Citigroup Cuts Vipshop (NYSE:VIPS) Price Target to $13.00

Vipshop (NYSE:VIPS) had its price target lowered by Citigroup from $15.30 to $13.00 in a report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Several other research analysts have also recently weighed in on VIPS. Nomura reiterated a “neutral” rating and set a $14.00 price target on shares of Vipshop in a research report on Thursday, August 27th. Barclays dropped their price objective on shares of 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 shares of Vipshop from a “hold” rating to a “strong sell” rating in a report on Friday, August 28th. JPMorgan Chase & Co. decreased their target price on shares of Vipshop from $21.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, September 10th. Finally, Wall Street Zen downgraded shares of Vipshop from a “buy” rating to a “hold” rating in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.16.

Vipshop Price Performance

NYSE:VIPS opened at $12.44 on Tuesday. The firm has a market capitalization of $5.96 billion, a P/E ratio of 4.12, a PEG ratio of 1.93 and a beta of 0.57. Vipshop has a 1-year low of $12.02 and a 1-year high of $21.08. The company’s fifty day moving average price is $13.68 and its 200-day moving average price is $14.17.

Vipshop (NYSE:VIPS) last issued its earnings results on Wednesday, August 26th. 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 return on equity of 12.63% and a net margin of 9.88%.The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Equities analysts anticipate that Vipshop will post 1.66 EPS for the current fiscal year.

Institutional Trading of Vipshop

Institutional investors have recently bought and sold shares of the business. Carmignac Gestion grew its stake in Vipshop by 9.8% in the 2nd quarter. Carmignac Gestion now owns 4,920,324 shares of the technology company’s stock valued at $65,166,000 after acquiring an additional 439,795 shares during the period. Hsbc Holdings PLC raised its position in Vipshop by 0.4% during the first quarter. Hsbc Holdings PLC now owns 2,327,725 shares of the technology company’s stock worth $36,592,000 after acquiring an additional 9,395 shares during the period. Norges Bank purchased a new position in Vipshop during the fourth quarter valued at $27,631,000. SG Americas Securities LLC lifted its holdings in Vipshop by 44.1% during the first quarter. SG Americas Securities LLC now owns 1,344,090 shares of the technology company’s stock valued at $21,129,000 after purchasing an additional 411,123 shares in the last quarter. Finally, Prudential PLC lifted its holdings in Vipshop by 16.0% during the fourth quarter. Prudential PLC now owns 1,240,584 shares of the technology company’s stock valued at $21,946,000 after purchasing an additional 170,872 shares in the last quarter. 48.82% of the stock is owned by institutional investors and hedge funds.

Vipshop Company Profile

Vipshop Holdings Limited (NYSE: VIPS) is a China-based online discount retailer specializing in branded products offered through limited-time promotional events. The company operates the Vipshop platform, which connects consumers with discounted apparel, footwear, beauty products, household goods, consumer electronics and other merchandise from domestic and international brands.

Founded in 2008, Vipshop built its business around the “flash sale” model, offering select products for a limited period and helping brands manage excess inventory and reach price-conscious consumers.