays upped their price target on Trip.com Group from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Bank of America raised their price target on Trip.com Group from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Finally, Zacks Research lowered shares of Trip.com Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.30.

Trip.com Group Trading Down 2.5%

NASDAQ TCOM traded down $1.36 during trading on Thursday, hitting $52.30. The stock had a trading volume of 4,466,425 shares, compared to its average volume of 4,697,824. The firm has a 50 day moving average price of $64.58 and a 200 day moving average price of $68.79. The company has a market capitalization of $34.16 billion, a PE ratio of 8.36, a PEG ratio of 3.79 and a beta of -0.14. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.06. Trip.com Group has a twelve month low of $51.35 and a twelve month high of $78.99.

Institutional Trading of Trip.com Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Horizon Corp bought a new position in shares of Trip.com Group in the 3rd quarter worth about $27,000. Brown Brothers Harriman & Co. lifted its position in Trip.com Group by 237.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 398 shares of the company’s stock worth $29,000 after purchasing an additional 280 shares during the period. TD Private Client Wealth LLC bought a new position in Trip.com Group during the fourth quarter valued at about $31,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Trip.com Group by 601.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 554 shares of the company’s stock worth $42,000 after purchasing an additional 475 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in Trip.com Group by 384.6% in the first quarter. NewEdge Advisors LLC now owns 567 shares of the company’s stock worth $36,000 after buying an additional 450 shares during the last quarter. 35.41% of the stock is owned by hedge funds and other institutional investors.

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.