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

Vipshop (NYSE:VIPS) had its target price lowered by analysts at Bank of America from $17.80 to $17.30 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Bank of America‘s price objective suggests a potential upside of 9.00% from the stock’s previous close.

A number of other equities research analysts have also commented on VIPS. Barclays reduced 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, May 22nd. Wall Street Zen lowered shares of Vipshop from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. Citigroup cut shares of Vipshop from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. decreased their price target 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. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.83.

Vipshop Trading Up 3.7%

NYSE:VIPS traded up $0.56 during mid-day trading on Friday, hitting $15.87. 363,324 shares of the company’s stock were exchanged, compared to its average volume of 3,611,989. The company has a 50 day simple moving average of $14.78 and a 200-day simple moving average of $14.60. Vipshop has a fifty-two week low of $11.50 and a fifty-two week high of $17.94. The firm has a market capitalization of $8.14 billion, a P/E ratio of 8.33, a PEG ratio of 2.55 and a beta of 0.58.

Institutional Investors Weigh In On Vipshop

Several institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in Vipshop by 209.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $38,000 after acquiring an additional 1,726 shares during the period. Exchange Traded Concepts LLC bought a new stake in Vipshop during the 2nd quarter valued at about $1,825,000. Strs Ohio bought a new stake in Vipshop during the 1st quarter valued at about $399,000. Acadian Asset Management LLC increased its stake in Vipshop by 17.4% during the 1st 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. Finally, Caxton Associates LLP bought a new stake in Vipshop during the 1st quarter valued at about $1,653,000. Hedge funds and other institutional investors own 48.82% of the company’s stock.

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.