Trip.com GroupTCOM
About: Trip.com is the largest online travel agent in China and is positioned to benefit from the country's rising demand for higher-margin outbound travel as passport penetration is only 12% in China. The company generated about 78% of sales from accommodation reservations and transportation ticketing in 2020. The rest of revenue comes from package tours and corporate travel. Before the pandemic in 2019, the company generated 25% of revenue from international business, which is important to its margin expansion. Most of sales come from its online platform, but the company also maintains offline call centers. The competes in a crowded OTA industry in China, including Meituan, Alibaba-backed Fliggy, Tongcheng, and Qunar. The company was founded in 1999 and listed on the Nasdaq in December 2003.
Employees: 36,249
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
43% more first-time investments, than exits
New positions opened: 63 | Existing positions closed: 44
6% more funds holding
Funds holding: 340 [Q1] → 359 (+19) [Q2]
0% more capital invested
Capital invested by funds: $11.5B [Q1] → $11.6B (+$28.1M) [Q2]
2% less repeat investments, than reductions
Existing positions increased: 128 | Existing positions reduced: 130
4.22% less ownership
Funds ownership: 39.29% [Q1] → 35.07% (-4.22%) [Q2]
27% less funds holding in top 10
Funds holding in top 10: 26 [Q1] → 19 (-7) [Q2]
38% less call options, than puts
Call options by funds: $103M | Put options by funds: $166M
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
Citigroup Brian Gong 50% 1-year accuracy 2 / 4 met price target | 17%upside $72 | Buy Maintained | 10 Oct 2024 |
TD Cowen Kevin Kopelman 89% 1-year accuracy 8 / 9 met price target | 9%downside $56 | Buy Maintained | 27 Aug 2024 |
Benchmark Fawne Jiang 63% 1-year accuracy 39 / 62 met price target | 17%upside $72 | Buy Reiterated | 27 Aug 2024 |
Financial journalist opinion
Based on 12 articles about TCOM published over the past 30 days
