Vipshop (NYSE:VIPS – Get Free Report) had its target price reduced by investment analysts at Citigroup from $15.30 to $13.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective points to a potential upside of 4.54% from the company’s previous close.
A number of other brokerages have also weighed in on VIPS. Wall Street Zen lowered Vipshop from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Barclays cut their target price on Vipshop from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, August 27th. Zacks Research lowered Vipshop from a “hold” rating to a “strong sell” rating in a research note on Friday, August 28th. Morgan Stanley set a $16.00 price objective on shares of Vipshop in a report on Wednesday, August 26th. Finally, Nomura reiterated a “neutral” rating and set a $14.00 price target on shares of Vipshop in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.16.
Get Our Latest Research Report on VIPS
Vipshop Trading Down 0.3%
Vipshop (NYSE:VIPS – Get Free Report) last announced its earnings results on Wednesday, August 26th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.47). Vipshop had a net margin of 9.88% and a return on equity of 12.63%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. Equities research analysts predict that Vipshop will post 1.66 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Vipshop
A number of hedge funds and other institutional investors have recently modified their holdings of the company. KBC Group NV grew its stake in shares of Vipshop by 281.0% during the first quarter. KBC Group NV now owns 535,669 shares of the technology company’s stock valued at $8,421,000 after buying an additional 395,088 shares during the last quarter. Carmignac Gestion lifted its stake in Vipshop by 7.7% in the first quarter. Carmignac Gestion now owns 4,480,529 shares of the technology company’s stock worth $70,510,000 after acquiring an additional 319,375 shares during the period. Nykredit A S purchased a new stake in shares of Vipshop in the 2nd quarter worth about $2,349,000. Wellington Management Group LLP boosted its position in Vipshop by 15.0% during the 2nd quarter. Wellington Management Group LLP now owns 702,863 shares of the technology company’s stock valued at $9,320,000 after acquiring an additional 91,892 shares in the last quarter. Finally, SEB Asset Management AB bought a new stake in shares of Vipshop during the first quarter valued at approximately $2,862,000. 48.82% of the stock is currently owned by hedge funds and other institutional investors.
Vipshop Company Profile
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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