Vipshop (NYSE:VIPS) Price Target Cut to $17.00 by Analysts at Citigroup

Vipshop (NYSE:VIPS) had its target price decreased by Citigroup from $18.00 to $17.00 in a report released on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

VIPS has been the topic of a number of other reports. UBS Group downgraded shares of Vipshop from a “buy” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $12.50 in a research note on Wednesday, August 21st. Morgan Stanley lowered their target price on shares of Vipshop from $16.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. StockNews.com cut Vipshop from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Benchmark reiterated a “hold” rating on shares of Vipshop in a report on Wednesday. Finally, CLSA cut shares of Vipshop from an “outperform” rating to a “hold” rating and lowered their target price for the company from $15.80 to $12.00 in a research note on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Vipshop presently has an average rating of “Hold” and an average target price of $17.50.

Vipshop Price Performance

Shares of VIPS opened at $13.55 on Wednesday. Vipshop has a fifty-two week low of $11.50 and a fifty-two week high of $20.19. The firm has a market capitalization of $7.35 billion, a PE ratio of 6.48, a PEG ratio of 1.49 and a beta of 0.34. The company’s 50-day moving average is $14.64 and its 200-day moving average is $14.42.

Vipshop (NYSE:VIPS) last announced its quarterly earnings data on Tuesday, August 20th. The technology company reported $3.91 EPS for the quarter, topping the consensus estimate of $0.48 by $3.43. The company had revenue of $25.08 billion during the quarter, compared to the consensus estimate of $26.61 billion. Vipshop had a net margin of 7.50% and a return on equity of 21.04%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. Analysts predict that Vipshop will post 1.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vipshop

A number of hedge funds and other institutional investors have recently made changes to their positions in VIPS. Geode Capital Management LLC grew its position in shares of Vipshop by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,256,744 shares of the technology company’s stock valued at $50,937,000 after acquiring an additional 176,037 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Vipshop during the 3rd quarter worth approximately $14,938,000. National Bank of Canada FI raised its stake in Vipshop by 3,647.0% in the 3rd quarter. National Bank of Canada FI now owns 389,799 shares of the technology company’s stock valued at $6,132,000 after purchasing an additional 379,396 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Vipshop by 16.9% during the third quarter. Quantinno Capital Management LP now owns 15,811 shares of the technology company’s stock worth $249,000 after buying an additional 2,284 shares in the last quarter. Finally, Polymer Capital Management HK LTD purchased a new position in shares of Vipshop in the third quarter worth about $175,000. Institutional investors and hedge funds 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.