Vipshop (VIPS) Upgraded to Buy at Zacks Investment Research
Vipshop (NYSE:VIPS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $21.00 target price on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.58% from the stock’s current price.
According to Zacks, “Vipshop Holdings Ltd. is an online discount retailer for brands. The Company offers branded products to consumers in China through flash sales on its vipshop.com website. It offers a wide selection of various famous branded discount products including apparel for women, men and children, fashion goods, cosmetics, home goods and other lifestyle products, through its website. Vipshop Holdings Ltd. is headquartered in Guangzhou. “
A number of other analysts also recently issued reports on VIPS. KeyCorp set a $17.00 price objective on shares of Vipshop and gave the stock a “buy” rating in a report on Tuesday, January 16th. Benchmark reaffirmed a “buy” rating and set a $24.00 price objective (up from $12.00) on shares of Vipshop in a report on Wednesday, February 14th. JPMorgan Chase & Co. dropped their price objective on shares of Vipshop from $13.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, November 22nd. HSBC raised shares of Vipshop from a “reduce” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Nomura lifted their price objective on shares of Vipshop to $19.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $17.19.
Vipshop (NYSE:VIPS) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Vipshop had a net margin of 2.67% and a return on equity of 25.75%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.60 billion. sell-side analysts forecast that Vipshop will post 0.64 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Vipshop by 38.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 128,600 shares of the technology company’s stock worth $1,507,000 after purchasing an additional 35,500 shares during the period. Millennium Management LLC raised its position in Vipshop by 466.0% in the 4th quarter. Millennium Management LLC now owns 6,860,781 shares of the technology company’s stock worth $80,408,000 after purchasing an additional 5,648,538 shares during the period. Paloma Partners Management Co purchased a new position in Vipshop in the 4th quarter worth $356,000. Elephas Investment Management Ltd purchased a new position in Vipshop in the 4th quarter worth $6,657,000. Finally, Stone Ridge Asset Management LLC purchased a new position in Vipshop in the 4th quarter worth $159,000. Institutional investors own 47.96% of the company’s stock.
Vipshop Holdings Limited is a holding company. The Company is an online discount retailer for brands in China. The Company offers branded products to consumers in China through flash sales mainly on its vip.com Website. The Company’s segment is sales, product distribution and offering of goods on its online platforms.
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