Vipshop (NYSE:VIPS) Stock Price Target Cut by Citigroup

Vipshop (NYSE:VIPS) had its price target decreased by equities research analysts at Citigroup from $15.30 to $13.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective would indicate a potential upside of 4.54% from the company’s current price.

Several other research firms have also issued reports on VIPS. Nomura reissued a “neutral” rating and issued a $14.00 target price on shares of Vipshop in a report on Thursday, August 27th. Zacks Research downgraded Vipshop from a “hold” rating to a “strong sell” rating in a research note on Friday, August 28th. JPMorgan Chase & Co. reduced their price target on shares of Vipshop from $21.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, September 10th. Morgan Stanley set a $16.00 target price on Vipshop in a research report on Wednesday, August 26th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Vipshop in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.16.

Vipshop Price Performance

Vipshop stock traded down $0.04 during mid-day trading on Tuesday, reaching $12.44. 1,187,888 shares of the stock traded hands, compared to its average volume of 2,406,957. The stock has a market capitalization of $5.95 billion, a PE ratio of 4.12, a price-to-earnings-growth ratio of 1.91 and a beta of 0.67. The business’s 50-day moving average is $13.81 and its 200-day moving average is $14.24. Vipshop has a 12-month low of $12.02 and a 12-month high of $21.08.

Vipshop (NYSE:VIPS) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.47). Vipshop had a net margin of 9.88% and a return on equity of 12.63%. The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Equities analysts anticipate that Vipshop will post 1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VIPS. Carmignac Gestion increased its position in Vipshop by 7.7% during the 1st quarter. Carmignac Gestion now owns 4,480,529 shares of the technology company’s stock valued at $70,510,000 after buying an additional 319,375 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Vipshop by 0.4% in the first quarter. Hsbc Holdings PLC now owns 2,327,725 shares of the technology company’s stock valued at $36,592,000 after purchasing an additional 9,395 shares during the period. Norges Bank purchased a new position in shares of Vipshop in the fourth quarter worth about $27,631,000. Prudential PLC lifted its holdings in shares of Vipshop by 16.0% during the fourth quarter. Prudential PLC now owns 1,240,584 shares of the technology company’s stock worth $21,946,000 after purchasing an additional 170,872 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Vipshop by 44.1% in the 1st quarter. SG Americas Securities LLC now owns 1,344,090 shares of the technology company’s stock worth $21,129,000 after buying an additional 411,123 shares during the period. Hedge funds and other institutional investors own 48.82% of the company’s stock.

About Vipshop

Vipshop Holdings Limited operates an online discount retail platform in China. Through its Vipshop website and mobile applications, the company offers branded products at promotional prices, primarily through limited-time and special-sale events.

Its merchandise categories include apparel, footwear, accessories, cosmetics, home and lifestyle products, consumer electronics, and other general merchandise. Vipshop sources products from brands, retailers, and distributors and provides online shopping, order fulfillment, and related customer services.

Founded in 2008, Vipshop has focused on serving consumers in mainland China with discounted branded goods.