Vipshop (NYSE:VIPS) Given New $17.00 Price Target at Citigroup

Vipshop (NYSE:VIPS) had its price objective reduced by Citigroup from $18.00 to $17.00 in a report issued on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the company. Benchmark restated a “hold” rating on shares of Vipshop in a report on Wednesday. StockNews.com downgraded Vipshop from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Morgan Stanley decreased their price objective on shares of Vipshop from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 20th. Barclays began coverage on Vipshop in a research note on Wednesday, November 6th. They set an “overweight” rating and a $19.00 price target for the company. Finally, UBS Group downgraded shares of Vipshop from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $12.50 in a research report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Vipshop has a consensus rating of “Hold” and an average price target of $17.50.

Vipshop Stock Up 2.2 %

VIPS stock opened at $13.55 on Wednesday. The company has a 50-day simple moving average of $14.64 and a 200 day simple moving average of $14.42. Vipshop has a fifty-two week low of $11.50 and a fifty-two week high of $20.19. The company has a market capitalization of $7.35 billion, a P/E ratio of 6.48, a PEG ratio of 1.49 and a beta of 0.34.

Vipshop (NYSE:VIPS) last issued its quarterly earnings data on Tuesday, August 20th. The technology company reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $3.43. The business had revenue of $25.08 billion for the quarter, compared to the consensus estimate of $26.61 billion. Vipshop had a return on equity of 21.04% and a net margin of 7.50%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. Equities analysts anticipate that Vipshop will post 1.97 EPS for the current year.

Hedge Funds Weigh In On Vipshop

Large investors have recently added to or reduced their stakes in the business. Atomi Financial Group Inc. boosted its position in shares of Vipshop by 6.8% in the third quarter. Atomi Financial Group Inc. now owns 11,050 shares of the technology company’s stock worth $174,000 after buying an additional 702 shares during the period. Signaturefd LLC lifted its holdings in Vipshop by 5.1% in the third quarter. Signaturefd LLC now owns 16,704 shares of the technology company’s stock worth $263,000 after acquiring an additional 817 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Vipshop by 2.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 48,963 shares of the technology company’s stock worth $770,000 after purchasing an additional 954 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in Vipshop by 0.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 298,200 shares of the technology company’s stock worth $4,691,000 after purchasing an additional 2,055 shares during the last quarter. Finally, National Pension Service grew its position in Vipshop by 2.0% in the 3rd quarter. National Pension Service now owns 107,152 shares of the technology company’s stock valued at $1,686,000 after buying an additional 2,074 shares in the last quarter. 48.82% of the stock is currently owned by hedge funds and other institutional investors.

About Vipshop

Vipshop Holdings Limited operates online platforms in the People's Republic of China. It operates in Vip.com, Shan Shan Outlets, and Others segments. The company offers womenswear, menswear, sportswear and sporting goods, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products.