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

Vipshop (NYSE:VIPS) had its target price cut by equities researchers at JPMorgan Chase & Co. from $21.00 to $17.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 35.29% from the company’s previous close.

A number of other analysts have also recently commented on the company. Bank of America reiterated an “underperform” rating on shares of Vipshop in a research report on Friday, May 29th. Wall Street Zen cut shares of Vipshop from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Benchmark restated a “hold” rating on shares of Vipshop in a research report on Friday, May 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vipshop in a research note on Friday, August 21st. Finally, Morgan Stanley set a $16.00 price objective on Vipshop in a research report on Wednesday, August 26th. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.85.

Vipshop Trading Up 0.4%

Vipshop stock traded up $0.06 during mid-day trading on Thursday, hitting $12.57. The company’s stock had a trading volume of 450,741 shares, compared to its average volume of 2,381,481. The firm has a market capitalization of $6.02 billion, a PE ratio of 4.17, a price-to-earnings-growth ratio of 2.00 and a beta of 0.67. Vipshop has a 1 year low of $12.48 and a 1 year high of $21.08. The stock’s fifty day moving average is $14.21 and its two-hundred day moving average is $14.65.

Vipshop (NYSE:VIPS) last announced its quarterly earnings data on Tuesday, August 25th. The technology company reported $0.12 earnings per share (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 analyst estimates of $3.64 billion. On average, equities analysts expect that Vipshop will post 1.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Vipshop

Several hedge funds have recently modified their holdings of VIPS. Mariner LLC lifted its position in shares of Vipshop by 3.2% during the third quarter. Mariner LLC now owns 18,308 shares of the technology company’s stock worth $360,000 after purchasing an additional 561 shares in the last quarter. Arax Advisory Partners increased its stake in Vipshop by 96.8% during the fourth 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 raised its stake in Vipshop by 1.5% during the fourth quarter. Loomis Sayles & Co. L P now owns 63,826 shares of the technology company’s stock worth $1,129,000 after acquiring an additional 949 shares during the period. Lansforsakringar Fondforvaltning AB publ raised its position in shares of 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. increased its position in Vipshop by 12.6% in the first quarter. PNC Financial Services Group Inc. now owns 11,366 shares of the technology company’s stock worth $179,000 after buying an additional 1,272 shares during the period. 48.82% of the stock is currently owned by hedge funds and other institutional investors.

Vipshop Company Profile

Vipshop Holdings Limited (NYSE:VIPS) is a leading online discount retailer in China, offering high-quality branded products at competitive prices through a time-limited, flash-sales model. The company provides consumers with access to a rotating selection of merchandise, combining the excitement of limited-time offers with curated brand partnerships to drive customer engagement and loyalty.

Vipshop’s platform features a diverse range of product categories, including apparel, footwear, cosmetics, home furnishings, digital electronics and other lifestyle goods.