Citigroup Cuts Vipshop (NYSE:VIPS) Price Target to $17.00

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

Several other equities research analysts also recently issued reports on VIPS. Benchmark restated a “hold” rating on shares of Vipshop in a report on Wednesday. Barclays began coverage on shares of Vipshop in a report on Wednesday, November 6th. They set an “overweight” rating and a $19.00 target price on the stock. CLSA cut shares of Vipshop from an “outperform” rating to a “hold” rating and reduced their price target for the company from $15.80 to $12.00 in a report on Wednesday, August 21st. StockNews.com lowered shares of Vipshop from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, UBS Group lowered shares of Vipshop from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $12.50 in a research note on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.50.

Vipshop Price Performance

Shares of NYSE:VIPS opened at $13.24 on Wednesday. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 6.33, a P/E/G ratio of 1.49 and a beta of 0.34. The firm’s 50 day simple moving average is $14.65 and its 200 day simple moving average is $14.42. Vipshop has a fifty-two week low of $11.50 and a fifty-two week high of $20.19.

Vipshop (NYSE:VIPS) last announced its quarterly earnings results on Tuesday, August 20th. The technology company reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $3.43. The company had revenue of $25.08 billion for the quarter, compared to analysts’ expectations of $26.61 billion. Vipshop had a net margin of 7.50% and a return on equity of 21.04%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. Equities research analysts expect that Vipshop will post 1.97 earnings per share for the current year.

Hedge Funds Weigh In On Vipshop

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in Vipshop by 1,904.0% during the second quarter. Blue Trust Inc. now owns 3,527 shares of the technology company’s stock worth $46,000 after acquiring an additional 3,351 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Vipshop during the 3rd quarter worth approximately $56,000. Employees Retirement System of Texas boosted its holdings in shares of Vipshop by 143.2% in the 2nd quarter. Employees Retirement System of Texas now owns 4,614 shares of the technology company’s stock valued at $60,000 after buying an additional 2,717 shares during the last quarter. National Bank of Canada FI bought a new position in shares of Vipshop in the second quarter valued at $136,000. Finally, Atomi Financial Group Inc. increased its holdings in Vipshop by 6.8% during the third quarter. Atomi Financial Group Inc. now owns 11,050 shares of the technology company’s stock worth $174,000 after buying an additional 702 shares during the last quarter. 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.