Bank of America Has Lowered Expectations for Vipshop (NYSE:VIPS) Stock Price

Vipshop (NYSE:VIPS) had its target price cut by equities research analysts at Bank of America from $17.80 to $17.30 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Bank of America‘s target price indicates a potential upside of 9.56% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Barclays decreased their price target on shares of Vipshop from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. Citigroup cut shares of Vipshop from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Tuesday, April 1st. JPMorgan Chase & Co. decreased their target price on shares of Vipshop from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, June 30th. Finally, Wall Street Zen cut shares of Vipshop from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Vipshop currently has a consensus rating of “Hold” and an average price target of $15.83.

Vipshop Stock Performance

Shares of VIPS stock opened at $15.79 on Friday. The company has a market capitalization of $8.10 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 2.66 and a beta of 0.58. The company’s 50 day moving average price is $14.82 and its two-hundred day moving average price is $14.63. Vipshop has a 52 week low of $11.50 and a 52 week high of $17.94.

Hedge Funds Weigh In On Vipshop

A number of institutional investors and hedge funds have recently modified their holdings of VIPS. Wayfinding Financial LLC purchased a new stake in Vipshop in the 1st quarter valued at $35,000. Farther Finance Advisors LLC raised its position in Vipshop by 209.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $38,000 after buying an additional 1,726 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Vipshop by 1,695.2% during the 1st quarter. Brooklyn Investment Group now owns 2,621 shares of the technology company’s stock valued at $41,000 after purchasing an additional 2,475 shares during the last quarter. Atlas Capital Advisors Inc. increased its position in shares of Vipshop by 41.5% during the 1st quarter. Atlas Capital Advisors Inc. now owns 3,567 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,046 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in shares of Vipshop during the 1st quarter valued at $62,000. 48.82% of the stock is currently owned by institutional investors.

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