Ctrip.Com International Ltd (ADR) (NASDAQ:CTRP) announced that its board of directors has appointed Ms. Jane Jie Sun as Chief Executive Officer and a member of the board of directors of the Company, effective immediately. Mr. James Jianzhang Liang, Ctrip’s Chairman and former Chief Executive Officer, will serve as Executive Chairman of the board with specific focus on Ctrip’s strategies and initiatives relating to innovations, international expansion, information technology, and investments and strategic alliances.
Ms. Sun has served at several senior executive positions at Ctrip since 2005. She was Ctrip’s Chief Operating Officer since May 2012 and Co-President since March 2015, and Chief Financial Officer from 2005 to 2012. Ms. Sun is well respected for her extensive experiences in operating and managing online travel businesses, mergers and acquisitions, and financial reporting and operations. During her tenure as Ctrip’s Chief Financial Officer, she won the Best CFO Award by Institutional Investor and Best CFO Award by CFO World. Prior to joining Ctrip, Ms. Sun worked as the head of the SEC and External Reporting Division of Applied Materials, Inc. since 1997. Prior to that, she worked with KPMG LLP as an audit manager in Silicon Valley, California for five years. She is a member of American Institute of Certified Public Accountants and State of California Certified Public Accountant. Ms. Sun received her bachelor’s degree from the business school of the University of Florida with high honors. She also attended Beijing University Law School and obtained her LLM degree.
Commenting on Ms. Sun’s promotion, Mr. Liang said, “Jane and I have been working together for eleven years. She has played a critical role in defining the Company’s strategic directions, managing business operations, making strategic investments and acquisitions, creating the current corporate structure, and cultivating new generation of talented business leaders. She also processes a unique leadership style and great personal characteristics. I have complete faith in Jane taking on the CEO role. We will work together, along with the rest of the team, to bring Ctrip to the next level.”
“I would like to thank the board for the confidence and trust in me,” said Ms. Sun, “I would also like to thank James for what he has accomplished: leading Ctrip to overcome various challenges to where we are today and laying the foundation for our future growth. I had the honor to work alongside with James during this period. Going forward, James and I will continue to work together to drive Ctrip to new heights. I am very excited about Ctrip’s future and will work hard with the board, management team and rest of the Company to grow it into the most innovative and valuable OTA in the world!” (Original Source)
Shares of Ctrip are falling nearly 4% to $40.44 in pre-market trading. CTRP has a 1-year high of $57.36 and a 1-year low of $35.50. The stock’s 50-day moving average is $46.91 and its 200-day moving average is $44.05.
On the ratings front, CTRP stock has been the subject of a number of recent research reports. In a report released yesterday, Brean Captial analyst Fawne Jiang reiterated a Buy rating on CTRP. Separately, on November 14, Oppenheimer’s Jed Kelly reiterated a Buy rating on the stock and has a price target of $55.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Fawne Jiang and Jed Kelly have a yearly average return of 1.7% and 25.7% respectively. Jiang has a success rate of 44% and is ranked #1234 out of 4223 analysts, while Kelly has a success rate of 66% and is ranked #126.
Sentiment on the street is mostly bullish on CTRP stock. Out of 7 analysts who cover the stock, 7 suggest a Buy rating . The 12-month average price target assigned to the stock is $54.80, which represents a potential upside of 30% from where the stock is currently trading.
Ctrip.com International Ltd. engages in the provision of travel-related services. It provides hotel accommodations, airline tickets, packaged tours, corporate travel management services, property management systems, and advertising services.