Citigroup Increases Vipshop (NYSE:VIPS) Price Target to $19.00

Vipshop (NYSE:VIPS) had its price target hoisted by Citigroup from $17.00 to $19.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup’s target price suggests a potential upside of 12.03% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Vipshop from a “buy” rating to a “hold” rating in a report on Thursday, May 29th. JPMorgan Chase & Co. reduced their target price on shares of Vipshop from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, June 30th. Barclays reduced their target price on shares of Vipshop from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Finally, Bank of America reduced their target price on shares of Vipshop from $17.80 to $17.30 and set a “buy” rating for the company in a report on Friday, July 18th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.97.

Vipshop Price Performance

VIPS stock opened at $16.96 on Friday. The business has a 50-day moving average price of $15.32 and a 200 day moving average price of $14.93. The company has a market capitalization of $8.70 billion, a P/E ratio of 9.22, a PEG ratio of 1.89 and a beta of 0.54. Vipshop has a 1-year low of $11.50 and a 1-year high of $17.94.

Institutional Investors Weigh In On Vipshop

A number of large investors have recently modified their holdings of VIPS. Norges Bank purchased a new stake in shares of Vipshop during the second quarter worth about $50,725,000. Acadian Asset Management LLC boosted its position in Vipshop by 17.4% in the first quarter. Acadian Asset Management LLC now owns 16,760,405 shares of the technology company’s stock valued at $262,757,000 after buying an additional 2,483,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Vipshop by 3,533.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,020,863 shares of the technology company’s stock valued at $310,000 after buying an additional 1,965,244 shares during the last quarter. SG Americas Securities LLC boosted its position in Vipshop by 6,092.5% in the second quarter. SG Americas Securities LLC now owns 1,926,991 shares of the technology company’s stock valued at $29,001,000 after buying an additional 1,895,873 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Vipshop in the first quarter valued at approximately $27,051,000. Hedge funds and other institutional investors own 48.82% 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 and sporting goods, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products.