JPMorgan Chase & Co. Cuts Vipshop (NYSE:VIPS) Price Target to $17.00

by · The Markets Daily

Vipshop (NYSE:VIPS – Free Report) had its price objective reduced by JPMorgan Chase & Co. from $21.00 to $17.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other equities analysts have also issued reports on the company. Benchmark restated a “hold” rating on shares of Vipshop in a research note on Friday, May 22nd. Barclays dropped their price target on Vipshop from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, August 27th. Wall Street Zen lowered Vipshop from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Zacks Research cut Vipshop from a “hold” rating to a “strong sell” rating in a research note on Friday, August 28th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vipshop in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Vipshop has a consensus rating of “Hold” and a consensus price target of $17.85.

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Vipshop Stock Performance

Shares of NYSE VIPS opened at $12.47 on Thursday. Vipshop has a fifty-two week low of $12.45 and a fifty-two week high of $21.08. The company has a market cap of $5.97 billion, a PE ratio of 4.13, a P/E/G ratio of 1.91 and a beta of 0.67. The business has a 50-day simple moving average of $14.18 and a two-hundred day simple moving average of $14.60.

Vipshop (NYSE:VIPS – Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.47). The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Vipshop had a return on equity of 12.63% and a net margin of 9.88%. On average, sell-side analysts predict that Vipshop will post 1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vipshop

Hedge funds have recently modified their holdings of the company. Mariner LLC increased its holdings in shares of Vipshop by 3.2% in the 3rd quarter. Mariner LLC now owns 18,308 shares of the technology company’s stock valued at $360,000 after acquiring an additional 561 shares during the period. Arax Advisory Partners raised its position in Vipshop by 96.8% in the 4th quarter. Arax Advisory Partners now owns 1,407 shares of the technology company’s stock valued at $25,000 after purchasing an additional 692 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in Vipshop by 1.5% during the 4th quarter. Loomis Sayles & Co. L P now owns 63,826 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 949 shares during the period. Lansforsakringar Fondforvaltning AB publ boosted its stake in Vipshop by 1.7% during the 4th quarter. Lansforsakringar Fondforvaltning AB publ now owns 59,943 shares of the technology company’s stock worth $1,060,000 after purchasing an additional 1,000 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Vipshop by 12.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,366 shares of the technology company’s stock worth $179,000 after purchasing an additional 1,272 shares during the last quarter. 48.82% of the stock is owned by hedge funds and other institutional investors.

About Vipshop

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Vipshop Holdings Limited operates an online discount retail platform in China. Through its Vipshop website and mobile applications, the company offers branded products at promotional prices, primarily through limited-time and special-sale events.

Its merchandise categories include apparel, footwear, accessories, cosmetics, home and lifestyle products, consumer electronics, and other general merchandise. Vipshop sources products from brands, retailers, and distributors and provides online shopping, order fulfillment, and related customer services.

Founded in 2008, Vipshop has focused on serving consumers in mainland China with discounted branded goods.

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