Citigroup Boosts Vipshop (NYSE:VIPS) Price Target to $18.00

Vipshop (NYSE:VIPS) had its target price raised by Citigroup from $15.00 to $18.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other equities analysts also recently issued reports on VIPS. Morgan Stanley decreased their price objective on shares of Vipshop from $16.00 to $14.00 and set an equal weight rating on the stock in a report on Tuesday, August 20th. CLSA lowered Vipshop from an outperform rating to a hold rating and cut their price objective for the stock from $15.80 to $12.00 in a research note on Wednesday, August 21st. UBS Group downgraded Vipshop from a buy rating to a neutral rating and decreased their target price for the company from $20.00 to $12.50 in a research report on Wednesday, August 21st. Finally, StockNews.com upgraded Vipshop from a hold rating to a buy rating in a research report on Thursday, September 12th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $17.42.

Vipshop Stock Performance

Shares of Vipshop stock opened at $15.77 on Friday. The firm has a 50-day simple moving average of $13.25 and a two-hundred day simple moving average of $14.81. Vipshop has a fifty-two week low of $11.50 and a fifty-two week high of $20.19. The company has a market cap of $8.55 billion, a P/E ratio of 7.33 and a beta of 0.33.

Vipshop (NYSE:VIPS) last issued its quarterly earnings results on Tuesday, August 20th. The technology company reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $3.43. The company 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 22.51% and a net margin of 7.52%. Vipshop’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 earnings per share. Equities research analysts forecast that Vipshop will post 2 EPS for the current year.

Hedge Funds Weigh In On Vipshop

Institutional investors have recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. purchased a new stake in shares of Vipshop in the 4th quarter valued at approximately $39,000. Blue Trust Inc. increased its stake in Vipshop by 1,904.0% during the second quarter. Blue Trust Inc. now owns 3,527 shares of the technology company’s stock worth $46,000 after acquiring an additional 3,351 shares during the last quarter. Employees Retirement System of Texas raised its position in Vipshop by 143.2% in the second quarter. Employees Retirement System of Texas now owns 4,614 shares of the technology company’s stock valued at $60,000 after purchasing an additional 2,717 shares during the period. National Bank of Canada FI acquired a new position in shares of Vipshop in the 2nd quarter valued at $136,000. Finally, Ballentine Partners LLC purchased a new position in shares of Vipshop during the 1st quarter worth $189,000. Hedge funds and other institutional investors own 48.82% of the company’s stock.

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.