Vipshop (NYSE:VIPS) Upgraded to Buy at Wall Street Zen

Vipshop (NYSE:VIPS) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other research analysts also recently weighed in on the company. Zacks Research downgraded Vipshop from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. Barclays boosted their price target on Vipshop from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup restated a “neutral” rating on shares of Vipshop in a report on Thursday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Vipshop in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Vipshop from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Vipshop currently has a consensus rating of “Hold” and a consensus target price of $19.83.

Vipshop Trading Up 3.2%

NYSE VIPS opened at $18.67 on Friday. The firm’s fifty day simple moving average is $18.94 and its two-hundred day simple moving average is $16.68. The firm has a market capitalization of $9.57 billion, a P/E ratio of 10.15, a P/E/G ratio of 2.11 and a beta of 0.83. Vipshop has a 12-month low of $12.14 and a 12-month high of $21.08.

Hedge Funds Weigh In On Vipshop

A number of institutional investors have recently bought and sold shares of the business. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of Vipshop in the second quarter valued at approximately $256,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Vipshop by 12.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 446,034 shares of the technology company’s stock valued at $6,994,000 after acquiring an additional 49,632 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Vipshop in the 2nd quarter worth $282,000. Harvest Fund Management Co. Ltd raised its position in Vipshop by 66.6% during the first quarter. Harvest Fund Management Co. Ltd now owns 216,491 shares of the technology company’s stock worth $3,103,000 after acquiring an additional 86,548 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Vipshop by 17.4% during 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 purchasing an additional 2,483,294 shares in the last quarter. 48.82% of the stock is owned by hedge funds and other institutional investors.

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.