Trip.com Group
TCOM
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 79% of sales from accommodation reservations and transportation ticketing in 2024. The rest of revenue comes from package tours and corporate travel. Before the pandemic in 2019, the company generated 25% of revenue from international travel, which is important to its margin expansion. Most of sales come from its domestic platform, but the company is expanding its overseas business. 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: 41,073
Fund manager confidence
Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)
12% less funds holding
Funds holding: 399 [Q1] → 352 (-47) [Q2]
12.79% less ownership
Funds ownership: 39.28% [Q1] → 26.5% (-12.79%) [Q2]
34% less call options, than puts
Call options by funds: $131M | Put options by funds: $198M
35% less repeat investments, than reductions
Existing positions increased: 105 | Existing positions reduced: 162
37% less capital invested
Capital invested by funds: $16.1B [Q1] → $10.2B (-$5.95B) [Q2]
48% less first-time investments, than exits
New positions opened: 43 | Existing positions closed: 83
54% less funds holding in top 10
Funds holding in top 10: 24 [Q1] → 11 (-13) [Q2]
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
|
Bernstein
Boris Van
|
$78
|
Outperform
Maintained
|
29 Aug 2025 |
|
Barclays
Jiong Shao
|
$85
|
Overweight
Maintained
|
29 Aug 2025 |
|
Mizuho
James Lee
|
$81
|
Outperform
Maintained
|
28 Aug 2025 |
Financial journalist opinion
Based on 10 articles about TCOM published over the past 30 days
