Vipshop (NYSE:VIPS) Rating Increased to Buy at Citigroup

Vipshop (NYSE:VIPS) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, Marketbeat.com reports. The firm currently has a $20.00 target price on the technology company’s stock, up from their prior target price of $18.00. Citigroup’s price target would indicate a potential upside of 30.68% from the stock’s previous close.

Several other equities research analysts have also recently commented on VIPS. HSBC boosted their target price on Vipshop from $13.80 to $14.20 and gave the company a “hold” rating in a research note on Monday, August 21st. StockNews.com began coverage on Vipshop in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Benchmark restated a “buy” rating and issued a $19.00 target price on shares of Vipshop in a research note on Monday, August 21st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Vipshop presently has an average rating of “Moderate Buy” and a consensus price target of $17.41.

Vipshop Price Performance

NYSE:VIPS opened at $15.31 on Wednesday. Vipshop has a fifty-two week low of $8.55 and a fifty-two week high of $19.13. The stock has a market capitalization of $8.97 billion, a PE ratio of 8.10 and a beta of 0.52. The business’s 50-day simple moving average is $15.03 and its 200-day simple moving average is $15.88.

Vipshop (NYSE:VIPS) last released its quarterly earnings data on Tuesday, November 14th. The technology company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $0.40 by $2.93. Vipshop had a return on equity of 20.96% and a net margin of 7.23%. The business had revenue of $21.08 billion for the quarter, compared to analysts’ expectations of $34.36 billion. During the same quarter in the previous year, the business posted $0.28 EPS. Vipshop’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts expect that Vipshop will post 1.85 earnings per share for the current year.

Institutional Investors Weigh In On Vipshop

Institutional investors and hedge funds have recently made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Vipshop by 136.5% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 263,691 shares of the technology company’s stock worth $2,136,000 after acquiring an additional 152,189 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Vipshop by 13.9% during the 1st quarter. American Century Companies Inc. now owns 183,326 shares of the technology company’s stock worth $1,650,000 after acquiring an additional 22,392 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Vipshop during the 1st quarter worth approximately $108,000. Great West Life Assurance Co. Can increased its holdings in shares of Vipshop by 3.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 658,785 shares of the technology company’s stock worth $6,197,000 after acquiring an additional 21,100 shares during the last quarter. Finally, Yousif Capital Management LLC acquired a new position in shares of Vipshop during the 1st quarter worth approximately $146,000. Institutional investors own 49.84% of the company’s stock.

Vipshop Company Profile

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, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products.